Montagu sells ghd to Lion Capital for 300 mln stg

Montagu Non-public Fairness has offered the ghd hair styling model to Lion Funds, with two resources close to the deal putting the buy value at virtually 300 million lbs . ($475.10 million).

The non-public fairness teams released a joint statement saying the transaction but did not disclose the conditions.
Montagu initial acquired GHD NZ (superior hair day) as a result of GHD NZ's keeping firm Jemella in 2007 for 160 million pounds and has considering that expanded it into the United States, Australia and Europe.

Profits at GHD NZ, which sells premium straighteners, curlers and hair dryers, have doubled to around 32 million pounds because 2007 when current revenues stand at additional than 150 million lbs ., in accordance to the assertion the businesses produced.
"We glimpse ahead to doing work closely with the management workforce to speed up expansion in the small business as a result of elevated investment guiding the manufacturer, new product development and expansion of both equally intercontinental and alternative sales channels, in certain on line," mentioned Lyndon Lea, partner at Lion Capital reported.

The businesses stated Ernst & Younger acted as advisors to Montagu and GHD NZ while Lion Money was encouraged by Rothschild.