Inflexion sells Vivona to Webster Equity Partners

Financial details of the transaction remain undisclosed, though Webster is currently investing from its $875m fourth fund, which invests in consumer and healthcare companies with enterprise values of $25-150m.

The deal brings to an end a seven-year holding period for Inflexion. Under the vendor's tenure, Vivona pursued expansion in the US market, diversified its range of products and introduced a new management team. It also acquired Natural Products and its US subsidiary NPW-USA in 2014.

According to publicly available documents, Vivona made an operating profit of £2m from a turnover of £35.4m in the year ending in February 2018. At the time of its first financial results filed in the UK for the year ending in February 2015, the group reported an operating profit of £1.2m from a turnover of £15.3m.

Vivona secured a £12.5m asset-based refinancing package provided by Leumi ABL in 2018.

Previous funding
Inflexion acquired Vivona (then headquartered in Steamboat Springs, Colorado) in 2012.

Company
Founded in 1992, London-headquartered Vivona is a group of companies that provide cosmetic, skincare, stationery and novelty gift products. Its portfolio of brands consists of Oh K!, Sugu, JiinJu, Koburi, Sunday Rain, We Live Like This, Luna & Rae, NPW Gifts, Drinking Buddies and Simply Moleskine. The group has distribution partnerships across the US and EMEA with Ulta Beauty, CVS, Walgreens, Target, Sephora, Superdrug and Boots.

People
Inflexion Private Equity – Simon Turner (managing partner).
Vivona Brands – Simon Russell (executive chairperson).

Advisers
Vendor – Alantra (corporate finance).

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• Topics
• Exits
• Buyouts
• UK / Ireland
• Consumer
• United Kingdom
• Inflexion Private Equity
• Secondary buyout