HgCapital has sold The Sanctuary Spa Group, a female body care brand in the
HgCapital, the European sector-focused private equity investor, announces the sale of The Sanctuary Spa Group to PZ Cussons, the consumer products group, for Gbp75 million. This is the seventh transaction by HgCapital since August 2007.
The Sanctuary Spa is the leading female body care brand in the
Richard Mathews, Head of Consumer and Leisure at HgCapital, commented:
“This is another example of HgCapital investing in a strong brand and a great management team. Alice and her team have done a fantastic job of building this much-loved brand into a household name, growing the business through the introduction of new product categories and successfully expanding internationally. The Sanctuary Spa has excellent prospects for further growth and we wish everyone at the company well for the future.
The successful sale of The Sanctuary Spa demonstrates the effectiveness of HgCapital's strategy of deep sector focus and active partnership with our portfolio businesses. This, together with our high levels of resourcing, can deliver strong returns throughout the whole economic cycle.”
Since April 2007, HgCapital has made five acquisitions, as well as eight sales of portfolio companies to private equity and trade buyers yielding 3.0x original cost and an IRR of approximately 50%.
Alice Avis, Chief Executive of The Sanctuary Spa commented:
“We are delighted with how the business has developed and grown in recent years. The iconic spa in Covent Garden underpins our brand authority and has enabled us to develop the products business into one of the
Close Brothers Corporate Finance Limited is acting as the sole financial advisor to HgCapital in relation to the transaction.