Furniture manufacturing and upholstery group DM Midlands Group has announced a strategic partnership with Asian-based Thailand Carpet Manufacturing Company.
The joint venture, which has seen the sale of a majority stake-holding for an undisclosed sum, marks the beginning of a new era of growth for the group who have had its third consecutive record breaking year.
The Group confirmed that the joint-venture will ‘further develop and strengthen’ its souring, manufacturing and production capabilities, as well as providing added benefits in quality assurance, control and efficiency.
Following the announcement, it’s business as usual for David Lee and Mark Smith who remain as managing director and design director respectively with all the team’s day to day operations unaffected.
DM Midlands Groups houses Ashley Manor, AMX Design and Alexander & James.
Pimol Srivikorn, chairman of Thailand Carpet Manufacturing PLC, said: “We look forward to developing the potential even further, strengthening the UK business and expanding further in their global markets.”
David Lee, managing director and co-founder of DM Midlands, said: “This is an exciting and very positive development as we enter the next phase of our highly successful business. The partnership with TCMC is a great fit for us and both parties share the same values and similar cultures and means genuine long term investment and expansion which is great news for all those associated with us.”
Thailand Carpet Manufacturing is a listed company that produces quality high end carpets. Established in 1967 and developed under the brand name “Tai Ping” and “Royal Thai” for domestic & export markets respectively.