Belgian private equity firm Core Equity Holdings acquired a majority interest in leading European haircare services and product company Provalliance from Franck Provost.
WHO: Provalliance has a global network of over 3,000 salons operating under 17 separate leading brands, including Franck Provost and Jean-Louis David. It also operates Bleu Libellule, a fast-growing omnichannel distributor of professional haircare products.
Core Equity Holdings is an innovative, European private investment advisor that focuses on partnering with long-term oriented management teams, families, and corporates seeking to actively grow and build their businesses. It focuses on companies with long-term growth potential with enterprise values between €300MM and €1,000MM.
WHY: A majority stake in the company was sold to help accelerate its developments in France and abroad.
IN THEIR OWN WORDS: Franck Provost commented: “Our partnership with Core Equity Holdings will allow the company to continue to thrive whilst remaining true to our core tenets of family-like stewardship and long-term orientation.”
Pierre Heinrichs, a Partner at Core Equity Holdings, commented: “We have been impressed by Provalliance’s market leadership and long track record of growth. We are delighted to start this partnership with Franck Provost and Provalliance’s outstanding management team, led by Marc Aublet. This investment illustrates our unique positioning, combining both long-term and active ownership to help a focused portfolio of high quality businesses unleash their full potential.”
Marc Aublet, CEO of Provalliance, added: “I am excited about the road ahead for Provalliance under the stewardship of Core Equity and the Provost family. I would also like to thank the Core Equity team for the trust they’ve placed in us and our continued ability to shape the future of the European haircare industry.”
Arthur de Clermont-Tonnerre, Head of France coverage at Core Equity Holdings, commented: “Franck Provost is exactly the kind of entrepreneur we seek to partner with. He opened his first salon over 40 years ago and has patiently grown his business into a true European champion. We have been in discussions with him and the team for over two years now and I am thrilled at the prospect of Core Equity helping them continue to build on Franck’s impressive legacy.”
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