PAI Partners acquires haircare platform Beautynova

Beautynova, the professional haircare platform, has been acquired by private equity firm PAI Partners from Bluegem Capital Partners for an undisclosed amount.

In a statement, PAI Partners said the acquisition would be through its fund dedicated to mid-market opportunities and that upon competition, PAI would be the majority shareholder owning a controlling stake, with Bluegem maintaining “a significant shareholding” alongside a syndicate of Bluegem co-investors.

Headquartered in Italy, Beautynova owns premium brands, including Milk_Shake, Z.one concept and Medavita. It is also a leading developer of professional haircare products across hair treatment, colouring and styling, with over 18,000 formulas.

The company exports to more than 70 countries, generating 70 percent of revenues outside Italy, mainly in the US and Europe, through professional and consumer channels.

Beautynova to accelerate growth in the US and Europe following PAI acquisition

Since 2020, under Bluegem’s ownership, Beautynova has more than tripled its sales and experienced substantial geographical expansion, with a particular focus on the US, which today generates 18 percent of the company’s sales.

PAI said the plan is to accelerate that growth across all its major markets, including the US and Europe. Stefano Banfo, chief executive at Beautynova, said: “Over the last four years, the company has strengthened the senior management team and invested in state-of-the-art production facilities, world-class ERP systems and innovative product development, ensuring we have the resources and expertise to push boundaries and set new industry standards. We look forward to working with PAI and Bluegem as we continue on this exciting journey of innovation and growth.”

Raffaele Vitale, a founding partner of PAI MMF, added: “Beautynova is an excellent business with a well-diversified offering and strong footprint in the attractive and resilient global professional haircare market.

“We look forward to working with Stefano and team, alongside Bluegem, on the next chapter of growth, continuing PAI MMF’s approach of partnering with strong brand platforms and building international leaders in the mid-market.”