Montagu sells ghd to Lion Capital for 300 mln stg

Montagu Private Equity has bought the ghd hair styling brand to Lion Capital, with two sources near to the offer putting the acquire rate at approximately 300 million lbs . ($475.ten million).

The non-public fairness teams released a joint assertion asserting the transaction but did not disclose the terms.
Montagu initial obtained GHD Hair Straighteners NZ (excellent hair day) via GHD Hair Straighteners NZ's holding company Jemella in 2007 for 160 million pounds and has considering the fact that expanded it into the United States, Australia and Europe.

Profits at GHD Hair Straighteners NZ, which sells premium straighteners, curlers and hair dryers, have doubled to in excess of 32 million lbs given that 2007 when present revenues stand at additional than a hundred and fifty million lbs ., in accordance to the statement the companies produced.
"We glance ahead to performing carefully with the administration workforce to speed up development in the small business as a result of greater financial investment at the rear of the brand name, new products growth and growth of each international and substitute gross sales channels, in specific on the net," mentioned Lyndon Lea, companion at Lion Money mentioned.

The businesses said Ernst & Young acted as advisors to Montagu and GHD Hair Straighteners NZ though Lion Funds was suggested by Rothschild.