Danish children’s furniture manufacturer Flexa has confirmed that it is now under a new owner, with Swiss private investor Adrian Vanderspuy acquiring a majority stake in the business.

The news adds to the company’s successful turnaround where it has seen continuous annual growth since 2013, with Flexa reporting a revenue increase of 18% to €47m in 2015.

Flexa, which operates more than 140 franchise stores and over 700 shop-in-shops concepts across the globe, confirmed that this positive turnaround has continued into this year.

Commenting to Danish media on the acquisition – which remains undisclosed, the new majority partner Adrian Vanderspuy said: “I have always had the greatest respect for Danish design and in particular the preservation of Danish design furniture for children is very important to me.

“I am very pleased to expand worldwide, together with the management and employees to develop Flexa.”