European private equity fund Vendis Capital enters the cosmetic treatment market with the acquisitions of SOAP and BM Clinics.WHO: Inspired by New York City spas, SOAP was founded in Amsterdam in 2005 by sisters Esther and Stephanie Litjens. The concept has grown into a premium chain of boutique clinics available in seven cities in Netherlands offering a wide range of beauty treatments—from manicures to facials and injectables to laser hair removal. Doctor David Mosmuller joined in 2019 to expand the services offering injectable treatments according to the "no trace face" principle: a fresher, younger appearance without looking treated.BM Clinics was started in Eindhoven in 2013 by Monique Vonken as a value-for-money provider offering primarily injectable cosmetic procedures carried out exclusively by doctors. BM Clinics is active in nine cities in the Netherlands with its affordable concept.Belgium-based Vendis Capital focuses on the European consumer market and participates in small and medium-sized enterprises. Deals are concluded in partnership with experienced entrepreneurs and managers.WHY: For the most part, cosmetic treatments are still offered in small independent clinics in the Netherlands. Vendis will create a new group merging the two businesses and the 17 clinics. Further acquisitions and the opening of new clinics will position the group to become a European leader.IN THEIR OWN WORDS: CEO David Sloff said, “I am impressed with the strong brands the founders have established. I look forward to accelerating the company’s growth together, supported by Vendis Capital’s expertise in building brands and their experience in rolling out winning concepts.