NVM has completed the sale of Buoyant Upholstery, one of the UK’s leading independent upholstered furniture manufacturers, generating a 3.3x return for investors.
Founded in 1909 and based in Nelson, Lancashire, Buoyant has a long-standing reputation for quality, design and innovation in upholstered furniture – manufacturing the vast majority of its products in the UK and positioning it as a significant contributor to British manufacturing. The company employs a skilled workforce of over 550 employees from its base in the North of England.
During NVM’s ownership, Buoyant has continued to respond to evolving demand for high-quality and design-led furniture, developing its product range and deepening relationships with both its major retail customers and its independent customer base alike.
The transaction brings Buoyant together with Ashwood Designs Group, creating the UK’s largest sofa manufacturing group, led by CEO John Rennie. The entire Buoyant executive team will remain with the business and are committed to the next phase of its growth journey. The deal also delivers a strong return for investors, with the transaction led by Alex Wilson from NVM’s Manchester office.
Joel Rosenblatt, Chair of Buoyant Upholstery, said: “NVM has been a highly supportive partner throughout our investment, helping us to invest in the business and continue building on Buoyant’s proud manufacturing heritage. I want to thank the NVM team for their guidance and practical support, which has been unwavering throughout, and I leave the business in the very capable hands of Mike and the team as it looks forward to further growth.”
Mike Aramayo, Managing Director of Buoyant Upholstery, said: “We’ve been on a fantastic journey and I couldn’t have asked for more supportive backers every step of the way. I’ve enjoyed working with both Joel, our Chair, and the NVM team and I’m now excited to be taking Buoyant forward on the next part of our journey.”
Alex Wilson, Investment Director at NVM Private Equity, said: “Buoyant is a great example of the type of business we are proud to support: a well-established company, with a highly skilled workforce and an exceptional management team. We are delighted to have worked alongside Mike and Joel, true industry leaders, to have delivered another successful outcome for our investors.”
The sale further demonstrates NVM’s track record of partnering with management teams to create value in high-quality regional businesses and follows NVM’s recent backing of North-East based ‘inspired-by’ fragrance business, Noted. Aromas.
