The what? Private equity investor Advent has announced the acquisition of professional haircare brand Olaplex.
The details Financo acted as exclusive financial advisor to Olaplex on the transaction, while Goldman Sachs & Co. LLC served as exclusive financial advisor to Advent International. Financial details of the acquisition were not disclosed, however, Olaplex is reported valued at around £1 billion.
Olaplex co-founder Dean Christal said, “Damaged hair is a
universal problem. Having grown up in the beauty business, I was inspired to
disrupt the hair care industry by developing a technology that protects hair
“With Advent’s shared vision and deep experience in supporting high-growth businesses, we look forward to enhancing our company’s strong customer loyalty globally and across channels and realizing our ambitious growth plan.”
The why? Having amassed a loyal following in the professional hair care market, and on social media, thanks to its ability of ‘bond-building’, Olaplex is one of largest independent hair care brands, so it’s little wonder Advent wanted a piece of the action.
Indeed, according to Tricia Glynn, a Managing Director at Advent, it’s the brand’s fast growth rate that attracted the private equity firm. She said, “Olaplex has differentiated itself by offering superior products backed by patents. It is rare that we see brands of this size growing so rapidly and with such a passionate consumer base. We believe the company has significant runway for growth by increasing its brand awareness globally, broadening its product line of innovative ‘hero’ products, and further developing its ability to speak and sell to consumers directly.”