UK manufacturer Buoyant Holdings, has secured investment to bring more innovative products to market. The British manufacturer of upholstered furniture, founded over 100 years ago, has received £7m of investment from NVM Private Equity to fund its management buy-out. The new funding will allow the company to continue to work with their customers to supply innovative new products as the company continues to grow along with its reputation for delivering on its commitments.
Buoyant was formed in 1909 and has a proud heritage of developing sofas and chairs for a broad range of retailers. It is now the largest independent UK furniture manufacturer currently supplying to national, independent and online retailers. With a 630-strong workforce, Buoyant manufactures over 95% of its products from sourced raw materials at its base in Nelson, Lancashire. Buoyant’s sector of the UK furniture market is currently valued at £4b, and over the last three years the company has reportedly seen a 70% increase in product sales.
MD Mike Aramayo and his incumbent management team are looking forward to working with NVM and its customers. Her says: “We recognise that it is imperative to stay at the forefront of our industry by continuing to introduce new concepts and designs. Upholstered furniture is moving up the consumer spending priority, so the new funding will help us to develop our products further to meet demand in the UK and overseas. The team and I also see huge growth potential in motion furniture where our first launch of four designs went down extremely well at the 2013 Interiors UK show at the NEC. We look forward to working alongside Joel and NVM to build our business further.”
Joel Rosenblatt has joined Buoyant as executive chairman, bringing with him extensive experience of the home textiles, upholstery and FMCG sectors. “I’m delighted to be working with two great businesses," he says, "with NVM on the financial side as well as an exceptional management team at Buoyant – both of whom are held in high regard within their industries. We have a lot of positive things we need to do, and with NVM’s support the team certainly have the energy to deliver their plans.”
Pictured are: Joel Rosenblatt (chairman); George Smith (production director); Andy Leach (NVM director); Glen Ainsworth (development director); Hans Jansen (commercial director); Stuart Bracewell (finance director); and Mike Amarayo (MD).