MattressOnline has announced plans to open up to three new retail premises over the next year, fuelled by a six-figure funding package provided by NatWest.
The company, which celebrated its 20-year anniversary in December, is set to expand across Yorkshire, marking a significant milestone in its journey, and creating up to 30 new jobs.
Operating for two decades with a strong emphasis on technology, MattressOnline has established itself as a pioneering force in the ecommerce landscape, and the decision to adopt a bricks-and-mortar retail arm represents a strategic shift that defies conventional trends.
With an annual revenue of nearly £30m, MattressOnline has made a notable impact in the digital sphere after founder and CEO Steve Adams identified a gap in the market for customers looking to buy a mattress without testing it first. The addition of physical stores in Skipton, Sheffield and Rotherham, along with the recent opening in Doncaster, underscores the company’s ambitions for enhancing customer accessibility and the shopping experience.
This expansion is expected to create between 15-30 new jobs, further contributing to economic growth and employment in the region, with the company's leadership envisioning a strong and sustainable approach to business.
Steve Adams says: “This expansion in our retail operation aligns with our mission to provide exceptional service and convenience to our customers while maintaining our positive contribution to the local economy and environment.
“We’re delighted to have partnered with Aaron and the team at NatWest Corporate Banking as we embark on this new chapter of our business journey. Their understanding of our growth ambitions, diligent advice and professional approach to the transaction gave us confidence in the decision to choose them. I look forward to the long term partnership we’ll be building on.”
NatWest relationship director Aaron Carter adds: “We are proud to be supporting MattressOnline with their retail expansion. As a company, they have consistently innovated and we look forward to supporting their continued success. This investment will have a positive impact on the surround economy and communities they operate in across Yorkshire.”
BHP Deal Advisory acted as lead advisor for MattressOnline on this transaction and introduced NatWest to the opportunity. John Longstaff, director, comments: “MattressOnline is a high-quality business with a clear strategy for growth. We are delighted to have advised Steve and the wider team on this deal, and in NatWest believe the business has secured an excellent long-term banking partner.”
