BIC Acquires Tangle Teezer for €200 Million
Deal News | Dec 16, 2024 | Bryan Cave Leighton Paisner LLP
BCLP has provided legal counsel to Société BIC S.A. on its €200 million acquisition of Tangle Teezer, a British company famed for its detangling hair tools. Founded in 2007 by Shaun Pulfrey, Tangle Teezer has become a leading market participant in the UK and a rising competitor in the US markets. The acquisition, facilitated by Mayfair Equity Partners through a management buyout in 2021, signifies BIC's strategic intent to strengthen its position in the European and North American haircare sectors. BCLP's advisory team included experts across jurisdictions with key leaders from the UK, US, and France. Additionally, Rothschild & Co acted as financial advisors to BIC, while Mourant and Arthur Cox provided legal advice concerning Guernsey and Irish laws, respectively. Meanwhile, Goodwin Procter and Harris Williams advised Mayfair and the Tangle Teezer management team.
Sectors
- Consumer Goods
- Private Equity
- Legal Services
- Investment Banking
Geography
- United Kingdom – Tangle Teezer, the target company, is a UK-based company.
- France – Société BIC S.A., the acquiring company, is based in France.
- United States – Tangle Teezer's growing market presence in the US makes it a relevant geography.
- Guernsey – Legal issues related to the transaction included aspects of Guernsey law.
- Ireland – Legal advice concerning Irish law was a part of the transaction process.
Industry
- Consumer Goods – The acquisition involves Tangle Teezer, a company that produces consumer goods, specifically haircare tools.
- Private Equity – Mayfair Equity Partners' role in Tangle Teezer's previous acquisition through a management buyout highlights the involvement of private equity.
- Legal Services – BCLP and other legal firms provided legal advisory services crucial to the transaction.
- Investment Banking – Rothschild & Co's involvement as financial advisors indicates the participation of the investment banking sector.
Financials
- €200 Million – The acquisition price paid by BIC for Tangle Teezer.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Société BIC S.A. | Acquirer | Company | French consumer goods company acquiring Tangle Teezer. |
| Tangle Teezer | Target | Company | UK-based company specializing in haircare tools. |
| Mayfair Equity Partners | Seller | Company | Private equity firm that acquired Tangle Teezer in 2021 through a management buyout. |
| Bryan Cave Leighton Paisner LLP | Legal Advisor | Company | Provided legal advice to Société BIC S.A. on the acquisition. |
| Rothschild & Co | Financial Advisor | Company | Served as financial advisors to BIC for the acquisition. |
| Goodwin Procter LLP | Legal Advisor | Company | Acted as legal advisors to Mayfair and the Tangle Teezer management team. |
| Harris Williams & Co. | Financial Advisor | Company | Served as financial advisors to Mayfair and the Tangle Teezer management team. |
| Mourant | Legal Advisor | Company | Advised on the Guernsey law aspects of the transaction. |
| Arthur Cox | Legal Advisor | Company | Advised on the Irish law aspects of the transaction. |