Dragons’ Den star Sara Davies is stepping back from her hands-on role as CEO of the company that she rescued after a change in investor.
The North East-based entrepreneur stepped in to save Crafter’s Companion – the firm she founded as a student two decades ago – in January after it went into administration.
Now it’s emerged that Davies has increased her stake in the business after Modella Capital sold its share in Crafter’s Companion to Maven Capital Partners.
She said the company was now in a much more secure financial footing, which has allowed her to step back.
Davies said: “Back in January, Modella joined me to rescue the company at a critical moment. Over the past eight months, we’ve worked side-by-side to bring it back to profitability, recalibrating the finances, stabilising operations, and pivoting the business back to its roots, all while navigating challenging economic conditions.
“The result is a business that’s now firmly on a strong, sustainable growth path.
“With this deal, Modella’s shareholding will pass partly to Maven and partly back to me, as I increase my own stake and commitment to the journey ahead.
“Over recent months, I’ve been focused on building a leadership team that can take the business forward with confidence.
“That’s included bringing in Dianne Sharp who joined us five months ago and has already had a huge positive impact.
“With such a strong team in place, I’ve been able to step back from my hands-on role as CEO – having achieved what I set out to do – and move back into a more strategic, advisory role as a non-executive board member, while still being very much the face of the business.
“I’m really looking forward to working with the team at Maven. Their values, local focus, and commitment to building strong, long-term businesses make them the perfect partners for the next stage of our journey.”
Davies, who was included in BusinessCloud’s 2024 Northern Leaders list, also praised the contributions of Charles Leeming, a partner Squire Patton Boggs, advisor Amit Aggarwal, Joseph Price, managing director of Modella Capital, and chair Steve Curtis.
A spokesman for Modella Capital said: “Modella Capital has completed the sale of Crafter’s Companion, the company founded by TV Dragon Sara Davies.
“The business was rescued, in partnership with Sara, and returned to profitability through a hands-on, financial and operational transformation during our ownership.
“Working alongside management, we recalibrated the finances and stabilised all operations in the face of an extremely challenging macroeconomic environment, including the introduction of adverse US tariff changes.
“The business is now on a strong, profitable trajectory and has been acquired by Maven Capital Partners, as part of their efforts to provide investment to the North East.
This transaction reflects Modella’s ability to deliver business transformation in complex situations at pace.”
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