0370 270 6000

Browne Jacobson complete PE-backed MBO of Belfield Furnishings

19 July 2016
Belfield Furnishings has been acquired in a private equity backed management buy-out by NorthEdge Capital who has acquired a majority stake in the business.

Browne Jacobson advised the vendors and management. Corporate finance partners Gavin Cummings and Mark Hughes led on the deal.

Established in 2002, Bellfield is one of Europe’s leading manufacturers and distributors of upholstered furniture, soft furnishings, mattresses and curtains to high street, caravan and leisure holiday home sectors. Operating from its headquarters in Ilkeston and sites in North Wales for its upholstery division and Castle Donington for beds, the company serves an impressive list of clients including, amongst others, M&S, Next, Ikea, John Lewis and Furniture Village.

Following the MBO chief executive officer Stephen Hampton, chief finance officer Karl Stevens and chairman Alan McWalter will remain with the business. They will be joined by Don Coates as the group’s new chief operating officer.

Stephen Hampton, said:

“The business has performed well over the past few years. The funding from NorthEdge will allow us to increase the production of our quality products whilst also maintaining the same high levels of customer service. NorthEdge has an excellent reputation for growing and supporting businesses to achieve their strategic goals and we look forward to working with them through the next phase of Belfield’s development.”

Gavin Cummings, corporate finance partner, said:
“We are delighted to have acted on this deal. Belfield has seen rapid expansion in recent years, leading to significant job creation both in the East Midlands and at its plants in Wales. Its reputation for delivering innovation in furnishing design and production has been a major factor in its growth and its ability to consistently win major new business from some of the leading national and international retail brands.”

Clydesdale & Yorkshire Bank provided debt and working capital facilities for the MBO, while KPMG, PwC Legal and Credo advised NorthEdge.  The vendors and management team were also advised by Catalyst Corporate Finance, and EY.

Focus on...

Press releases

Browne Jacobson’s two ‘rising stars’ announced winners at the WeAreTheCity Awards 2022

A lawyer and a HR business partner from law firm Browne Jacobson have been announced as winners of the WeAreTheCity’s Rising Stars Awards 2022.


Press releases

Brace of awards for Browne Jacobson at Insider East Midlands Dealmakers Awards 2022

Browne Jacobson’s corporate finance team is celebrating after winning the prestigious “Corporate Law Firm of the Year’ award at this year’s East Midlands Dealmakers Awards.



Vaccinations in the Workplace: a higher expectation than one may think

There is currently no legislation requiring employees within the UK to have the COVID-19 vaccine. However, a recent Acas survey found that approximately 22% of employers intend to require their new staff to have the COVID-19 vaccination, and 21% would require their existing staff to be vaccinated too.


Press releases

Browne Jacobson’s dealmakers advise Coniston Capital on MBO of bespoke kitchen manufacturer

Browne Jacobson’s corporate dealmakers have advised Coniston Capital on its management buyout (MBO) of bespoke kitchen design manufacturers Harvey Jones for an undisclosed sum.