Ashwood buys Buoyant to form UK's biggest sofa maker, 3.3x return for NVM

What's the deal? Ashwood Designs GroupDealroom has a profile for this one. Try Dealroom → has acquired Buoyant Upholstery, a Lancashire furniture manufacturer, in a transaction that provides an exit for NVM Private EquityDealroom has a profile for this one. Try Dealroom → and generates a 3.3x return for investors. The deal creates the UK's largest sofa manufacturing group.

The companies: Founded in 1909 and based in Nelson, Buoyant makes the vast majority of its upholstered products in the UK, employing more than 550 people. The combined group is led by chief executive John Rennie.

What changes? The entire Buoyant executive team will remain with the business. Managing director Mike Aramayo said he was "now excited to be taking Buoyant forward on the next part of our journey."

Why it matters: During NVM's ownership, Buoyant developed its product range and deepened ties with major retail customers and independent buyers. Alex Wilson, investment director at NVM, called Buoyant "a well-established company, with a highly skilled workforce and an exceptional management team."

The signal: The tie-up points to consolidation in UK furniture manufacturing, with scale used to compete on design-led products and secure retail relationships. For NVM, it marks another exit delivering a solid return for its investors.

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