Chesterfield kitchen firm set for £3m European expansion
Direct Online Services, an online retailer of solid wood kitchen worktops which has an outlet in Chesterfield, has secured a £3m investment from BGF (Business Growth Fund) to fund its overseas growth.
The owners of the business, father and son Martyn and Will Rees, say the cash will be used to expand its Worktop Express brand into Europe.
It now manages nine individually branded websites, four eBay Shops, its own fleet of vehicles and has opened showrooms in Harlow, Chesterfield, Warrington, Redhill and Camden.
Close to 200 people are employed across the business, and sales are expected to exceed £25m 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.
Martyn Rees, Direct Online Services joint-MD said: “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.”
