Original Additions, a UK-based beauty accessories supplier business, has received an investment of undisclosed amount from LDC as a part of the company’s secondary management buy-out.
In the transaction, whose amount remained undisclosed, LDC has backed Original Additions’ existing management team, which is led by Simon and Matthew Zussman.
Original Additions has recently launched ranges in the US and China with plans to expand rapidly through several other health and beauty chains in both countries.
The existing management team will be further supported by two senior board appointments to help drive the businesses international growth strategy.
Michael Thompson, who was previously President of Procter & Gamble’s Global Prestige fragrance business which includes Hugo Boss, Giorgio Beverley Hills, Max Factor and Oil of Olay, has joined as Chairman. Tracy Lewis, CEO of lingerie and bra swimwear designer Eveden Group, has also joined Original Additions’ board as a Non-Executive Director.
In conjunction with the financing, LDC Investment Director Andy Grove will join the board with immediate effect.
Led by Managing Director Simon Zussman, Original Additions sells branded eyelashes, nails and professional beauty products. Brands include Eylure, Elegant Touch and Salon System. The company has a turnover of over £30m.
FinSMEs
20/07/2011