Axcel acquires Isadora

Axcel said it was attracted to the cosmetics market in the Nordics, which it estimates is growing at an annual rate of 5%. With the additional capital, Isadora intends to expand its geographic reach with plans to enter the US market.

The deal marks the end of lengthy sale discussions, after Isadora was first put up for sale in December 2016.

According to Unquote sister publication Mergermarket, the company posted sales of SEK 440m and EBITDA of SEK 161m for 2016. At the time, Isadora forecasted a SEK 503m turnover and EBITDA of SEK 200m for 2017.

Axcel is currently investing from its Axcel V buyout fund, which held a first close on €352m in April 2017, according to Unquote Data.

Company
Established in 1983, Isadora is a cosmetics brand with production and headquarters in Malmö, Sweden, and additional production facilities in Berne, Switzerland. Its eye, face, lips and nail products are sold by around 5,000 stores in 40 countries.

The company's main markets are Sweden, the other Nordic countries, Germany and the Middle East. It distributes products directly to department stores, perfumeries, fashion outlets and online retailers. The firm employs a staff of 200.

People
Axcel – Vilhelm Sundström (partner).
Isadora –  Ingvar Vigstrand (CEO).

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• Buyouts
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• Denmark
• Axcel