CVC sells Colomer Group to Revlon

The GP hired Michael Dyens to run an auction process for the Barcelona-based firm in 2011. The deal is expected to close in the fourth quarter.

Revlon intends to finance the deal using funds underwritten by Citigroup Global Markets. The acquisition is designed to expand Revlon's global presence, push the brand into professional salons and provide cost synergy opportunities.

Previous funding
CVC acquired Colomer, then known as Revlon Professional Products, in February 2000 for $325m. Two Spanish families, Colomer and Gómez Aparicio, rolled over their stakes in the firm into the new group through a fresh capital injection. A senior debt package was provided by Société Générale, while Deutsche Bank and Alvano de Remedios acted as CVC's corporate finance advisers.

Company
The Colomer Group markets and sells professional products to salons and other professional channels. Brands include Revlon Professional for hair care, Creative Nail for nail polish and the Shellac franchise. Based in Barcelona and founded in 1933, the company also sells products including Natural Honey body lotions and Llongueras hair care directly into retail channels.

Around 50% of the firm's sales originated in Europe, the Middle East and Africa, with 40% generated in the US. The rest of the revenue comes from remaining territories in the firm's global reach. The Colomer Group employs more than 2,200 members of staff. 

People
The 2000 buyout was managed by Hardy McLain in CVC's London office and Javier de Jaime, Joaquín Pereira and Iñaki Cobo of the Madrid team.

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• Topics
• Southern Europe
• Consumer
• Exits
• Spain
• CVC Capital Partners
• Trade sale