Endless has backed Amdega, a designer and manufacturer of timber conservatories, with a significant capital injection. HSBC has also provided funding.
Established in 1874, Amdega is the world’s oldest conservatory company, and supplies bespoke conservatories, orangeries, summerhouses, gazebos and pool houses to both the consumer and hotel markets.
The company has an annual turnover of nearly £20m (€24.4m) and employs 220 people from its base in Faverdale, Darlington. It also exports to the US and continental Europe. Its customers include Gleneagles and Four Seasons.
The investment will be used to provide additional working capital for the company and support its ongoing development.
“This fresh investment marks a significant point in Amdega’s long and illustrious history, and will provide the business with the capital to implement a series of strategic development and improvement initiatives,” said Aidan Robson, investment director at Endless.
Steve Sutherland, former chairman of bespoke fitted-furniture retailer Neville Johnson, which Endless exited in 2008, has been appointed chairman of Amdega.
The investment is the tenth deal from Endless’ second institutional fund.