Davies launched the company from her university bedroom and grew it into an international retailer of paper craft, art, and sewing products, valued at over £25 million in 2019. Earlier this year, she returned as chief executive after the business entered administration and was sold via a pre-pack deal to Modella Capital.
Modella has now sold its interest to Glasgow-based Maven Capital Partners and Davies, who will retain a significant minority stake. The financial terms have not been disclosed.
Under Davies’s renewed leadership, Crafter’s Companion returned to profitability in May. She will now step down as chief executive, handing day-to-day operations to Diane Sharp, initially brought in as financial controller and later promoted to managing director.
The company is set to open a US warehouse in the coming weeks, a move prompted by the Trump administration’s removal of tariff exemptions on lower-value imports.
Davies, who remained a non-executive director after selling the business to Growth Partner in 2024, said the company had “lost its way” under previous management, who shifted focus from its core crafting audience to a broader market.
“Our customers are generally older, retired ladies with time and disposable income,” she told The Times. “We don’t compete on price; we deliver exceptional products at the higher end of the market. The strategy pivot went after a much broader audience, and in my eyes, we had no right to win there.”
Maven’s investment marks the latest phase in the turnaround of the County Durham-based firm, which is re-focusing on product development — historically its largest area of investment — and its established, loyal customer base.
Jamie Young
Jamie Young is Senior Reporter at Business Matters, covering SME finance, employment law and Westminster policy since 2016. He has reported on every Budget and Autumn Statement since 2018, helped make sense of the 'covid era' and the bounce-back loan scheme from launch through the fraud investigations, and broke the magazine's coverage of the 2024 late-payment reforms. He joined Business Matters straight from completing his BA in Administration from Exeter University and is NCTJ-qualified. Reach him at jyoung@cbmeg.co.uk
