A £17m-turnover furniture maker which has been trading in the North West for almost five decades has been acquired by a NorthEdge Capital-backed counterpart. Tetrad makes sofas, chairs and stools at its factory in Preston.
Following the takeover by Belfield Furnishings, products will continue to be made at the Swan Street facility. Janus Cooper will also remain in his role as managing director of Tetrad. Belfield Furnishings is based in Derbyshire and makes upholstered furniture, cushions, mattresses and window coverings. It secured the backing of NorthEdge Capital as part of a management buyout in July 2016. The group currently has an annual turnover of almost £200m and employs about 2,000 staff across the UK and Romania. Stephen Hampton, chief executive of Belfield Group, said: “Tetrad is a heritage brand that we have admired for many years. “Its innovative, design-led approach has boosted its reputation in the market and we’re delighted for the business to become part of the Belfield Group. We now have huge potential to increase market share while continuing to manufacture upholstered pieces of the highest quality.”
Ben Wildsmith, director at NorthEdge Capital, added: “We backed Belfield last year and have been really impressed by the quality and depth of the group’s management team. All four divisions of the group have performed exceptionally well in navigating events post-Brexit, while achieving strong and profitable growth across the business.”