The high end furnishing business founded by Viscount Linley in 1985, and later acquired by Jamie Edmiston, has secured new backing. Edmiston has sold a 51 per cent stake to Malaysian investors Nazar Razak and David Chua, retaining a small stake for himself, whilst the balance continues to be held by David Linley. The business had previously been backed by Sergei Pulgachev (Mehzprombank but had suffered during the recession which also saw Mehzoprombank collapse.
With Linley as chair, and CEO Anna Sweeting in place, sales at the company grew to £13 million in the year to 30 June 2014 and the new backers are understood to be keen to support its ongoing development in emerging markets in Asia.
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