Key Takeaways
- • Bain Capital Private Equity has signed a definitive agreement to acquire a majority stake in Maesa, a vertically integrated global beauty brand incubator and supplier, with the transaction expected to close in H1 2019.
- • Maesa generated over $230 million in global annual sales and operates more than 300 employees across seven offices; the company manages exclusive brands including Kristin Ess Hair Care (projected ~$100 million retail sales in 2019) and Drew Barrymore's Flower Beauty.
- • Co-founders Julien Saada and Gregory Mager will remain substantial shareholders alongside Bain Capital, while existing minority shareholder Andera Partners is exiting its investment through the transaction.
- • Maesa's service portfolio spans vertically integrated marketing, design, engineering, product development, and operations across haircare, color cosmetics, personal care, and fragrance categories for both branded products and major retailers including Target, H&M, and Urban Outfitters.
- • The investment aligns with Bain Capital Private Equity's established consumer and retail strategy, joining a portfolio that includes Bugaboo, Maisons du Monde, Sundial Brands, Virgin Voyages, and Canada Goose.
Summary
Bain Capital Private Equity has secured a definitive agreement to acquire a majority stake in Maesa, a New York and Paris-headquartered beauty brand incubator and full-service cosmetics and fragrance supplier. The transaction, expected to close in the first half of 2019, positions the global private investment firm as the controlling shareholder while preserving meaningful ownership stakes for Maesa's founding team and management.
Maesa represents a substantial platform within the beauty sector, operating $230 million in annual global sales and employing over 300 professionals across seven international offices. The company operates as a vertically integrated service provider, managing marketing, design, engineering, product development, and operations for a diversified client base spanning both exclusive beauty brands and major retail partners. Its branded portfolio includes Kristin Ess Hair Care, anticipated to generate approximately $100 million in retail sales during 2019, and Drew Barrymore's Flower Beauty line. Additionally, Maesa provides white-label and operational support to retailers including Target, H&M, and Urban Outfitters, as well as beauty brands such as Becca Cosmetics, across haircare, color cosmetics, personal care, and fragrance categories.
The transaction structure preserves continuity with Maesa's founding team. Co-founders Julien Saada and Gregory Mager will maintain substantial shareholdings and continue in operational roles, with the broader management team also retaining equity interests. Andera Partners, which held minority shareholder status, is divesting its position as part of the transaction. In a joint statement, Saada and Mager emphasized Bain Capital's alignment with Maesa's long-term growth strategy and cited the firm's global reach and expertise in consumer and retail sectors as critical to their expansion plans.
This acquisition reinforces Bain Capital Private Equity's strategic positioning within consumer and retail markets. The firm's existing portfolio includes prominent brands and platforms such as Bugaboo, Maisons du Monde, Sundial Brands, Virgin Voyages, and Canada Goose, reflecting established capability in scaling branded consumer businesses. Maesa's vertically integrated operating model and dual positioning as both a beauty brand incubator and third-party service provider for retailers and established brands provide Bain Capital with exposure to both premium branded growth and contracted manufacturing and operational services within the beauty industry.
Maesa represents a substantial platform within the beauty sector, operating $230 million in annual global sales and employing over 300 professionals across seven international offices. The company operates as a vertically integrated service provider, managing marketing, design, engineering, product development, and operations for a diversified client base spanning both exclusive beauty brands and major retail partners. Its branded portfolio includes Kristin Ess Hair Care, anticipated to generate approximately $100 million in retail sales during 2019, and Drew Barrymore's Flower Beauty line. Additionally, Maesa provides white-label and operational support to retailers including Target, H&M, and Urban Outfitters, as well as beauty brands such as Becca Cosmetics, across haircare, color cosmetics, personal care, and fragrance categories.
The transaction structure preserves continuity with Maesa's founding team. Co-founders Julien Saada and Gregory Mager will maintain substantial shareholdings and continue in operational roles, with the broader management team also retaining equity interests. Andera Partners, which held minority shareholder status, is divesting its position as part of the transaction. In a joint statement, Saada and Mager emphasized Bain Capital's alignment with Maesa's long-term growth strategy and cited the firm's global reach and expertise in consumer and retail sectors as critical to their expansion plans.
This acquisition reinforces Bain Capital Private Equity's strategic positioning within consumer and retail markets. The firm's existing portfolio includes prominent brands and platforms such as Bugaboo, Maisons du Monde, Sundial Brands, Virgin Voyages, and Canada Goose, reflecting established capability in scaling branded consumer businesses. Maesa's vertically integrated operating model and dual positioning as both a beauty brand incubator and third-party service provider for retailers and established brands provide Bain Capital with exposure to both premium branded growth and contracted manufacturing and operational services within the beauty industry.
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