An investment package of £125k is supporting ambitious growth plans for Whitby and Guisborough-based Heritage Stoves, a family-run firm supplying wood burning and multi-fuel stoves.
This funding supports Heritage Stoves following the acquisition of Heritage Hearthstone Fires & Stones, which has been operating since 1997. Following the acquisition, Heritage Stoves will supply and install premium wood-burning and multi-fuel stoves from leading brands to domestic and business customers.
Founded in May 2024 by husband-and-wife duo Daniel and Stephanie Bird, Heritage Stoves brings together the couple’s skills. Daniel’s a qualified heating engineer, and 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 deep familiarity with its operations.
Daniel 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.”
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.
Antony Nicholson, investment manager at BEF, said: “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.”
The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
BEF specialises in delivering smaller loans between £25,000 and £100,000 to businesses in Yorkshire and Humberside. Committed to breaking down barriers to finance, BEF ensures SMEs across diverse industries receive the support they need to thrive.
