Consumer-focused private equity firm L Catterton has made an investment in Brazil’s Grupo Espaçolaser, a laser hair removal company, for an undisclosed amount.
(PE Hub) SÃO PAULO and GREENWICH, Conn., Jan. 23, 2017 /PRNewswire/ — Grupo Espaçolaser (“Espaçolaser”), Brazil’s leader in laser hair removal, today announced a significant growth capital investment by L Catterton, the largest consumer-focused private equity firm in the world. The investment will be used to support and accelerate Espaçolaser’s continued growth in Brazil. Terms of the transaction were not disclosed.
Founded in 2002 by Dr. Ygor Moura in partnership with Tito Veiga Pinto and Paulo Iasz de Morais, Espaçolaser strives to improve the quality of life of women and men that value health, beauty and wellness with the Alexandrite laser, the most sophisticated and effective hair removal technology available. Espaçolaser is the largest laser hair removal company in Brazil, and currently has 130 company-owned and franchised locations across the country. In 2015, the Company partnered with Xuxa Meneghel and José Carlos Semenzato to further develop and grow its network of franchises. Espaçolaser will continue to be led by Dr. Moura and Mr. Iasz de Morais, with Dr. Moura serving as CEO.
“With the partnership of L Catterton, we are well-positioned to drive significant growth and enhance Espaçolaser’s industry leadership,” said Dr. Moura. “L Catterton brings the expertise of a global consumer investor, combined with vast experience elevating strong brands with enormous appeal. Moreover, L Catterton has a deep understanding of our industry through its investment in Ideal Image, the largest laser hair removal company in North America. We are confident that together, we will unlock Espaçolaser’s untapped potential to bring our unique value proposition to more men and women across Brazil.”
Mr. lasz de Morais added, “L Catterton’s unparalleled experience building leading consumer brands around the world and deep understanding of the consumer market makes them the ideal partner for Espaçolaser. L Catterton supports our commitment to being the largest – and best – laser hair removal company in Brazil, and we know their financial and operational capabilities will be indispensable during our next phase of growth. With L Catterton, we look forward to expanding our footprint and diversifying our business as we continue our path of innovation in the Brazilian market.”
“Espaçolaser has experienced rapid growth and today is the clear market leader in Brazil,” said Julio Babecki, Partner, L Catterton Latin America.
“With a loyal and growing customer base, high brand awareness, strong fundamentals and ample runway to expand in Brazil and beyond, Espaçolaser’s value proposition is unmatched. Ygor, Paulo and the entire management team have done an incredible job establishing a strong foothold in the market, and we look forward to working with them to build on their winning position.”
“We see a great opportunity in Espaçolaser, which holds a strong position in a large, growing and highly underpenetrated market,” said Farah Khan, Partner, L Catterton Latin America. “With locations in almost every state, Espaçolaser has become the premier laser hair removal company in Brazil. Differentiated by its unique technology, effective service offerings and broad presence, we are confident Espaçolaser will be another great success story in the attractive beauty and aesthetics category.”
Espaçolaser is the third investment by the L Catterton Latin America fund (“LCLA II”). The fund has offices in Brazil, Colombia, Mexico and New York and has made previous investments in Bodytech, a leading health and fitness player in Latin America, and Grupo St. Marche, one of the most innovative food retailers in Brazil.