Belfield Boosted By New Facility : The introduction of a third facility in North Wales has bolstered revenue at manufacturer Belfield Furnishings, which underwent a private equity-backed management buyout during the summer.

Belfield was established in 2002 and is now one of the UK’s largest white label manufacturers of home furnishings. Its products are stocked by the likes of John Lewis and Next.

Accounts for the year to 31 December 2015 revealed Belfield pushed turnover to £132.9m from £118.3m a year earlier. Pre-tax profit also climbed to £5.7m from £3.6m in 2014.

Belfield is headquartered in Ilkeston, Derbyshire, where it also has soft furnishings and caravan upholstery divisions.

It also has design facilities in Flintshire, where it opened a third base during the financial year. The site was “fully operational” for the majority of the period and the business said its impact had helped boost turnover.

Belfield added that the economy during 2015 was “reasonably buoyant” but “extremely competitive.

In July 2016, the business underwent an MBO with support from NorthEdge Capital, a private equity house which focuses its investments on companies operating in the North of England.

As part of the deal NorthEdge acquired a majority stake in Belfield, which will use the cash injection to cut lead times for customers and bolster production.

The business is led by chief executive Steve Hampton and chief financial officer Karl Stevens. Alan McWalter, a former Marks & Spencer director, will remain as chairman while Don Coates has joined as chief operating officer.