BEAUTYNOVA acquired by PAI PARTNERS

Harvia acquired 100% of ThermaSol in an all-cash, debt-free transaction. The acquisition addresses a recognised strategic gap in Harvia's product portfolio — the company had historically held a strong position in traditional sauna heaters but a significantly weaker position in steam and infrared saunas, segments identified as difficult to enter organically as communicated at Harvia's Capital Markets Day in spring 2024. The US was already Harvia's largest market prior to the transaction, and ThermaSol's established brand and distribution presence in the steam segment provides Harvia with an immediate and meaningful platform to accelerate its growth in this category

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

Style Capital acquired a 50.2% controlling stake in Autry International from the "Made in Italy Fund" (managed by Quadrivio & Pambianco) and the founding family. The family retains a significant 42% stake, while Quadrivio reinvests for an 8% minority stake via its new vehicle "Lifestyle Fund II". The deal marks a highly successful exit for the sellers, generating a 4x Cash-on-Cash return and 75% IRR in less than 3 years. The new ownership aims to pivot the brand from a wholesale-led model to a retail-led model, with plans to open over 20 flagship stores globally

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

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

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

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.

This growth equity transaction represents the entry of Transformation Capital as the majority institutional shareholder of Kubus Sports, partnering with long-standing CEO and co-owner Alex Cretier to transition the business from a regional brand aggregator into a scalable global house of premium sporting brands. The transaction is executed immediately following Kubus Sports' transformative acquisition of US-based watersports pioneer Naish earlier in 2026, an expansion that elevated the target's international profile but required sophisticated institutional backing to manage the resulting multi-jurisdictional integration and working capital requirements

Natural Cosmetics Holland has entered into an agreement with Karmijn Kapitaal, which acquires a majority stake in the company. This strategic transaction aims to accelerate the growth of Natural Cosmetics Holland, which has already doubled its revenue in the last year. With the support of Karmijn Kapitaal, the company aims to strengthen its position in the natural personal care products market and continue its expansion in the private label segment. The investment will be used to modernize production equipment, strengthen the organization, and optimize processes