Les Secrets de Loly has been acquired by private equity vehicle Lifestyle Fund II,. in partnership with Weinberg Capital Partners and asset management platform Three Hills.
The acquisition sees Lifestyle Fund II take a majority stake in the French hair care brand, which specialises in products for wavy, curly, coily, frizzy and afro-textured hair.
This marks the first foray into beauty for Lifestyle Fund II – a subsidiary of private equity fund Quadrivio & Pambianco which invests in companies active in the lifestyle, fashion, design, beauty, and food and wine sectors – and the fifth investment overall.
Founded in 2009 by Kelly Massol, Les Secrets de Loly has registered annual growth exceeding 40% over the last three years, according to the brand.
The acquisition is said to mark the start of a new chapter for the hair care company, with a focus on international expansion across Europe and the Middle East and a target of €100m and above in turnover.
Founder Massol will be significantly reinvesting in the brand, and the management team, led by CEO Carlota Thévenot, is set to remain in place.
“Les Secrets de Loly shows all the attributes of a highly attractive brand: leadership within its niche, strong organic growth, profitability, and a committed management team,” said Philippe Franchet, Managing Partner at Quadrivio Group.
“We will be supporting this business during its European expansion and in value creation throughout this new cycle.”
Alessandro Binello, Group CEO at Quadrivio Group, added: “We are excited to be part of the Les Secrets de Loly world.
“The company's growth over recent years stands as just the first step in a much longer development journey, one that we will be guiding thanks also to Quadrivio Group's consolidated experience in the beauty-care sector, which is of significant strategic importance for us.
“We firmly believe in the brand's potential… and we intend to invest further in its positioning while accelerating its international rollout across Europe and beyond.”
Massol commented: “This operation marks a new phase for the brand.
“Following a successful structuring period with Quilvest, today we have solid foundations to accelerate internationally while also preserving our DNA.”