Services provided: acquisition due diligence
During May 2022, Liverpool based venture capital fund Arete led a £3million funding round into an online retailer specialising in stoves, fireplaces and outdoor living together with backing with newly launched TDC (Tosca Debt ,Capital) Impact Fund.
Originally established as Fireplace Warehouse in 2005, the business sold fireplaces and stoves via two websites, Direct Stoves and Direct Fireplaces. It 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.