Sherpa's Hedonai buys clinic operator Ivalia

Sherpa acquired Hedonai out of insolvency for €19.3m in October 2017. Following the deal, Sherpa founding partner Alfredo Bru Tabernero was appointed chair of the company's board.

Sherpa is invested in Hedonai via its second buyout fund, Sherpa Capital II, which held a final close in 2014 on €100m. More recently, the firm closed its third fund on €150m in May 2018, exceeding its €125m target after a few weeks of fundraising.

Under Sherpa's ownership, Hedonai has grown organically, opened several new clinics and increased its revenues. The company currently manages 39 beauty care clinics and aesthetic centres located across Spain and employs 320 staff. It expects to reach a turnover of €16m in 2019 and to double its network of clinics by 2021 with 40 new openings and additional acquisitions.

Company
Founded in 2003 and headquartered in Las Palmas, Ivalia operates three aesthetic centres specialising in laser hair removal, cosmetic medicine and facial aesthetics. The company employs 40 staff and generated revenues of €2.5m in 2018.

People
Ivalia Estética Médica – Natalia Falcón, Miguel Angel Viera (co-directors).
Sherpa Capital – Alfredo Bru Tabernero (founding partner).

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• Topics
• Portfolio management
• Southern Europe
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• Spain
• Build-up