GHD, a maker of hair straighteners, has changed
ownership from Montagu Private Equity to Lion Capital in a deal pegged
at around £300m (€352m).
Montagu has made 3x its money on the
deal, which was financed by Lloyds, having paid £160m for the business
back in 2007. Since then profits have more than doubled to over £32m on
current revenues of over £150m and sales of over two million units.
Simon
Pooler, director at Montagu, said: “We were originally attracted by the
strength of the GHD brand and its remarkable customer loyalty. We also
saw excellent potential to continue its growth in international markets
and great opportunity to develop its new product range and sales
channels.”
GHD has an endorsement deal with pop virtuoso Katy
Perry, who is the manufacturer's global brand ambassador after appearing
in a collection of stills.
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