Business news: design brand Tom Dixon has been sold by its Swedish owners to a British investment company, it has emerged.
The deal, which saw Dixon's holding company Design Research Group change hands, took place last June but received no publicity at the time.
Swedish investor Proventus announced the sale on its website, saying: "Proventus has agreed to sell Tom Dixon after owning the iconic British product design brand for more than ten years."
"The buyer is Neo, a British investment company focused on European brands with high potential to grow in new markets and channels," Proventus added.
Tom Dixon has been expanding internationally and opened a permanent store in New York's Soho neighbourhood at the end of 2015 Proventus had owned a majority stake in Tom Dixon since 2004, when the designer effectively sold his name to the Swedish investor.
Proventus, which specialises in restructuring and building companies, has recently changed strategy and has been offloading brands including Finnish furniture company Artek, which it sold to Vitra in 2014, and Swedish toy company Brio, which it sold last year.
"Proventus had changed their strategy from active investment in brands and I wanted to keep forging ahead," Dixon told Dezeen. "So I sought an active investor that believed in design. Neo were the most engaged and bought out my ex partners."

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