London-based private equity manager Capital D has sold a 75% stake in Invincible Brands, a Berlin-based provider of social media campaign services for beauty products, to Henkel.
Henkel acquired interest in businesses comprising three beauty and care products brands - Hello Body, Banana Beauty and Mermaid+Me. Capital D and founders Bjoern Keune and Gennadi Tschernow will retain the remaining 25% stake in the business.
Capital D acquired Invincible Brands for an undisclosed sum in January 2018.
Founded in November 2015, Invincible Brands is a social commerce platform that creates campaigns for beauty, health, fitness and nutrition products. It is headquartered in Berlin and sells its products from Germany into continental European markets. In the 12 months to June 2020, the businesses generated total sales of around €100m and employed around 180 people.
Capital D – Stephan Lobmeyr (co-founder).
Henkel – Carsten Knobel (CEO).
Invincible Brands – Bjoern Keune (co-founder).
Vendor – Baylor Klein (corporate finance); Goodwin Procter (legal); BCG (commercial due diligence); Deloitte (commercial due diligence).
Consortium has offered €18.10 per share, 24% higher than the €14.56 closing price on 23 September
Around €2m comes from Seed Capital, while Vækstfonden is providing a syndicated loan of €1.8m
Company plans to use the financing to strengthen its market position in Spain and boost its international expansion
GP has so far invested in companies in industrial automation, software and business training