Furniture firm in £10m buyout

Nelson furniture manufacturer Buoyant Holdings has been sold in a seven-figure management buy-out.

The company, one of the UK’s largest independent furniture manufacturers, has been based in Pendle since moving from Nottinghamshire in 1973 and currently employs 630. The full value of the deal was in excess of £10m.

It was put up for sale by formers owners Wade Upholstery, of the East Midlands. NVM Private Equity put £7m into the deal and installed widely experienced Joel Rosenblatt executive chairman.

He said: “I’m delighted to be working with two great businesses, 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. “Buoyant is more than just a manufacturer – it has good design, service and innovation credentials. It is a major employer in Nelson and we look forward to working with the management team to grow the business."