Lancashire-based Buoyant Upholstery has joined forces with Ashwood Designs Group following its sale by NVM Private Equity.
Founded in 1909, Buoyant Upholstery is one of the UK’s leading independent upholstered furniture manufacturers.
The company employs more than 550 people at its site in Nelson, Lancashire and produces the vast majority of its products in the UK.
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.”
During NVM’s period of ownership, Buoyant expanded its product offering and strengthened relationships with both major and independent retailers.
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.”
The entire Buoyant executive team will remain with the business.
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The sale was led by investment director Alex Wilson from NVM’s Manchester office.
Mr Wilson 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.”