NVM Private Equity invested in a British manufacturer of upholstered fixtures in the amount of GBP 7 million. NVM shelled out the amount for the management takeover of Buoyant Holdings.
Buoyant, which was established in 1909, is currently UK's biggest independent manufacturer of furniture. It supplies to independent, national and on-line retailers.
In a statement, it was revealed that Buoyant's management team will "continue to work with their existing customer base to supply innovative new products which are made to a high specification, on time and at the right price".
The company is also expected to raise its export revenues considerably as well as develop the business through acquisition.
There is also the potential to increase export revenues significantly and grow the business through acquisition.
"The business has developed a strong reputation in its market place and has successfully evolved to meet consumer trends, resulting in a substantial increase in sales. We are delighted to be backing a century old British manufacturing business with a strong track record and an ambitious management team," NVM Investment Director Andy Leach said.
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