LDC makes 2.3x on Original Additions sale

The deal produced exit proceeds of £37m for the GP. PDC operates in the US, in the beauty and personal care markets, and is backed by Boston-based private equity firm Yellow Wood Partners.

Previous investment
LDC acquired Original Additions in July 2011 from previous backers Mobeus Equity Partners (known then as Matrix Private Equity) and Barclays Ventures. At the time of the deal, the company was generating revenues of £30m.

Barclays Ventures and Matrix initially acquired the company in 2004, backing its management buyout in a deal worth around £10m.

Company
Original Additions produces branded beauty goods including fake eyelashes, fake nails and cosmetics. Brands include Eylure, Elegant Touch and Salon System.

The Hayes-based company was founded in 1978. For the year ending in March 2016, Original Additions generated revenues of £42m.

People
Original Additions – Simon Zussman (managing director).
LDC – Andy Grove (director).

Advisers
Vendor – Deloitte (financial due diligence); Eversheds (legal).
Equity – Lincoln International (corporate finance); Fried Frank (legal).

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• Topics
• Exits
• UK / Ireland
• Consumer
• LDC
• United Kingdom
• Deloitte
• Eversheds
• Trade sale