Proventus agreed to sell Tom Dixon after owning the iconic British product design brand for more than ten years. The buyer was NEO, a British investment company focused on European brands with high potential to grow in new markets and channels. This marked 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. During the ten years Proventus worked with the company, it grew to employ 95 people and sold apparel in 65 countries, with offices in New York and Hong Kong. The fruitful collaboration saw the company grow from a 100,000 GBP business to what it is today.

“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,” said founder Tom Dixon.

Incidentally, the break marked the end of Proventus’ period of actively owning and developing product-centric, or design-driven businesses, said Proventus CEO Daniel Sachs. This investment focus started in 1982 with the acquisition of Kosta Boda, and went on to include brands such as Puma, BRIO, Etonic, Tretorn, Monark Stiga, Nouvelles Galeries, United Tiles, J.Lindeberg, Artek and Kinnasand.

This investment category proved very successful for Proventus – both in terms of contributing to saving and restructuring companies in crisis, and in terms of generating superior returns for Proventus and its investors.