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M&A Deal Summary

PAI Partners Acquires Beautynova

On March 18, 2024, private equity firm PAI Partners acquired consumer products company Beautynova from BlueGem Capital Partners

Acquisition Highlights
  • This is PAI Partners’ 4th transaction in the Consumer Products sector.
  • This is PAI Partners’ 5th transaction in Italy.

M&A Deal Summary
Date 2024-03-18
Target Beautynova
Sector Consumer Products
Buyer(s) PAI Partners
Sellers(s) BlueGem Capital Partners
Deal Type Secondary Buyout
Advisor(s) Alvarez & Marsal (Financial)

Target

Beautynova

Milan, Italy
Beautynova is a producer of hair care products with a modern research laboratory for the formulation of innovative professional products for the hairdressing industry. High-quality products and a global assistance service covering all stages of product development, production, and distribution have made Pool Service the supplier of choice for numerous international customers of the highest standing. Beautynova is based in Milan, Italy.

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Buyer(S) 1

Buyer

PAI Partners

Paris, France

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 28.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

PAI Partners is a European private equity firm that makes controlling equity investments in buyout transactions valued in excess of €300 million. PAI is particularly interested in 'investing in consolidating sectors and in markets where growth can be sustained through economic and financial market cycles.' Sectors of interest include consumer retail, professional distribution, building materials, infrastructure and utilities, media, IT, communications, food, consumer goods, healthcare, chemicals, automotive, aeronautics, paper & packaging, electrical appliances, and household equipment (heating, air-conditioning, security). The firms invest in the range of €100 - €300 million transaction. PAI was formed in 1998 and is based in Paris with additional offices in Madrid, Milan, Munich, Luxembourg, Copenhagen, and London.

DEAL STATS #
Overall 91 of 94
Sector (Consumer Products) 4 of 5
Type (Secondary Buyout) 44 of 46
Country (Italy) 5 of 5
Year (2024) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-27 ELITech Group

Puteaux, France

ELITech Group provides a fully integrated diagnostics platform developing equipment and reagents with strong positions in niche and growing sub-segments of molecular diagnostics, microbiology, and clinical chemistry. It has developed a razor-razorblade model through the placement of diagnostic instruments which provide a resilient revenue stream from reagents, consumables, spare parts, and services. ELITech Group was founded in 1987 and is based in Puteaux, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-23 Audiotonix

Chessington, United Kingdom

Audiotonix designs, engineerings, and manufactures professional audio mixing consoles, production software, and ancillary products. With pioneering solutions from premium audio brands Allen & Heath, Calrec, DiGiCo, DiGiGrid, Fourier Audio, Harrison, KLANG: technologies, Slate Digital, Solid State Logic, sonible, and Sound Devices, its products are used extensively in live sound, broadcast, theatre production, installations, houses of worship, TV and film production, music creation and recording studios. Audiotonix is based in Chessington, United Kingdom.

Buy -

Seller(S) 1

SELLER

BlueGem Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2006
PE ASSETS 1.0B EUR
Size Large
Type Sector Focused
DESCRIPTION

BlueGem Capital Partners LLP is an independent private equity firm that invests in mid-market European businesses in Europe, primarily those based in the UK and Italy. The Firm looks to invest €30 – €60 million per transaction. Specific areas of interest include retail, consumer goods/brands, wholesale distribution, and business services. Types of transactions include growth capital financings, MBOs, MBIs, and replacement capital. BlueGem Capital Partners LLP was spin-off of Merrill Lynch Global Private Equity. BlueGem Capital Partners LLP was formed in 2006 and is based in London.

DEAL STATS #
Overall 7 of 7
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 3 of 3
Country (Italy) 2 of 2
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-04 Dr. Vranjes Firenze

Firenze FI, Italy

Dr. Vranjes Firenze is a pharmacist, chemist, and cosmetologist focused on providing innovative treatments and exclusive products for the person and for the home. Dr. Vranjes Firenze was formed in 1983 and is based in Firenze FI, Italy.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-07 Pinard Beauty Pack

Martignat, France

Pinard Group specializes in the design and manufacture of packaging solutions for prestige and luxury brands in the BPC space through the Pinard Beauty Pack (PBP) subsidiary and for pharmaceutical customers through its Lablabo subsidiary. The Group addresses prestige and masstige brands while serving a long-standing clientele. Distribution is primarily focused in France (60%) where most trades are, followed by the Rest of Europe (30%) and the US (10%). Pinard Beauty Pack was founded in 1970 and is based in Martignat, France.

Buy -
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