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Heritage Stoves Fires Up Expansion with £125,000 investment

Press release 12 February 2025

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

A portrait of the team from Heritage Stoves

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 Heritage Stoves following the acquisition of Heritage Hearthstone Fires & Stones, a trusted name in the heating industry since 1997. Following the acquisition, Heritage Stoves will supply and install premium wood-burning and multi-fuel stoves from leading 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.

Founded in May 2024 by husband-and-wife duo Daniel and Stephanie Bird, Heritage Stoves embodies the couple’s expertise and commitment. Daniel, a qualified heating engineer specialising in various systems, brings technical know-how to the business. 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 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, commented:

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 their 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.

The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.

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.

Further Information

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Notes to editors

About the Northern Powerhouse Investment Fund II

  • Operated by the British Business Bank, NPIF II provides a mix of debt and equity funding.  NPIF II will offer a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million. It works alongside the Combined Authorities, Local Enterprise Partnerships (LEPs), and Growth Hubs, as well as local intermediaries such as accountants, fund managers and banks, to support the North’s smaller businesses at all stages of their development.
  • The funds in which the NPIF II invests are open to businesses with material operations, or planning to open material operations, in: Greater Manchester, Lancashire, Cheshire & Warrington, Cumbria, Liverpool City Region, Leeds City Region, South Yorkshire Combined Mayoral Authority, York & North Yorkshire, Humber and East Yorkshire, Northumberland, County Durham, Tyne & Wear
  • Supported by Nations and Regions Investments Limited, a subsidiary of British Business Bank plc, the Bank is a development bank wholly owned by HM Government. Neither Nations and Regions Investments Limited nor British Business Bank plc are authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).

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