KJ Ryan was founded by Kevin Ryan in 2007 and specializes in the development and manufacturing of high-end interior components for luxury cars.
It employs more than 150 specialist staff at its site in Wayside Business Park and works with several UK car manufacturers.
KJ Ryan will become part of the Interiors in Motion Business Unit of Poltrona Frau based in Tolentino, Italy, which focuses on luxury leather automotive interiors.
The combined entity will become the European leader in the development and manufacturing of interiors for luxury and bespoke vehicles, with a turnover of around €120 million, more than 600 employees and three manufacturing plants in Italy and the UK.
Steve Halkett, Partner and Head of Corporate at Warwickshire-based Wright Hassall, led on the legals for KJ Ryan.
He said: “KJ Ryan is a great local business with strong links to the UK automotive industry, while Poltrona Frau is extremely well known in the European markets, so the acquisition is extremely beneficial for both businesses.
“Kevin built up the business from scratch, and it is always very pleasing to support in the sale of owner-managed company.
“We worked with Kevin and his team to understand what support they needed, and I was really pleased for Kevin and his family once completed.
“We now look forward to seeing the continued success of both KJ Ryan and the wider business.”
Kevin, who will remain in the business, added: “Joining forces with Poltrona Frau and Haworth Lifestyle makes me very confident that the skills, know-how and credibility I have built over 40 years of work in the sector have found the best possible platform to be nurtured and expanded in the future.
“Steve and the Wright Hassall team were brilliant throughout the transaction and their experience and guidance was invaluable.”
Dafferns LLP provided financial and tax support for the sellers.
Gowling WLG and Advane Nctm provided legal support to the Poltrona Frau and EY provided financial and tax support.
Pictured: Kevin Ryan, of KJ Ryan, and Giovanni Maiolo, of Poltrona Frau, with KJ Ryan colleagues at the site in Coventry
