More than £70m
Spayne Lindsay is delighted to announce that it has advised Mayfair Equity Partners (‘Mayfair’) on its investment in Tangle Teezer.
Founded in 2007 by Shaun Pulfrey, Tangle Teezer produces a range of innovative and tailored detangling, blow-drying and styling hairbrushes famous for their unique patented teeth technology. With record revenues of over £30m achieved in 2020 and presence in over 75 countries, the business has grown to become a world-renowned brand, recognised for creating the detangling haircare category, and is swiftly becoming an essential haircare companion to both consumers and haircare professionals. Tangle Teezer’s products are sold through well-established international online and multi-channel retailers with digital channels accounting for over 50% of sales today.
Mayfair is partnering with James Vowles, CEO, and his team to support further product innovation and international expansion. Shaun will remain a minority shareholder in the business.
Shaun Pulfrey, Tangle Teezer founder, commented:
“I am immensely proud to be joining forces with Mayfair in a strategic partnership. Their proven ability to back strong brands, with founder and management led business teams, made them my natural choice”
James Vowles, Tangle Teezer CEO, commented:
“Shaun has built an incredible brand. From the strong foundations in detangling, the brand has successfully expanded into styling, blow drying and now scalp care as well as Detangling Sprays. We’re all hugely excited to be working with Mayfair for the next stage of growth”
Bertie Aykroyd, Partner at Mayfair Equity Partners, commented:
“Tangle Teezer has achieved remarkable success by redefining a category which has historically been largely unbranded and highly fragmented. Using smart technology and innovative designs, the brand has developed a product portfolio that consumers adore. By doing so, Shaun and James have created the detangling category that has quickly become synonymous with the Tangle Teezer brand. The Spayne Lindsay team brought invaluable insights, delivered by a deep bench of consumer sector experts. We are very grateful for their diligence and assistance during this process. We are thrilled to have the opportunity to support James and the team to continue to grow this impressive British brand both with new product innovation and international expansion.”