London-based private equity firm BlueGem Capital Partners LLP acquired Italian hair care group Pool Service Srl from Accord Management and the Cattaneo family.
Based near Milan, Pool Service develops and manufactures professional hair care products under its own and third-party brands, including the Medavita label. It recorded approximately €40 million in sales in 2018.
Following the acquisition, Pool Service CEO Stefano Banfo will reinvest in the business and remain in his role.
Deloitte Financial Advisory advised BlueGem as buy-side financial adviser, while Latham & Watkins and Studio Gattai Minoli Agostinelli Partners were BlueGem's legal and tax advisers, respectively. PwC was debt adviser, New Deal Advisors conducted financial due diligence and Willis Towers Watson completed the insurance due diligence.
Lincoln International was the sell-side financial adviser, while Pedersoli Studio Legale conducted vendor legal and tax due diligence and was legal adviser for the shareholders. Goetzpartners and Deloitte carried out vendor commercial and financial due diligence, respectively.