Premium beauty e-tailer feelunique.com has been acquired by private quality company Palamon Capital Partners who have partnered with Sirius Equity for the acquisition. The transaction was agreed at a headline enterprise value of £26 million.
The website was founded by Aaron Chatterley and Richard Schiessl in 2005 and has established itself as a top online choice for premium beauty products. Earlier this year the company opened an office in central London and expanded the team to take on beauty journalist Newby Hands who joined feelunique.com as Editorial Director.
Palamon’s investment, along with that of Sirius, will provide capital to support a growth plan for the retailer. Chatterley and Schiessl will remain at the helm and initial investors The Huggler Group and MyMemory will continue to maintain a shareholding. Following the investment, Sirius co-founder Robert Bensoussan will join the board of the company as chairman.
Aaron Chatterley comments on the deal: “It’s an exciting time for us, feelunique.com’s increase in growth, a new editorial tem and established shareholder groups and key retail partners combined with Palamon’s and Sirius’ excellence in financial resource and strategic approach makes them ideal partners and together we have great ambitions for the future. We look forward to working together to help realise the brands growth potential.”
Dan Mytnik, partner at Palamon adds: “We are delighted to be investing in feelunique.com, a high growth business that is ideally placed to benefit from the fast expanding online retail beauty sector with its established platform, a strong business model and entrepreneurial management team.”