• Tangle Teezer acquired by BIC to help gain exposure to a fast-growing and scaled brand
  • Sale is the culmination of a successful internationalisation and product innovation strategy

LONDON, United Kingdom – December 11, 2024 – Mayfair Equity Partners (“Mayfair”), a dedicated digital investor with over £2 billion in assets under management, is pleased to announce that it has fully exited Tangle Teezer (or the “Company”), the category-defining British haircare brand, to BIC, a global leader in stationery, lighters, and shavers. BIC has acquired 100% of Tangle Teezer for a total consideration of £165 million.

Founded in 2007, Tangle Teezer pioneered the detangling category, developing innovative hairbrushes with patented teeth technology that are designed to detangle hair while limiting damage. Adored by consumers, professionals, and celebrities alike, Tangle Teezer has become an iconic British brand with brushes sold throughout the world.
Mayfair invested in Tangle Teezer in July 2021 through a management buyout. Since Mayfair’s investment, Tangle Teezer has delivered strong organic growth, driven by the acceleration of its ambitious international expansion strategy which saw the Company build significant market share in the United States. The US is now Tangle Teezer’s largest and fastest-growing market.

Mayfair and Tangle Teezer have worked in close partnership over the past three years. Mayfair’s team of business process improvement Specialists collaborated with the Tangle Teezer team across various areas including international expansion and operational effectiveness, with the latter resulting in implementation of a global manufacturing strategy that strengthened the Company’s business model. With Mayfair’s support, Tangle Teezer evolved its product innovation strategy resulting in forming a global innovation advisory board comprising of a diverse set of experts aimed at encouraging innovation for an increasingly diverse customer base. Mayfair also provided support in relation to developing a comprehensive ESG strategy aimed at reducing emissions through manufacturing and supply chain optimisation, but also through development of eco-friendly products such as the Company’s award-winning Plant Brush, made from 85% sustainably sourced materials.

With more than £60 million in annual net sales and strong margins, Tangle Teezer has grown in size, approximately doubling its EBITDA over the last three years, demonstrating its ability to establish leadership and build market share successfully in a highly fragmented hairbrush and comb market estimated to be worth more than €4.5 billion.
Harris Williams, a global investment bank specialising in M&A advisory services, acted as exclusive financial advisor to Tangle Teezer and the Company’s shareholders. Goodwin Proctor provided legal advice to the Company and its shareholders.

Bertie Aykroyd, Partner at Mayfair Equity Partners said: “We’re proud to have partnered with Tangle Teezer, supporting their impressive growth and innovation over the past three years. This is a prime example of British innovation and entrepreneurship, taking a product and category that was invented by a visionary founder, Shaun Pulfrey, and scaled by an ambitious management team, under the leadership of James Vowles. The team has developed a remarkable range of products and established an iconic British brand that’s popular worldwide. This is a fantastic accomplishment, and we’ll be excited to see Tangle Teezer build on this momentum from here on in.”

Gonzalve Bich, CEO of BIC, said: “Today marks a new chapter for BIC. We’re excited to acquire a market-leading business in a dynamic, high-growth market where we can drive
significant value. Both companies share a deep spirit of joy, innovation, entrepreneurship, and a common vision for growth. With a consumer-first approach, together we aim to redefine personal grooming by creating personalized haircare solutions that enhance daily routines. Our strategy is to build long-term trust by offering not just products, but simple solutions that improve self-care experiences. We proudly welcome Tangle Teezer to BIC.”

James Vowles, CEO of Tangle Teezer, said: “Tangle Teezer’s success stems from our commitment to product innovation, strategic brand development, operational excellence, and a relentless focus on sustainability. At the heart of it all is our brilliant team.
“Mayfair has been an exceptional partner on our journey having helped us to unlock international markets and improved the operational effectiveness of the business, resulting in Tangle Teezer becoming a strategic, must-own global brand. This is an exciting chapter for Tangle Teezer as we join BIC’s global portfolio of brands, continuing to drive innovation and growth for our consumers, customers, and partners.”

About Tangle Teezer

Launched in 2007 as the world’s first retail-anchored and professional detangling tool, Tangle Teezer is a British company that designs an award-winning range and unique patented range of brushes that allow customers to better manage long-term hair health with less damage and breakage. The first and signature product, a detangling hairbrush dubbed “The Original” eventually achieved cult popularity and received the Queen’s Award for Innovation in 2012, and International Trade in 2014, as well as reaching the Sunday Times Fast Track 100 in 2013 and 2016. Today, Tangle Teezer is sold in 70 International Markets.

About BIC

A global leader in stationery, lighters, and shavers, BIC brings simplicity and joy to everyday life. For 80 years, BIC’s commitment to delivering high-quality, affordable, and trusted products has established BIC as a symbol of reliability and innovation. With a presence in over 160 countries, and over 14,000 team members worldwide, BIC’s portfolio includes iconic brands and products such as BIC® 4-Color™, BodyMark®, Cello®, Cristal®, Inkbox®, BIC Kids®, Lucky™,

Rocketbook®, Tattly®, Tipp-Ex®, Wite-Out®, Djeep®, EZ Load™, EZ Reach®, BIC® Flex™, Soleil® and more. Listed on Euronext Paris and included in the SBF120 and CAC Mid 60 indexes,

BIC is also recognized for its steadfast commitment to sustainability and education. For more, visit www.corporate.bic.com and to see BIC’s full range of products visit www.bic.com. Follow BIC on LinkedIn, Instagram, YouTube and TikTok.

About Mayfair Equity Partners

Mayfair Equity Partners is a dedicated technology and consumer investor, with assets under management of over £2 billion. Mayfair’s investment philosophy centres on backing people and their ideas, working with founders and management teams to help them realise their ambitions. Mayfair’s model of Active Partnership includes a senior team of dedicated functional Specialists who support portfolio companies with business process improvement initiatives that help unlock their full potential.

Mayfair has an established track record of supporting fast-growing, sector-defining companies, including Ovo, a digital challenger which has scaled to become the third largest provider in the UK retail energy sector; LoopMe, a leading brand-focused mobile advertising platform; and Talon Outdoor, the market leading OOH Specialist Agency.

For more information, please visit www.mayfairequity.com.