Northwest based multi-family investment office Arete has led a £3 million funding round into an online retailer specialising in stoves, fireplaces and outdoor living, together with backing from newly launched TDC (Tosca Debt Capital) Impact Fund.
Northwest based multi-family investment office Arete has led a £3 million funding round into an online retailer specialising in stoves, fireplaces and outdoor living, together with backing from newly launched TDC (Tosca Debt Capital) Impact Fund.
Originally established as Fireplace Warehouse in 2005, founder Adam Leah built his business selling fireplaces and stoves via two websites, Direct Stoves and Direct Fireplaces. Together with business partner Ryan Hancock, the pair went on to acquire teak garden furniture business Cotswold Teak and specialist wicker basket business, Woven Hill. The investment from Arete will help bring the individual brands together to create Direct Home Stores, a new brand that is expected to generate £20 million sales within the next financial year.
