Furniture Clinic has secured a £500,000 investment from the Finance Durham Fund, managed by Maven Capital Partners, to support the development of its new factory in Consett.
The investment will enable the business to create 12 new jobs in County Durham, while also to expand its presence overseas and begin selling in European countries.
Furniture Clinic already supports a range of high-profile customers including Harrods, Rolls Royce, John Lewis, Four Seasons Hotels, NHS, Royal Airforce and DFS.
Furniture Clinic manufactures a range of premium cleaning and restoration products providing a range of specialist leather, fabric and wood products used in many industries. The product range has recently expanded to include a full range of specialist products used to repair and restore wood and flooring leather. Everything is produced in-house from product R&D and testing to production.
The company was originally established between father and son Keith and Ben Staerck. Ben took over from his father as Managing Director in 2012 after helping him grow the business and develop the company’s digital presence to expand internationally. Ben is supported by a dedicated and knowledgeable management team and the business currently employs over 60 staff in the UK.
Ben Staerck, Managing Director of Furniture Clinic, said: “We’ve seen 50% year on year growth over the last two years with the creation of new product ranges. The process of developing and launching new products is becoming more complex as we grow, and this investment will make sure we have the right people and finance available to continue to roll out new products and grow sales. We look forward to working alongside Maven as they support us in our ambitious growth plans.”
Michael Dickens, Investment Manager at Maven, added: “We’re delighted to support Furniture Clinic, an established and growing local company, headquartered in County Durham, manufacturing a substantial product range to a number of markets. Ben has built an impressive business and it’s great to provide funding at this time as it looks to invest further in expansion as well as create new jobs in the area.”
Cllr James Rowlandson, cabinet member for resources, investment and assets at Durham County Council, said: “We are delighted to have been able to invest in Furniture Clinic through Finance Durham, and also to assist the company to expand its Consett base with a capital grant from our County Durham Growth Fund. It’s fantastic to support this home-grown business as it grows both nationally and internationally and to help them as they explore exciting new markets for their products.”