DOSSIER acquired by AMERICAN PACIFIC GROUP (APG)

Artsana undergoes a structured balance sheet reinforcement combining a shareholder loan conversion and a capital injection jointly executed by Investindustrial and the Catelli family, aimed at consolidating the group’s financial architecture and supporting its ongoing industrial repositioning. The transaction is based on the conversion into equity of a shareholder loan originated in the context of the 2016 LBO, complemented by a cash capital increase subscribed by both reference shareholders. The total reinforcement amounts to €258 million, of which approximately €208 million derives from the conversion and €50 million from new cash contributions

Capza has entered into exclusive negotiations to acquire a minority stake in Respire as part of its Flex Equity strategy. This transaction marks a new milestone in Respire's development, while maintaining founder control over the company. The deal primarily involves the buyout of shares held by historical investors who participated in a previous funding round (Bpifrance, Raise Ventures, and Kostogri), with Capza becoming the company's primary minority financial partner. In parallel, the founders are taking the opportunity to slightly strengthen their position and retain a comfortable majority stake in the company

L’Oréal has finalized the cross-border acquisition of Kering Beauté from the luxury group Kering, executing an alliance initiated in October 2025. The transaction encompasses the outright acquisition of Maison Creed, a historic luxury fragrance house. Concurrently, the deal architecture secures exclusive 50-year commercial operating licenses for the creation, development, and global distribution of beauty and fragrance portfolios for both the Bottega Veneta and Balenciaga brands. The agreement also establishes structured forward-looking rights for a 50-year exclusive beauty licence covering the flagship Gucci brand, which will trigger automatically following the expiration of its legacy contract with Coty

Malibu Boats has acquired Saxdor Yachts to add a European adventure‑dayboat brand to its portfolio and to secure manufacturing capacity in the region. The transaction was announced in early March 2026 following months of confidential negotiations and received regulatory clearance in both the United States and the European Union. Malibu cited the acquisition as a means to diversify its product offering, leverage Saxdor’s established dealer network across Europe, and mitigate supply‑chain risk by operating multiple production sites

Siparex ETI has signed an agreement to acquire a majority stake in ATK Sports, succeeding Progressio SGR, which had been the majority shareholder since 2021. This transaction is a secondary LBO conducted alongside the founding Indulti family, led by CEO Davide Indulti, and supported by financial co-investors including BNP Paribas. The deal represents a significant milestone for Siparex’s Italian team, illustrating the group’s strategy to strengthen its pan-European footprint by supporting high-performing Italian industrial exporters

The transaction involves the acquisition of 100% of Vervent Audio Group by the Belgian industrial group Barco. This deal marks a significant strategic pivot for Barco, shifting from a pure visualization specialist to a fully integrated provider of premium audiovisual solutions. By integrating Focal and Naim into its Entertainment division, Barco aims to capture the growing market for "immersive experiences" in both professional settings (cinemas, auditoriums) and high-end residential environments (luxury home cinemas)

Henkel has entered into a definitive agreement to acquire 100% of Olaplex Holdings, Inc. for a cash consideration of $2.06 per share. The deal has received unanimous approval from Olaplex’s Board of Directors and the irrevocable support of its controlling shareholder, Advent International. The strategic rationale for the acquisition is the integration of Olaplex’s patented "bond-building" technology and its strong professional-led distribution model into Henkel’s Consumer Brands infrastructure. This merger allows Henkel to fill a critical gap in its prestige portfolio, providing a springboard for accelerated innovation and molecular-level hair repair solutions

Highline Warren acquired the Sprayway brand from PLZ Corp in a transaction valuing the asset at approximately $300 million (based on reported deal rumors from late 2025). Both companies are portfolio companies of Pritzker Private Capital. The deal followed a strategic review led by Goldman Sachs where external bids were considered. Ultimately, the asset was moved to Highline Warren to leverage its massive automotive distribution network (auto parts stores, mechanics) where Sprayway's industrial and auto-detailing products have high growth potential

Quadrivio Group is in advanced negotiations to acquire a majority stake in Les Secrets de Loly. The Italian fund prevailed in a competitive auction process. The current minority investor, Quilvest Capital Partners (who entered in 2022), is expected to exit. Founder and CEO Kelly Massol will reinvest a significant portion of her proceeds and remain a key shareholder to drive the next phase of growth. The deal is expected to close in February 2026.

Coty has sold its remaining 25.8% stake in hair care brand Wella to KKR for $750 million, while retaining its rights to a portion of the proceeds from any future sale or initial public offering. This transaction marks the end of a program launched in 2020 to simplify Coty's portfolio and operations, and allows the company to reduce its debt and refocus on its fragrance segment. KKR's strategy is based on identifying companies with long-term growth potential, and creating value for shareholders through proactive management and expertise in value creation