what? Private equity investor Advent has announced the acquisition of professional hair care brand Olaplex.
detail Financo acted as exclusive financial advisor to Olaplex in this transaction, and Goldman Sachs & Co. LLC acted as exclusive financial advisor to Advent International. Financial details of the acquisition were not disclosed, but Olaplex is valued at around £1 billion.
Dean Crystal, co-founder of Olaplex said: Having grown up in the beauty industry, I was inspired to disrupt the hair care industry by developing techniques to protect hair from damage.
“With Advent’s shared vision and deep experience in supporting high-growth businesses, we look forward to strengthening our strong customer loyalty globally and across channels, and delivering on our ambitious growth plans.”
The reason is? With a loyal following in the professional hair care market and on social media, Olaplex is one of the largest independent hair care brands thanks to its ability to “build ties”.
In fact, according to Tricia Glynn, managing director of Advent, it’s the brand’s rapid growth rate that has attracted private equity firms. “Olaplex has differentiated itself by offering superior, patent-backed products. We believe that by building global brand awareness, expanding our portfolio of innovative “hero” products, and further developing our ability to speak directly to and sell to consumers, I believe we have a great runway. ”