Mobus Fabrics, a UK designer and supplier of high‑quality upholstery fabrics, has announced the completion of a management buyout (MBO) that transitions ownership to its senior leadership team.
The buyout sees the company’s working directors assume full control of the business, ensuring continuity of operations "while positioning Mobus Fabrics for future growth, innovation, and continued service to its global customer base".
The MBO was led by MD Lee Paxman, sales director Sam Thornber and FD Elliot Moody, who together bring decades of combined experience within the organisation.
Lee says: “This is an exciting new chapter for Mobus Fabrics. The management buyout not only secures the company’s future but also reinforces our commitment to our employees, customers and partners. We are immensely proud of our heritage, and this transition allows us to continue building a strong, forward‑looking business.”
Founded in 1994 by Michael Presley and Grant McConnell, Mobus Fabrics has grown to become a trusted name across the furniture and upholstery industry, supplying bespoke and stock-supported fabric collections to wholesalers, manufacturers and retailers across the UK and internationally. The new ownership structure promises stability for the company’s workforce and strengthens its capacity to invest in new products, sustainability initiatives, and expanded market opportunities globally.
Dave Barnes (departing FD) worked on the deal for the last six months with Elliot, stating: “Many thanks to Adam Cockroft (Ramsden Solicitors), David Butterworth (Wheawill & Sudworth) and Jeetesh Prajapati (HSBC) for all their support in getting the deal across the line.”
Michael Presley adds: “After many successful years, I am delighted to see Mobus Fabrics pass into the hands of a team who know the business inside out and share a deep commitment to its long-term success. The MBO ensures continuity for our customers and employees, and I have full confidence in the leadership team moving forward.”
The company emphasises that all existing operations, customer relationships and supplier agreements will continue without interruption, and it is "very much business as usual".
