BEAUTYNOVA acquired by PAI PARTNERS
Context
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.
BEAUTYNOVA, which reported an EBITDA margin of in 2023, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Retail & Consumer sector (10.6x).
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Target
Beautynova functions as a leading global platform in the professional haircare industry, managing a premium portfolio of brands such as milk_shake®, z.one concept™, Medavita, and Urban Tribe. The group operates as a specialized developer and manufacturer with an extensive library of over 18,000 proprietary formulas covering hair treatment, coloring, and styling. Its business model is highly internationalized, exporting to more than 70 countries and generating 70% of its revenue outside its domestic Italian market, with a particularly strong footprint in the United States and Europe. The organization maintains state-of-the-art production facilities and serves both professional salon channels and high-end consumer retail markets through a digitally integrated supply chain.
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| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 07/2024 | EMK CAPITAL | L&S LIGHTING INTELLIGENCE | ITALY | Home & DIY |
| 07/2024 | HARVIA | THERMASOL | UNITED STATES | Personal & Household |
| 03/2024 | STYLE CAPITAL | AUTRY INTERNATIONAL | ITALY | Fashion & Apparel |
| 02/2024 | BLACKSTONE | Rover Group | UNITED STATES | Pet Care |
| 01/2024 | SUAVE BRANDS COMPANY | CHAPSTICK | UNITED STATES | Hygiene & Beauty Brands |
| 10/2023 | KERING | CREED | FRANCE | Hygiene & Beauty Brands |
| 09/2023 | STYLE CAPITAL | SOEUR | FRANCE | Fashion & Apparel |
| 06/2023 | ADVENT INTERNATIONAL | PARFUMS MARLY & INITIO | FRANCE | Hygiene & Beauty Brands |
| 05/2023 | TRANSFORMATION CAPITAL | KUBUS SPORTS | NETHERLANDS | Sport |
| 05/2023 | SIPAREX | SODIKART | FRANCE | Cycling & Micromobility |
REFERENCES
Valuation range: EV 300M - 700M EUR
Revenue range: 100M - 200M EUR
EBITDA range: 10M - 30M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Acquirer: pai partners