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DBL Capital buys into Home Space Direct with funding

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SOFIAH NICHOLE SALIVIO

News Editor

DBL Capital has completed a management buy-in of Home Space Direct, backed by a six-figure investment from NPIF II – FW Capital Debt Finance.

Additional funding came from LGC Industries, while the FW Capital-backed debt package will provide working capital for the Stockport-based online homewares retailer as it changes ownership.

Home Space Direct sells furnishings online and through marketplace channels including Debenhams and Tesco. Founded in 2007, the business says it draws on more than 40 years of industry experience.

The new ownership team is led by David Adamson, who has taken on the role of managing director. Funding will be used to streamline the company’s supply chain and digital infrastructure from its Stockport base, and to expand its range of bedding, curtains and soft furnishings.

The investment comes from the Northern Powerhouse Investment Fund II, a £660 million fund covering the North of England. FW Capital manages the £115 million debt finance element of the programme on behalf of the British Business Bank, with loans ranging from £100,000 to £2 million for businesses in areas including Greater Manchester, Lancashire and Merseyside.

The transaction reflects continued investor interest in specialist online retail businesses despite pressure on consumer spending and intense competition across the UK homewares market. Backers aim to build on Home Space Direct’s established marketplace presence while strengthening its direct eCommerce operation.

Adamson said the business would focus on investment in digital operations, customer experience and product development under the new ownership structure.

“Home Space Direct has built a strong reputation for offering quality homeware backed by excellent customer service, and we’re excited to build on those foundations. With more than 25 years’ experience growing leading retail and eCommerce businesses, I know the opportunity to grow the brand through continued investment in our digital platform, customer experience and product offering. Alongside strengthening our partnerships with leading suppliers, we’ll also develop our own exclusive product ranges and explore carefully selected acquisition opportunities that complement the business and support our long-term growth ambitions. The investment from FW Capital gives us the platform to accelerate these plans, and we’re excited about the future as we continue building Home Space Direct into one of the UK’s leading online homeware retailers,” said David Adamson, Managing Director of Home Space Direct.

Regional backing

NPIF II was launched as part of the British Business Bank’s wider Nations and Regions Investment Funds initiative. The programme is intended to increase the supply of early-stage finance for smaller companies across the North and address gaps in access to funding.

For FW Capital, the Home Space Direct transaction adds another retail and eCommerce business to its regional portfolio. The lender said the management team is seeking to build a long-term model in the crowded home textiles segment.

“The new leadership team, led by David, is focused on scaling the company’s eCommerce platform and building a sustainable, long-term growth model in the highly competitive home textiles sector. The team has lots of new ideas and a strong desire to grow the business further. It’s fantastic to support the business during this critical period and provide investment that is helping it scale up,” said Barry Wilson, Investment Executive at FW Capital.

The British Business Bank said the fund is designed to work alongside private investors as companies seek fresh capital for expansion. In this case, public-backed debt funding has been combined with investment from LGC Industries to support the buy-in and the next stage of development.

“Through the Northern Powerhouse Investment Fund II, we’re proud to back well-established Northern businesses as they continue to grow and evolve, while working alongside private investors to unlock additional capital. Investing in businesses like Home Space Direct as they enter their next phase helps drive innovation through product development and technological advancement, which is crucial to creating forward-thinking, scalable businesses,” said Sue Barnard, Senior Investment Manager at the British Business Bank.



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Phoenix Software staff win Broadcom VCF Knight status

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JOSEPH GABRIEL LAGONSIN

News Editor

Phoenix Software has announced that two employees have achieved Broadcom VCF Knight status, Broadcom’s highest recognition for partner professionals.

Infrastructure Practise Lead Richard Worth and Senior Technical Consultant Robert Dent both received the Broadcom VCF Knight – Storage certification, recognising expertise in VMware Cloud Foundation-related storage.

The achievement strengthens Phoenix’s position within Broadcom’s partner network, where it holds UK Pinnacle and Expert Advantage status. It also reflects continued investment by the York-based business in technical staff with specialist VMware expertise.

Broadcom’s Knight programme identifies partner specialists with experience in the architecture, design, implementation and support of Broadcom technologies. In this case, the focus was on VMware Cloud Foundation and related storage work.

The process involves several stages rather than a single exam. Candidates must pass multiple advanced technical tests, submit evidence of customer designs, deliver a live technical demonstration to a Broadcom sponsor, and then undergo nomination and review by a Broadcom panel.

The certification typically takes several months to complete and requires periodic renewal, making it a relatively rare qualification within the VMware and Broadcom partner ecosystem.

Worth has worked in IT for more than 25 years, including nine at Phoenix, where he leads the infrastructure practice. His background spans networking, storage and virtualisation, all closely tied to the technologies covered by VMware Cloud Foundation.

Dent has worked with VMware technologies for more than 20 years, beginning during an early IT apprenticeship and later implementing virtualisation environments at the University of Hull. His experience also includes servers, storage, NetApp and vSAN, and he gained his first VMware certification while working at the university.

Technical route

The certifications come as many customers reassess their VMware environments following Broadcom’s acquisition of the software business. That has increased scrutiny on partners able to demonstrate deep product knowledge and delivery experience.

Both men completed the same rigorous process to secure the designation, which Phoenix described as evidence of its ability to support organisations running complex virtualised infrastructure.

Worth said: “The difference with the Knight programme is that it recognises not just what you know, but what you’ve actually delivered. It reflects real-world experience – designing, implementing, and solving problems for customers. For me, VCF brings together everything we do across networking, storage, and virtualisation into one cohesive platform.”

