Inflexion secures majority stake in Pangaea Laboratories

Inflexion is investing via Inflexion Buyout V. The fund held a final close in May 2018 on £1.25bn; it deploys equity tickets of £10-300m and focuses on investments in mid-market businesses in Europe. The investment in Pangaea will be the vehicle's 11th platform deal, according to Unquote Data.

The buyout is not backed by any debt, according to a source close to the situation.

The deal came about via a structured auction process. The transaction values the company in the £150-200m range, according to a report from The Times.

The company aims to grow its online sales channels and to expand to new international markets, according to a statement, although add-on acquisitions are not part of the strategy.

Company
Founded in 1999 and headquartered in Elstree, Hertfordshire, Pangaea Laboratories is a beauty and cosmetics company. The firm's principal brand is premium skincare line Medik8, which focuses on anti-ageing products. Medik8 generated revenues of £18.9m in 2020, marking an increase of one third on its 2019 turnover. Pangaea Laboratories employs more than 50 staff, according to LinkedIn.

People
Inflexion – Simon Turner (managing partner); Tom Pemberton (partner); Fabrizia Rizzi (assistant director); Melanie Campbell (investment executive).
Pangaea Laboratories – Elliot Isaacs (founder).

Advisers
Equity – Financo (corporate finance); Eversheds Sutherland (legal).
Vendor – Alantra, Matthew Wiseman, Chris Bates, Oliver Hickley, Saro Djerrahian (corporate finance); PwC (tax); DLA Piper (legal).

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• Topics
• Buyouts
• UK / Ireland
• Consumer
• United Kingdom
• Inflexion Private Equity
• DLA Piper
• PwC
• Alantra
• Eversheds