LVMH-backed private equity firm L Catterton is set to acquire a significant minority stake in Paris-based fragrance brand Ex Nihilo as Eurazeo exits its investment.WHO: Founded in 2013 by three friends—Sylvie Loday, Olivier Royère, and Benoît Verdier—Ex Nihilo (meaning “created out of nothing” in Latin) is an authentic French luxury brand bringing to the fore the pinnacle of know-how in perfumery. The brand's value proposition seamlessly blends modernity, personalization, edgy artistic collaborations, and luxury craftsmanship, resulting in high-quality and exclusive fragrances. Partnering with renowned master perfumers and using the finest ingredients to create unique scents and products, the brand leverages technology through its “Osmologue” machine, a high-precision fragrance blending system, to offer new-age personalization services to customers. The collection launched with nine fragrances and has expanded to a collection of 78, priced between $165 and $365.Eurazeo is a leading European investment group listed on Euronext Paris. The Group supports more than 600 mid-market companies, leveraging the commitment of its 400 employees, sector expertise, and privileged access to global markets via 12 offices in Europe, Asia, and the United States. The firm announced it will be shutting down its brand investment arm.L Catterton is a market-leading consumer-focused investment firm, managing approximately $34 billion of equity capital across three multi-product platforms: private equity, credit, and real estate. Founded in 1989, the firm has made over 250 investments in some of the world's most iconic consumer brands.