NVM and eComplete announce joint £31million MBO of ‘inspired by’ fragrance business
NVM Private Equity (“NVM”) and eComplete jointly announce their latest investment into Noted Aromas, a rapidly scaling UK-based fragrance business. The £31million MBO was led by regional private equity provider NVM in partnership with eComplete, the e-commerce specialists and majority shareholders behind The Beauty Tech Group PLC (CurrentBody) which was admitted to the LSE in October with a market capitalisation of £300m.
Durham-based Noted Aromas is a direct-to-consumer fragrance brand operating in the rapidly growing, global, designer-inspired fragrance market. Its high quality, UK manufactured fragrances, provide affordable luxury to its loyal and growing customer base.
As part of the pre-deal process Megan O’Sullivan was appointed Managing Director bringing strong leadership credentials from the e-commerce and beauty space, having held several senior roles at THG. Megan, eComplete and the existing management team collectively have deep operational experience and sector knowledge, positioning the business strongly to capitalise on the significant growth opportunity both in the UK and internationally.
Mauro Biagioni, Investment Partner of NVM Private Equity said, “We are delighted to back Noted Aromas at this pivotal stage. The business has already proven its ability to attract and retain a loyal customer base and with the combined resources of NVM and eComplete backing Megan, we believe Noted has significant potential on an international scale.”
In a joint statement Andy Duckworth and Paul Gedman of eComplete added, “This marks our second deal with NVM, and we are delighted to be partnering with the team again. Noted Aromas possesses the hallmarks of an early disruptor with a large global opportunity ahead. We look forward to sharing early progress updates throughout 2026.”
Megan O’Sullivan, Managing Director of Noted Aromas said, “This investment marks a transformational moment for Noted Aromas and I am delighted to be leading the team as we embark on a period of rapid growth and internationalisation.”
ENDS
