capital D Completes Invincible Brands/Henkel transaction
capital D, a next-generation private equity fund manager investing in disruptive mid-market businesses across Europe, has completed the partial exit from its investment in Invincible Brands.
capital D has sold a 75 per cent stake in Invincible Brands' cosmetics business, comprising the three attractive fast-growing premium D2C brands Hello Body, Banana Beauty and Mermaid+Me, to Henkel, one of the world’s leading FMCG companies.
During the two and a half years of capital D’s ownership, Invincible Brands’ EBITDA more than quadrupled and over the last twelve months, the businesses generated total sales of around EUR100 million (as of June 2020). The transaction allows capital D to realise some of its investment while continuing to support the long-term growth of Invincible Brands.
Stephan Lobmeyr, co-founder of capital D, says: “We believe there is significant value to be created for both Invincible Brands and Henkel. Invincible Brands is a pioneer in social media marketing and a first-class brand incubator and its exceptional growth over the last two years exemplifies the kind of support we’re able to provide our portfolio companies. We look forward to working together with the founders of Invincible Brands and Henkel to continue to drive the business forward and support their next phase of growth as we seek to capture the needs of ever-evolving consumer behaviours.”
capital D’s financial advisor on the transaction was Baylor Klein. The sell-side due diligence was conducted by BCG and Deloitte and capital D’s lawyers were Goodwin Procter.