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12/2025Majority

NVM Private Equity / eComplete take majority stake in Noted Aromas

UNITED KINGDOM Consumer Products / Personal & Household / Hygiene & Beauty Brands REV £5–25M

Context

Supported by a joint capital deployment from NVM Private Equity and eComplete, this management buyout officially secures a controlling stake in Noted Aromas. Finalized in December 2025, the leveraged transaction establishes an enterprise value of [members only] for Noted Aromas. This capital operation marks the second active corporate partnership executed between NVM Private Equity and eComplete. To steer Noted Aromas through its upcoming international expansion phase, the acquiring consortium orchestrated a targeted executive appointment, installing former THG senior leader Megan O'Sullivan as the new Managing Director. The newly appointed executive brings highly specialized operational experience from the beauty space to direct the next growth cycle. The strategic rationale articulated by NVM Private Equity investment partners Mauro Biagioni and Alex Wilson focuses on leveraging the injected institutional capital to aggressively scale the physical product lines into new global jurisdictions. By pairing the digital retail frameworks of eComplete with the financial structuring capabilities of NVM Private Equity, the parent consortium aims to accelerate cross-border logistics. The execution of this mid-market buyout required the coordination of multiple specialized advisory firms to navigate the corporate transition. On the sell-side, the exiting shareholders mandated the corporate finance firm Spayne Lindsay to act as the primary financial advisor for mergers and acquisitions, while Swinburne Maddison provided exclusive legal counsel to structure the seller agreements. Conversely, NVM Private Equity and eComplete retained the specialized advisory firm Cortus to orchestrate the buy-side financial engineering and transaction support. To finalize the legal perimeters and ensure absolute regulatory compliance for the purchasers, NVM Private Equity and eComplete appointed two distinct law firms, Pannone and Womble Bond Dickinson, to systematically manage the structural legal workflows. The transaction seamlessly positions Noted Aromas to capitalize on the rapidly expanding global market for designer-inspired cosmetic formulations while benefiting from the extensive resources provided by its dual institutional backers.

-> Deep-dive in Retail & Consumer market trends

Target

Specialist in designer-inspired cosmetics, Noted Aromas manufactures and distributes a proprietary catalog of affordable luxury fragrances. The commercial enterprise operates strictly as a direct-to-consumer brand within the global personal care market. To maintain strict control over high-quality ingredient sourcing and formulation protocols, the company concentrates its entire physical production infrastructure within the United Kingdom. The operational framework bypasses traditional wholesale networks to supply physical products directly to end-users via proprietary digital storefronts. This localized manufacturing and digital distribution architecture currently supports a verified consumer base exceeding 1 million active customers. Demonstrating significant market traction, the product portfolio has accumulated exactly 200,000 five-star customer reviews across its primary digital sales channels. Operating from its central headquarters located in Durham, the business coordinates its domestic supply chain and direct fulfillment logistics to serve a rapidly scaling national audience.

Ent. Value

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (GBP)

Year
Rev
EBITDA
EBIT
2025
£5–25M
[members only]
[members only]
2024
£5–25M
[members only]
[members only]

Other operations with NVM Private Equity / eComplete

Other operations with NVM Private Equity / eComplete
DateAcquirerTargetCountrySector
11/2022NVM PRIVATE EQUITYINPROVA GROUPUNITED KINGDOMBPO & Outsourcing
03/2022NVM PRIVATE EQUITYEASBY GROUPUNITED KINGDOMIndustrial & Technical Distribution

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12/2025HSG (FORMERLY SEQUOIA CAPITAL CHINA)GOLDEN GOOSEITALYFashion & Apparel
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12/2025KKRWELLASWITZERLANDHygiene & Beauty Brands
10/2025ID UNLIMITEDPOLYGRAPHICNETHERLANDSOther Sports
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09/2025PLATINUM EQUITYXD CONNECTSNETHERLANDSConsumer Products
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REFERENCES

Revenue range: REV £5–25M

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Noted Aromas by NVM Private Equity / eComplete are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: noted aromas

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Noted Aromas, a British company specialised in Personal & Household, by NVM Private Equity and eComplete in 2025.

What was Noted Aromas’s revenue at the time of the deal?

At the time of the transaction, Noted Aromas’s annual revenue was estimated within the £5–25M range (FY 2025). Detailed financial figures are available to members.

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

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