Beautynova, the professional haircare platform, has been acquired by private equity firm PAI Partners from Bluegem Capital Partners for an undisclosed amount. PAI Partners announced that the acquisition would be made through its fund dedicated to mid-market opportunities, with PAI becoming the majority shareholder holding a controlling stake. Bluegem will retain a significant shareholding, along with a syndicate of Bluegem co-investors.
Headquartered in Italy, Beautynova is the owner of premium haircare brands such as Milk_Shake, Z.one concept, and Medavita. The company is renowned for developing professional haircare products spanning hair treatment, coloring, and styling, boasting over 18,000 formulas. Beautynova's products are exported to more than 70 countries, with 70% of its revenues coming from international markets, particularly the US and Europe, through both professional and consumer channels.
Under Bluegem's ownership since 2020, Beautynova has significantly increased its sales, tripling its revenue and expanding geographically. The company has focused on the US market, which now contributes 18% of its total sales. PAI Partners aims to further accelerate this growth across all major markets, with a specific emphasis on the US and Europe.
Stefano Banfo, the CEO of Beautynova, expressed confidence in the company's trajectory, highlighting investments in senior management, production facilities, ERP systems, and product development. Banfo emphasized the company's commitment to innovation and setting new industry standards. He looks forward to collaborating with PAI and Bluegem to continue driving innovation and growth.
Raffaele Vitale, a founding partner of PAI MMF, praised Beautynova as a strong business with a diversified product portfolio and a solid presence in the global professional haircare market. Vitale expressed enthusiasm for partnering with Beautynova's team to propel the company's growth and build upon its success in the mid-market segment.
