Direct Online Services, a UK-based online retailer of solid wooden kitchen worktops, has secured a GBP3 million investment from BGF (Business Growth Fund) to support its growth in the UK and overseas.
The company plans to expand its European coverage across Germany and into France, increase its range of products and invest further in its marketing activities.
In 2009, father and son Martyn and Will Rees launched Direct Online Services’ flagship brand Worktop Express and opened its first showroom in Gloucester. Since then, the business has expanded its portfolio to include Solid Wood Kitchen Cabinets, deTerra and WEX Trade.
It now manages nine individually branded websites, four eBay Shops, its own fleet of vehicles and has opened additional showrooms in Harlow, Chesterfield, Warrington, Redhill and Camden.
Close to 200 people are employed across the business, and sales are expected to exceed GBP25 million this year.
BGF’s investment will be used to support the group’s expansion across the UK and Europe, where it currently operates in Germany, the Czech Republic and Poland. The company has recently added laminate worktops and new kitchen components, such as sinks and cabinets to its product range.
Direct Online Services joins a growing number of businesses in the South West of England to secure funding from BGF, the UK’s most active provider of growth capital. The investment was led by Ned Dorbin and Edwin Davies, who are based in BGF’s Bristol office.
Martyn Rees says: “The business has grown rapidly during the past seven years and we have continued to make investments in our infrastructure, team, operations, sales and marketing. There is significant opportunity for us to pursue further growth, and we are delighted to have the financial backing of BGF as we put our plans into action.
“As a family business, it was important that we were able to retain control of the company when bringing in an outside equity partner. BGF’s minority, long-term approach was the right fit for us.”
Ned Dorbin, BGF, says: “In a short amount of time, Martyn, Will and the wider team have successfully grown Direct Online Services into a leading retailer of high-quality wood worktops. Recent product launches provide a clear opportunity to accelerate the growth of the business. This is an exciting time for the company and we are delighted to be partnering with the team.”