NVM Private Equity invested GBP7 million in 100-year-old Buoyant Holdings. Buoyant Holdings was also considered as the largest independent furniture manufacturer in Britain.
Andy Leach and Mauro Biagioni, the private equity firm's Northern Investment Directors, worked on the acquisition. According to Leach, "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."
Buoyant Holdings' management remained to continue working with the company's existing customer base by supplying innovative new products. Through the acquisition, the company has potential for increased revenue from exports as well as business growth.
Buoyant Holdings was founded in 1909. The company was based in Nelson, Lancashire and has 630 employees. Ninety-five percent of its products were manufactured from sourced raw materials.
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