NVM Private Equity and eComplete have backed a £31 million management buyout of Noted Aromas.
Durham-based Noted Aromas is a rapidly scaling direct-to-consumer fragrance brand.
eComplete is an eCommerce specialist and majority shareholder behind The Beauty Tech Group PLC – the parent company of CurrentBody – which was admitted to the London Stock Exchange in October with a market capitalisation of £300m.
As part of the pre-deal process, Megan O’Sullivan has been appointed managing director, bringing strong leadership credentials from the eCommerce and beauty space, having held several senior roles at THG.
“We are delighted to back Noted Aromas at this pivotal stage,” said Mauro Biagioni, investment partner of NVM Private Equity.
“The business has already proven its ability to attract and retain a loyal customer base and with the combined resources of NVM and eComplete backing Megan, we believe Noted has significant potential on an international scale.”
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Andy Duckworth and Paul Gedman of eComplete added: “This marks our second deal with NVM, and we are delighted to be partnering with the team again.
“Noted Aromas possesses the hallmarks of an early disruptor with a large global opportunity ahead. We look forward to sharing early progress updates throughout 2026.”
O’Sullivan said: “This investment marks a transformational moment for Noted Aromas and I am delighted to be leading the team as we embark on a period of rapid growth and internationalisation.”