Matrix has sold their investment in Original Additions
Barclays Ventures and Matrix Private Equity Partners (Matrix) have sold their investment in Original Additions, the leading beauty accessories business.
Original Additions, which sells eyelash collections designed by Girls Aloud, alongside ranges inspired by Sex and the City and Paris Hilton, has a presence in over 30 international markets. Its principal brands, Elegant Touch and Eylure, are amongst the leading nail care and eyelash brands in Europe.
Original Additions has been sold in a secondary MBO financed by LDC. Barclays Ventures and Matrix originally supported the MBO of Original Additions in 2004, when management acquired the business from private ownership.
Original Additions is based in Hayes, Middlesex, employs 70 staff and has an annual turnover of over £30 million.
Jeremy Morgan, Joint Head of Barclays Ventures comments: “Original Additions has been a high quality investment. It has traded exceptionally well through the downturn and is continuing its impressive growth story via entry into both the US and Chinese markets where significant opportunities exist. We wish the team and business well in their next phase of development”.
Mike Walker, a partner at Matrix comments: “Original Additions has been an excellent growth story, more than doubling sales over the past six years and emerging as the clear market leader in the UK nail and eyelash retail category. We wish Simon Zussman and his team every success in the next stage in the company’s development”.
Simon Zussman, Managing Director of Original Additions, comments: “Barclays Ventures and Matrix have been highly supportive financial investors over the past six years. We now look forward to further growingour international presence”.
Quayle Munro acted as Financial Adviser and Taylor Wessing acted as legal advisers to Original Additions.
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