Furniture manufacturer lands major funding deal to double turnover
An interior furniture and fittings manufacturer has secured a multi-million funding deal, as it works to double its turnover over the next five years.
Heartbeat UK has received funds from Allica Bank, which it will use to launch products in new sectors such as student living and hotels, alongside doubling down on its existing focus areas.
Founded in 1946, the firm employs 70 staff from its Redditch headquarters. After being taken over by HLD Group in 2021, Heartbeat has become profitable and is a top supplier of specialist steel fixtures and fittings to major UK restaurants, supermarkets and pharmacy chains.
Heartbeat will get its own dedicated relationship manager from Allica Bank, who will work directly with the team.
David Myles, managing director of HLD said, “Heartbeat has experienced an incredible turnaround in fortunes since 2021 and I am delighted to secure this extra finance to enable us to continue on that trajectory.
“By doubling down on our commitment to innovation, craftsmanship and customer satisfaction, we can leverage our existing expertise and experience to drive growth in new markets. Being based in the Midlands in particular, with its fantastic transport links to the rest of the UK and an unrivalled pool of manufacturing talent, means we couldn’t be better positioned to realise that mission.
“The Heartbeat team is especially grateful to Allica Bank for their support with this. Their team took the time to understand the business plan and our ambitions, which made a huge difference, and we’re looking forward to working with our new relationship manager.”
Max Berglas, relationship manager at Allica Bank said: “What the Heartbeat team have done over the past few years to turn the business into profit is nothing short of incredible. HLD’s and David’s plans for continuing that momentum are just as exciting and with the support of Allica’s relationship-based approach, we’re really looking forward to doing our bit to help them achieve it.”
Stefan Radymski, director at Evolve Business Finance, the commercial finance broker who connected Heartbeat with Allica said: “We’re delighted to have played a part in securing this growth facility for Heartbeat. Allica Bank has been a fantastic partner—efficient, proactive, and really committed to understanding Heartbeat’s strategy.
“The revolving working capital and term loan will give the business the flexibility it needs to explore new markets, while continuing to serve its valued clients. We’re excited to see how this facility helps Heartbeat achieve its goals over the coming years.”
