Private equity firm PAI Partners has agreed to acquire a majority stake in Beautynova, a leading global professional haircare platform, from Bluegem.
WHO: Beautynova is a large and established player in the professional haircare market, headquartered in Milan, with a global footprint and a strong focus on USA. The group operates across the full B2B2C value chain, combining a portfolio of leading complementary professional brands (such as milk_shake, Medavit, and Depot) with a best-in-class contract development and manufacturer, Beautynova Elite, which supports indie brands from idea generation to after-sale, with >18,000 own formulations and an internal R&D team of +15 experienced chemists innovating +600 new formulas every year. Beautynova offers a high-quality and complete product portfolio of hair color formulations and technical products, shampoos and conditioners, caring, curative, and styling solutions.
Bluegem is a European specialist private equity firm investing in consumer staple businesses across the value chain (B2C; B2B2C; B2B). The Bluegem Investment Team works alongside experienced Portfolio Management and Functional Experts to deploy a proven toolkit for accelerating value creation that is underpinned by data analytics and includes, among other things, 360-degree digitalization of the businesses, international expansion, and product innovation. Bluegem focuses on businesses with characteristics of consumable products; low ticket but premium products; non-commodity items; with repeat purchase patterns within six distinct segments: Beauty & Personal Care, Home Care, Baby Care, Pet Care, Food & Beverage, and Health & Wellbeing.
PAI Partners is a private equity firm investing in market-leading companies across the globe. The firm has €27 billion of assets under management and, since 1994, has completed over 100 investments in 12 countries and realized more than €24 billion in proceeds from 60 exits. PAI has built an outstanding track record through partnering with ambitious management teams where its unique perspective, unrivaled sector experience, and long-term vision enable companies to pursue their full potential—and push beyond.
WHY: The company has a strong platform to accelerate growth across all its major markets, including the US and Europe. PAI, together with Bluegem, will support Beautynova and its management team in achieving its growth strategy of further developing its brands. PAI will draw on its significant experience in the sector to help Beautynova continue to adapt to evolving consumer trends.
IN THEIR OWN WORDS: Stefano Banfo, Beautynova CEO, said: “Emilio and Bluegem have been a true partner, bringing unwavering support for our innovative vision and enabling meaningful growth. Over the last four years, the company has strengthened the senior management team and invested in state-of-the-art production facilities, world-class ERP systems and innovative product development, ensuring we have the resources and expertise to push boundaries and set new industry standards. We look forward to working with PAI and Bluegem as we continue on this exciting journey of innovation and growth.”
Emilio Di Spiezio Sardo, Bluegem Founding Partner, said: “Beautynova exemplifies our playbook of creating alpha returns from everyday consumer staple businesses. Through partnering with a strong management team in an industry with robust fundamentals, we have delivered business transformation underpinned by international expansion, digitalisation and new product development. I would like to thank Stefano for his collaboration in driving this growth, which has swiftly delivered value for our investors. We are excited to share the second part of our journey with PAI Partners, a global investor with a strong track record in consumer businesses and a global footprint including the US, a strategic market for the company.”
Raffaele Vitale, a Founding Partner of PAI MMF, said: “Beautynova is an excellent business with a well-diversified offering and strong footprint in the attractive and resilient global professional haircare market. We look forward to working with Stefano and team, alongside Bluegem, on the next chapter of growth, continuing PAI MMF’s approach of partnering with strong brand platforms and building international leaders in the mid-market.”
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