Alantra advises beauty business Pangaea on Inflexion investment
UK private equity firm Inflexion has completed a buyout of global beauty business Pangaea Laboratories, in a deal which reportedly values the business at more than £150 million. Professional services firm Alantra advised the shareholders of Pangaea on the investment.
Founded in 1999 by Elliot Isaacs, Pangaea Laboratories is a fast expanding beauty company with a start-up culture based on a disruptive model. The organisation which owns Medik8, a premium skincare brand focused on science-based, skin-ageing products. Medik8’s expertise has enabled them to develop a range of high performance skincare products focused on Vitamin C, Sunscreen and Vitamin A, their “CSA” philosophy.
Pangaea leveraged this high-performance model to post a turnover of £20 million last year according to sources, sealing a strong performance in spite of the wider impact of the Covid-19 crisis. As a result of this performance, Pangaea has attracted investment from UK private equity firm Inflexion, which has completed a buyout of the global beauty business.
As reported by online news platform AltAssets, the deal is understood to values the business at between £150 million and £200 million. Inflexion made the deal using its £1.25 billion Buyout Fund V, which it closed in May 2018 alongside its £1 billion Partnership Capital Fund II.
Commenting on the news, Elliot Isaacs said, “In the last three years, the brand has experienced phenomenal growth as the skincare consumer has become more knowledgeable and moved towards science and ingredients. We are thrilled to be partnering with Inflexion who have the passion and expertise to help us accelerate the brand’s international ambitions.”
Simon Turner, managing partner of Inflexion, added, “Medik8’s science-based approach to skincare combined with its sustainability credentials make it an incredibly impressive business. We look forward to working closely with the whole team to scale the business further through enhancing their digital routes to market, and by supporting their continued innovation, new product launches and international expansion.”
Shareholders of Pangaea were advised on the investment by professionals from Alantra. The independent global mid-market investment advisory firm allocated a team consisting of Chris Bates, Oliver Hickley, Saro Djerrahian and Matthew Wiseman to undertake this task.
Wiseman, who is a Partner at Alantra, remarked, “We’re thrilled to have delivered an exceptional result for such a first-class team and brand. Inflexion will be a great partner for Medik8, and their investment will allow their management to continue to invest in innovation, capitalise on the growth potential in both the ecommerce and professional channels, and continue its global growth.”
