Palamon and Sirius buy feelunique.com
Palamon Capital Partners and Sirius Equity have acquired a majority stake in Channel Islands-based online beauty retailer feelunique.com, in a deal that values the business at £26m.
Palamon led the transaction, which saw the firms purchase a majority shareholding from the founders and earlier-stage investors while providing further capital to support the company's growth plans.
Company
Founded in 2005, feelunique.com is an online beauty products retailer that employs more than 125 staff at its headquarters and logistics centre in the Channel Islands. The company sells stock from brands including Dior, Lancôme, Clarins, Guerlain and Yves Saint Laurent. The website's sales have grown by 40% per year and now exceed £30m.
People
Sirius co-founders Robert Bensoussan and Jim Sharp will join the company's board as chairman and non-executive director respectively. Dan Mytnik is a partner at Palamon.
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