Tue, 12 Feb 2013 | BUSINESS SALE
Hair straightener firm GHD has passed to private equity firm Lion Capital in a business sale thought to be worth around £300 million.
Lion Capital bought the brand from Montagu Private Equity over the weekend after the buyer was attracted by the potential for further international expansion.
Lyndon Lea, partner of Lion, said that the group is looking forward to working with the team in order to “accelerate growth in the business through increased investment behind the brand, new product development and expansion of both international and alternative sales channels, in particular online”.
She added: “Since its very early days, GHD has proved itself to be an iconic brand that engenders a deep emotional attachment and loyalty amongst its customers, both professional stylists and consumers, on levels rarely achieved by even the strongest consumer brands.”
Montagu first bought GHD back in 2007 for £160 million and has more than doubled the firm's profits since then to around £32 million through sales of over 2 million units.
Advertising partnerships with celebrities such as Katy Perry have helped the firm to expand its geographical reach well beyond the confines of its home town in Yorkshire to include Europe, the US and Australasia.
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