Six-figure backing fires up growth ambitions at stoves supplier

North Yorkshire-based Heritage Stoves, a family-run supplier of wood burning and multi-fuel stoves, has secured a £125,000 investment package to support its growth plans, create jobs, and revitalise a well-established business.

The investment, provided by NPIF II – BEF Smaller Loans which is managed by the Business Enterprise Fund (BEF) as part of the Northern Powerhouse Investment Fund II (NPIF II), includes additional support from BEF’s Community Investment Enterprise Fund 2 (CIEF2), backed by Lloyds Bank and Big Society Capital, as well as the British Business Bank’s Start Up Loans programme.

This funding supports Guisborough and Whitby-based Heritage Stoves after its acquisition of Heritage Hearthstone Fires & Stones.

Following the acquisition, Heritage Stoves will supply and install premium wood-burning and multi-fuel stoves from brands such as Charnwood, ACR, and Town and Country Fires.

Approximately 70% of stove sales will cater to local consumers, while 30% will target business clients.

The company will also offer maintenance and repair contracts for solid and wet fuel heating systems.

The NPIF II and BEF funding will enable the business to purchase stock.

It will help safeguard four existing jobs, and create two new positions, strengthening Heritage Stoves’ impact on the local economy.

Heritage Stoves was founded in May 2024 by husband-and-wife duo Daniel and Stephanie Bird. Daniel is a qualified heating engineer specialising in various systems.

Stephanie, with four years of experience managing the Guisborough office of Heritage Hearthstone Fires & Stones, was approached by its retiring owners to take over the business due to her familiarity with its operations.

Daniel Bird, director at Heritage Stoves, said: “This investment marks an exciting new chapter for Heritage Stoves.

“Acquiring Heritage Hearthstone allows us to build on a trusted legacy while driving local economic growth.

“We’re committed to offering exceptional products and services to both consumers and businesses.”

Antony Nicholson, investment manager at BEF, said: “We’re proud to support Heritage Stoves as they take this bold step forward.

“Daniel and Stephanie’s vision, combined with their industry expertise, demonstrates the transformative potential of strategic investment in local businesses. This is precisely the kind of venture NPIF II is designed to support.”

Lizzy Upton, senior investment manager at British Business Bank, added: “Securing finance to accelerate growth is a key part of a business’ journey, and this funding from NPIF II will play a transformational role in helping Heritage Stoves expand its operations following the acquisition.

“While allowing the company to purchase new stock, it will also be used to create and protect jobs, adding further impact to the local economy.”