Buoyant Upholstery has a new owner after its private equity parent sold up.
NVM Private Equity has sold the Lancashire manufacturer to Dunham Massey Investment Group, which owns Ashwood Designs Group.
Buoyant’s management team, led by md Mike Aramayo, remains in place.
He says a sale was anticipated as NVM’s fund began to wind down.
‘Ashwood Designs Group understands this sector, and that gives me real confidence in what lies ahead for Buoyant. Every director remains in their role. The same team that has led Buoyant will continue to lead Buoyant. It is business as usual, with amazing new backing,’ he says.
‘A major deciding factor in the acquisition was the opportunity to work with Mike – a significant leading force within this sector – alongside his hugely talented management team, who all remain to continue propelling Buoyant forward as they have successfully done so for many years. Buoyant is a significant employer in the Nelson area – with around 550 employees – which we are proud to be a part of,’ says John Rennie, DMIG ceo.
‘This acquisition represents an exciting opportunity to bring together two exceptional British manufacturers who share the same values of craftsmanship, quality, innovation, and customer focus. By combining our expertise, resources, and talented teams, we are well positioned to strengthen our offering and continue investing in British manufacturing.
‘Bringing together the experience, capabilities and reputations of both companies will enhance operational strength, broaden product offerings, and create new opportunities for employees, customers, and suppliers alike.’
