Poltrona Frau, a company of the Haworth Lifestyle Group, has reached an agreement to acquire a majority stake of Coventry-founded KJ Ryan Ltd.
The latter develops and manufactures high-end interior components for luxury cars and will become part of the Interiors in Motion Business Unit of Poltrona Frau based in Tolentino in Italy.
It was founded by Kevin Ryan in 2007 and currently employs more than 150 highly specialised workers.
Ryan will continue to serve the new entity with an important operational role.
The combined entity will become the European leader in the development and manufacturing of interiors for luxury and bespoke vehicles with a turnover of around €120 million, more than 600 employees, and three manufacturing plants in Italy and the UK.
Ervino Riccobon, the CEO of Poltrona Frau Interiors in Motion, said: "With the acquisition of KJ Ryan we will significantly strengthen our ability to partner with leading car makers in designing, developing and delivering world-class interiors in one of the world’s most important markets for luxury and bespoke cars."
Kevin Ryan added: "Joining forces with Poltrona Frau and Haworth Lifestyle makes me very confident that the skills, know-how and credibility I have built over 40 years of work in the sector have found the best possible platform to be nurtured and expanded in the future."
Haworth Lifestyle is a federation of leading global design brands part of Haworth Inc - a US company operating in commercial furniture and interiors, with revenues of US$2,6 billion and over 8,000 members worldwide.
