Proventus has agreed to sell Tom Dixon after owning the iconic British product design brand for more than ten years. The buyer is NEO, a British investment company focused on European brands with high potential to grow in new markets and channels. This marks the end of Proventus’ role as an owner and developer of design driven businesses.
Established in 2002, Tom Dixon is a design brand with a strong commitment to innovation and a mission to revive the British furniture industry. In 2004, Proventus took a majority stake in the then embryonic Tom Dixon brand. Over the ten years of Proventus working together with the founder Tom Dixon, the company has grown to a size where it has 95 employees, selling in 65 countries and with offices in New York and Hong Kong.
- Proventus has been a steady and wise partner, and as we move on, I will always be grateful for the support and belief they have given to my crazy ideas, says Tom Dixon.
- This marks the end of a great adventure and a fruitful collaboration between Proventus and Tom Dixon that has taken the company from a 100 thousand GBP business to what it is today. Incidentally, it also marks the end of Proventus’ period of actively owning and developing product centric, or design driven businesses, says Daniel Sachs, Proventus’ CEO.
It started in 1982 with the acquisition of Kosta Boda and has since then included brands such as Puma, BRIO, Etonic, Tretorn, Monark Stiga, Nouvelles Galeries, United Tiles, J.Lindeberg, Artek and Kinnasand.
- This investment focus, including a large number of investments, has been very successful – both in terms of contributing to saving and restructuring companies in crisis and in terms of generating superior returns for Proventus and its investors, Daniel Sachs says.