Advent to buy hair care brand Olaplex

Private equity firm Advent International has agreed to acquire independent hair care brand Olaplex for an undisclosed sum.

Olaplex, which was founded in 2014, is a go-to brand for both stylists and consumers. The company sells its products through both the professional and retail channels.

The company’s products have an active, patented ingredient that works on a molecular level to seek out broken bonds in the hair that are caused by chemical, thermal, and mechanical damage.

Consumers can also use Olaplex for restoring compromised hair, or adding it to another service to offer the breakage insurance.

Advent International managing director Tricia Glynn said: “Olaplex has differentiated itself by offering superior products backed by patents. It is rare that we see brands of this size growing so rapidly and with such a passionate consumer base.

“We believe the company has significant runway for growth by increasing its brand awareness globally, broadening its product line of innovative ‘hero’ products, and further developing its ability to speak and sell to consumers directly.”

Goldman Sachs & Co served as exclusive financial advisor to Advent International on the transaction, while New York-based boutique investment bank Financo served as exclusive financial advisor to Olaplex.

Advent has invested in the retail, consumer and leisure industry sectors globally.

In the last 29 years, the company has invested over $11bn in more than 75 companies across subsectors such as beauty and personal care, differentiated brands, and several others.