PAI Partners is acquiring professional hair care platform Beautynova.
Financial terms of the agreement were not disclosed, but PAI said it will make the transaction through its mid-market fund PAI MMF. After the deal is completed, Bluegem and a syndicate of Bluegem co-investors will maintain a significant shareholding.
The plan is to step up those gains in all of Beautynova’s leading markets and to further develop its brands. “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,” said Stefano Banfo, chief executive officer of Beautynova.
“Beautynova is an excellent business with a well-diversified offering and strong footprint in the attractive and resilient global professional hair care market,” said Raffaele Vitale, a founding partner of PAI MMF.
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