AUTRY INTERNATIONAL acquired by STYLE CAPITAL

The exit of L&S from the Clessidra Capital Partners 3 portfolio represents a successful structural maturation of an Italian design champion into a global industrial leader. The strategic rationale for this transaction centers on a "market-consolidation" play, leveraging the target's industry-leading technical operational depth in embedded LED systems to fuel a new phase of international buy-and-build activity. This structural alignment provides the organization with the institutional capital and global network of the new sponsor, which is required to address the increasing complexity of smart-home integration and sustainable commercial lighting.

Ardian is acquiring a majority stake in Groupe Hameur (Magimix and Robot-Coupe) from the De Jenlis Family. The transaction was structured as a primary LBO following a competitive auction process managed by investment banks. The process initially attracted interest from both strategic industrial players and a dozen private equity firms, eventually narrowing down to a final round involving three major global investment houses. The investment strategy is centered on accelerating growth in key international markets, particularly the United States, by leveraging the acquirer's local expertise. Beyond organic growth, the partnership aims to consolidate the fragmented market for professional culinary equipment through targeted bolt-on acquisitions. The founding family remains a minority shareholder to support this new phase of international expansion.

PAI Partners entered into a definitive agreement to acquire a 51% controlling stake in Beautynova from Bluegem Capital Partners to accelerate the group's global scaling. This strategic move follows a period of rapid transformation under Bluegem’s ownership since 2020, during which the company tripled its sales and expanded significantly into the US market. Post-transaction, Bluegem retains a 47% minority interest alongside a syndicate of co-investors and the company’s management team, ensuring continuity in leadership and strategy. The partnership is designed to leverage PAI's international infrastructure to further penetrate the resilient high-end beauty sector and set new industry standards in innovative product development.

Suave Brands Company, a portfolio company of Yellow Wood Partners, has acquired the ChapStick brand from Haleon. The deal positions ChapStick within a dedicated, independent North American beauty & personal care platform, combining its leading lip‑care franchise with Suave’s value‑oriented mass‑retail footprint and operational capabilities. The acquisition is intended to create synergies in distribution, back‑office functions, and marketing, while enabling Suave Brands Company to scale its retail sales to approximately USD 800 million annually. The transaction illustrates Yellow Wood’s strategy of building a limited number of branded consumer platforms through bolt‑on acquisitions and deep operational engagement.

Kering Beauté has finalized the acquisition of 100% of House of Creed from funds controlled by BlackRock Long Term Private Capital Europe and Chairman Javier Ferrán. The all-cash transaction represents the buyer's first major strategic initiative to build scale within the high-growth haute parfumerie market segment. The asset transfer instantly provides the acquirer's young beauty division with institutional scale and a mature global distribution footprint. This logistical network is designed to serve as an operating platform to accelerate the development of the buyer's future in-house fragrance portfolios. Post-acquisition management intends to scale the target's presence in mainland China and international travel retail channels while expanding into feminine scents and body care categories. Following unconditional clearance from relevant anti-trust authorities, operational control has been transferred and the business is fully consolidated.

Style Capital has acquired an 80% stake in Sœur from Experienced Capital (ECP) and the brand’s founders. The transaction marks a highly successful exit for ECP, which realized a "6x money" return on its initial 2016 investment. The founding Brion sisters will retain a 20% minority stake and remain active in the business alongside CEO Freja Day. The strategic rationale for the deal is to accelerate Sœur’s international expansion, with the objective of reaching 50% of sales outside of France. The transaction was structured as a Leveraged Buyout (LBO) with "reasonable leverage," financed equally by the Italian fund Ver Capital and a pool of Sœur’s historical banks, including BNP Paribas and LCL. This partnership positions Sœur to leverage Style Capital's proven track record in globalizing contemporary fashion brands.

The global private equity firm Advent International has acquired a majority stake in the group owning the niche fragrance houses Parfums de Marly and Initio Parfums Prives. The founder, Julien Sprecher, reinvests alongside Advent. The partnership aims to accelerate the brands' global expansion, particularly in Asia and the Americas, and to strengthen their omnichannel distribution network. This transaction underscores the booming interest of financial investors in high-growth niche perfumery assets.

Siparex acquired a majority stake in Sodikart, succeeding Evolem (shareholder for 15 years). Siparex invested between EUR30M and EUR50M. The founder and management team retain a minority stake. Supported by a debt lever of 3x EBITDA, the goal is to double the group's size within 5 years through international M&A.

The acquisition of My Jolie Candle by Emosia Group represents a strategic consolidation in the home fragrance sector, specifically designed to diversify the acquirer's product portfolio and accelerate its digital transformation. By integrating a successful Digitally Native Vertical Brand (DNVB), the acquirer secures a direct connection to a younger, millennial consumer base, effectively balancing its traditional retail distribution strengths with new e-commerce agility. The target’s innovative product concept complements the acquirer's existing high-end brand lineup, creating a robust, multi-generational portfolio. This transaction is structured to preserve the target's pioneering spirit and innovative culture while providing the operational scale and global distribution infrastructure of the larger group. Operationally, the deal grants the target immediate access to a vast international network of over 1,200 points of sale, significantly scaling its distribution reach beyond its native digital channels.

BC Partners, a European private equity firm, acquired a majority stake in Havea from 3i and Cathay Capital. The transaction is structured as a new Leveraged Buy‑Out, with BC Partners XI—the firm’s 11th flagship fund, closed at about EUR 5.3 billion—taking the lead and bringing in co‑investors PSP Investments from Canada and NPS Investment Management from South Korea as minority partners. 3i and Cathay Capital fully exit the position, while the management team led by CEO Nicolas Brodetsky reinvests alongside the new sponsors, aligning incentives for a second turn of value creation. Havea, formerly known as Ponroy Santé, had grown its revenue from a much lower base in 2017 to over EUR 212 million in 2021, with EBITDA rising to above EUR 70 million, driven by a double‑digit organic growth profile and a series of bolt‑on acquisitions that reshaped the group around five flagship brands: Aragan, Biolane, Densmore, Dermovitamina, and Vitavea. The board attributes the deal’s compelling valuation to favorable macro tailwinds in natural health, consumer‑healthcare structuring led by large pharmaceutical groups, and a strong, diversified brand portfolio with clear potential for European expansion.