Piper invests in Neom Organics

The funding will enable the company to expand its product range, make a number of hires to its senior management team, open new brick-and-mortar stores and undertake international expansion.

The deal is the third investment made by Piper's sixth fund, which recently closed on its £125m target, according to a statement. Piper Private Equity VI's maiden investment was the acquisition of a £10m minority stake in steakhouse chain Flat Iron in March 2017. The vehicle then invested £6m in fitness club chain Frame in October.

Company
Founded in 2005 and headquartered in Harrogate, Neom produces skincare products and home fragrances, such as scented candles, bath oils and room sprays. Its products are developed to provide therapeutic benefits such as relieving stress, aiding sleep, boosting energy and improving mood.

The business has a headcount of 50 and generated a turnover of £18m in its most recent financial year, according to a statement. Its products are distributed via third-party retailers including John Lewis, Selfridges, Isetan and Fenwick, as well three own-brand UK stores.

People
Piper Private Equity – Libby Gibson (partner); Dan Stern (investment director).
Neom Organics – Oliver Mennell, Nicola Elliott (founders).

Advisers
Equity – Womble Bond Dickinson, Sammy Hill, Philip Withey, Simon Hewes (legal); Sentio, Tom Hayes (financial due diligence); Catalyst Corporate Finance, Matthew Wiseman (corporate finance).
Company – Freeths, Dahren Naidoo (legal); TLP, Paul Land (tax).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• Piper Private Equity