Dent linked the certification to customer expectations around complex infrastructure projects.

Dent said: “This is one of the highest standards a consultant can achieve. It’s exactly the level of expertise customers expect when they’re investing in complex platforms like VMware Cloud Foundation. For me, it’s also about continuing to learn and building environments where the wider team can develop their skills.”

Phoenix operates across software licensing, hardware, software asset management and managed IT services, and has been in the market for more than 30 years. It works with public and private sector customers on IT strategy, infrastructure design, deployment and software management.

The latest certifications suggest the company is seeking to deepen specialist skills in core infrastructure areas as customers continue to assess how they manage virtualisation, storage and networking in consolidated cloud environments.



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Connected building systems pose growing cyber risk

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Restore Information Management has warned that connected building systems are becoming a cyber security risk for organisations, with many businesses failing to secure operational technology such as building management systems, access control and CCTV.

The warning comes as attackers expand their focus beyond traditional IT to target the technology that supports day-to-day building operations. These systems are increasingly internet-connected, remotely managed and linked to cloud services, widening the number of potential entry points for attackers.

Official figures underline the scale of the issue. The latest UK Government Cyber Security Breaches Survey found that 43% of UK businesses experienced a cyber security breach or attack in the past 12 months.

David Robinson, Head of Cybersecurity at Restore Information Management, said many organisations have basic weaknesses across their operational technology environments, particularly default settings and poor access controls.

“Many building systems still rely on default credentials straight out of the box. If these credentials aren’t changed, cyber criminals can gain access to critical systems with relative ease. As today’s digital building systems become increasingly connected, remotely managed and cloud-based, they are evolving faster than many organisations can secure them. Without the right controls, attackers could disrupt critical building systems, disable physical security measures or use them as a route into the wider corporate network,” Robinson said.

Attack surface

Robinson said one of the main steps organisations should take is to establish a full inventory of connected building systems, including building management systems, access control platforms, CCTV networks and environmental controls.

In practice, that means knowing what equipment is connected to the network, who is responsible for managing it and how users, contractors and suppliers can access it. Security teams often have a clearer view of laptops, servers and business applications than of operational technology embedded in buildings, creating a gap that can persist for years.

He also highlighted the risk posed by shared and default credentials. Manufacturer-set passwords remain common across a range of connected systems, and shared accounts can make it difficult to trace activity or remove access when a staff member or contractor leaves.

Restore urged organisations to replace default credentials as soon as systems are deployed, remove shared logins and ensure each employee or contractor has an individual account. That allows access to be monitored and withdrawn when required.

Remote access

Another area of concern is remote access for suppliers and maintenance providers. Building systems often rely on outside specialists for configuration, support and servicing, but these links can remain open long after a project has ended.

Robinson said access should be formally approved, reviewed regularly and removed once work is complete or contracts expire. Dormant contractor accounts, he added, should not remain active.

The issue has become more pressing as facilities technology has become easier to access from outside a site. Remote management can help operators maintain systems across multiple buildings, but it also creates another route that needs oversight from both facilities and cyber security teams.

Network separation

Restore also called for stronger segmentation between operational technology and corporate IT environments. Separating building systems from wider business networks can limit the damage if one part of the estate is compromised.

This matters because attackers who gain access to a connected operational system may try to move laterally into more sensitive parts of the organisation. Segmenting networks can make that movement harder and reduce the impact of a breach.

Security and facilities teams should work together to review legacy environments and identify where older systems can be better isolated. In many organisations, building technology has evolved in stages over a long period, leaving a mix of old and new equipment with varying security controls.

Strategic priority

Robinson’s final point was that operational technology should no longer sit outside mainstream cyber planning. He argued that connected building systems need to be included in an organisation’s wider security strategy, with regular reviews, staff awareness and stronger security design at the point of deployment.

That view reflects a broader shift in cyber risk management as physical infrastructure becomes more digital. Systems once treated mainly as facilities assets are now part of an organisation’s connected estate and can affect both physical security and business continuity if disrupted.

Restore Information Management is one of the UK’s larger information management providers and says it works with more than 6,000 clients, including more than 80% of NHS trusts. “Cyber security is no longer confined to servers and laptops. As buildings become smarter, the systems that control them require the same level of protection as every other critical asset,” Robinson said.



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Prince William-backed helicopter company profits rise

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Airbus Helicopters opened a new £50m headquarters and factory facilities at Oxford Airport in Yarnton.

Opened in September 2024 by Prince William, Airbus Helicopters employs around 250 people in Oxford and has room for 32 helicopters.

New accounts published by the company shows the business reported an annual profit of £10.1m in the calendar year 2025 also its first full year from Oxford.

This was up 13 per cent from £8.9m the year before.

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Airbus Helicopters said this profit was boosted by a £2.5m foreign exchange gain and was despite a drop in turnover.

“The company has now completed its first full year of operations at the new, larger hangar facility at London Oxford Airport, following the move in July 2024 and the commencement of a 25-year lease agreement,” said Yann Rozo of Airbus Helicopters in a report.

“The company would like to recognise the positive contribution of its customers, employees and other stakeholders in achieving the results of 2025 and looks to further enhance these relationships during 2026.”

Revenue for 2025 was at £138.9m compared with £158.6m the year before.

The decrease in turnover compared to the prior year has been attributed to the timing of aircraft deliveries and the expiry of a Ministry of Defence contract.

Airbus completes helicopters built in France and Germany at its Oxford site before selling on to customers including the National Police Air Service.





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