Bluegem sells Beautynova majority stake to PAI Partners

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The private equity firm Bluegem, located in London, has reached an agreement with PAI Partners to purchase the majority of Beautynova, a professional haircare platform.

After the deal is completed, Bluegem will keep “a significant shareholding alongside a syndicate of Bluegem co-investors,” but PAI will retain a majority stake. The acquisition will be undertaken through PAI’s fund specifically designated for mid-market possibilities.

Milk_shake, idea, and Medavita are only a few of the high-end brands owned by Beautynova, an Italian company with headquarters. Additionally, it creates professional haircare products for coloring, style, and hair treatment.

Through professional and consumer channels, it exports to more than 70 countries, with 70% of its sales coming from markets outside of Italy, primarily the US and Europe.

Since taking ownership of it in 2020, Bluegem has increased sales by more than three times and expanded the company’s reach internationally, “with a particular focus on the US, which today generates 18% of the company’s sales.”

The business now has “a strong platform to accelerate that growth across all its major markets,” the statement continued.

“Beautynova exemplifies our playbook of creating alpha returns from everyday consumer staple businesses,” stated Emilio Di Spiezio Sardo, Founding Partner of Bluegem. In an industry with solid foundations, we have collaborated with a capable management team to execute business transformation supported by global expansion, digitalization, and new product development. We are thrilled to discuss the next phase of our adventure with PAI Partners, a worldwide investor with a solid track record in consumer-focused firms.

“Emilio and Bluegem have been a true partner, bringing unwavering support for our innovative vision and enabling meaningful growth,” said Beautynova CEO Stefano Banfo. In order to ensure that we have the means and know-how to push limits and establish new industry standards, the company has made investments in cutting-edge production facilities, top-notch ERP systems, and creative product development during the past four years. It has also expanded its senior management team. As we proceed on this thrilling path of innovation and expansion, we are excited to collaborate with PAI and Bluegem.

In addition, Bluegem funds have invested in Mamas & Papas; they have also previously invested in companies such as Liberty London and Jack Wills.

Ethan Sullivan

Ethan's penchant for the pulse of the fashion world extends to covering lifestyle topics, offering readers a seamless blend of the latest style updates and lifestyle trends.

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