LDC backs Original Additions deal
The Birmingham office of equity provider LDC has led the secondary management buyout of beauty accessories supplier Original Additions. The £30m turnover business said it now plans to expand globally.
Original Additions produces eyelashes, nails and professional beauty products under brands including Eylure, Elegant Touch and SalonSystem.
The company, based in Middlesex, has recently launched ranges in the US and China and said it now plans to "expand rapidly" through several other health and beauty chains in both countries.
LDC backed Original Additions’ existing management team, which is led by Simon and Matthew Zussman.
Michael Thompson, former president of Proctor & Gamble’s Global Prestige fragrance business has joined as chairman and Tracy Lewis, chief executive of lingerie and bra swimwear designer Eveden Group, has joined the board as a non-executive director.
The deal was led by LDC investment directors Paul Figgins and Andy Grove, who will also join the board with immediate effect.
Figgins said: "Going forward, we will fully support Original Addition’s strategy to drive further growth within the UK and across the group’s existing international distributor network, as well as helping to increase sales and market share in the USA."
Eversheds acted as legal adviser to LDC.
Quayle Munro acted as financial adviser and Taylor Wessing acted as legal advisers to Original Additions.
