BlueGem acquired an Italian supplier of professional hair care products

BlueGem Capital Partners (BlueGem for short) announced the acquisition of Italy's leading professional hair care products. Product supplier Pool Service, the specific transaction amount has not been disclosed.

Pool Service was originally owned by Italian private equity fund Accord Management and Cataneo family. In 2012, Accord Management acquired a controlling stake in Pool Service from the Cattaneo family, but the Cattaneo family still participated in the daily operation and management of Pool Service.

Pool Service Group is a high-end professional hair care product supplier integrating R&D and production. Its headquarters is located near Milan. Its products cover, conditioner, hair film and other scientific and technological and cleaning products, hair wax, mousse, hair gel and other styling products, as well as special physiotherapy with Anti-Sebum and anti-hair loss effects. Products.

Pool Service includes its own brand and third-party authorized cooperative brand, among which Medavita is the most famous. Founded in 1963, the brand is famous for its efficient and scientific formula to provide consumers with a full range of professional hair care products. It was acquired by Pool Service Group in 2015. Pool Service has strong R&D capability, has its own R&D laboratory, and has more than 10,000 patent formulations. In 2018, 700 new products were developed. Group experts have also developed a variety of hair dyes, the existing primary color formula more than 600.

Pool Service Group now has three offices near Valezer, Italy and Milan, with 132 employees. In 2018, Pool Service Group had sales of about 40 million euros, and its products were exported to more than 70 countries worldwide, accounting for 60% of total sales. Stefano Banfo, the current CEO and shareholder of NbspGroup, will reinvest in the Group and remain in charge of the Group's expansion in the coming years.

Stefano Banfo said: "BlueGem focuses on developing leading consumer brands in the world, and working with the fund is a great opportunity for Pool Service Group and Medvita brand. This investment has opened a new stage of development for our company." Constantin Rojahn, chairman of Bluegem, said: "We are pleased to have completed the third investment in the beauty industry in less than two years. We regard this acquisition as the basis for entering the field of hair care. We will consolidate our position in this market by actively seeking to acquire more leading independent hair care brands in the future.

Bluegem first acquired German skincare and Spa brand QMS Medicosmetics in October 2017, then acquired majority stake in Iconic London in July 2018, formally entering the beauty field. Deloitte served as Bluegem's financial adviser, Latham & Watkins and Gattai, Minoli and Agostinelli Partners as their legal and tax advisers in the transaction. The legal and financial advisers of Pool Service Group are Lincoln International and Pedesoli Studio Legale, respectively.

Private Equity Fund BlueGem was established in 2007, headquartered in London, with two fund management assets totaling more than 550 million euros. BlueGem focuses on investing in medium-sized enterprises with a value of 50 million to 300 million euros in Western Europe, with an investment scale of 20 million to 75 million euros. It focuses on consumer-oriented brand business and strategic distribution platforms (including wholesale and retail). In addition to the beauty business, it also includes world-renowned brands such as household perfume brands, Dr. Vranjes Firenze, baby products brand Mamas & Papas, and British clothing brand Jack Wills (just sold), BlueGem. Earlier this year, BlueGem successfully withdrew from the investment of DMC, a European knitting group, and recently sold a 40% stake in Liberty London, a British Department store.