Nexus Capital Management Buys Stake in MAV Beauty Brands for $121.7m

Mav Beauty Brands, a prominent Canadian beauty business, is set to be acquired by Nexus Capital Management, a private equity firm. The acquisition, approved by Ontario’s Superior Court of Justice, involves the transfer of all assets of Mav Beauty Brands to Nexus Capital Management.

Transaction Snapshot

  • Deal Value: $121.7m
  • Deal Type: Acquisition
  • Deal Date: Expected to complete by 22 December 2023
  • Investors: Nexus Capital Management
  • Founders: Marc Anthony Venere

Mav Beauty Brands, known for its diverse portfolio, including Marc Anthony True Professional, Renpure, Cake Beauty, and The Mane Choice, has seen significant developments in its business operations. The Toronto Stock Exchange (TSX) has halted trading of the company’s shares and announced plans to delist its common shares on 21 December 2023. This move follows Mav Beauty Brands' initial public offering in 2018, where it sold 9,000,000 common shares at US$14 each.

The sale price, reportedly lower than the company's outstanding debt of $121.7 million, marks a significant transition in its financial strategy. Kayla Dean Obia, VP at Nexus, highlighted the firm's intention to establish a new capital structure aimed at revitalizing growth and profitability for Mav Beauty Brands. Dean Obia expressed confidence in the long-term potential of the company's brands, product quality, and consumer loyalty.

The acquisition process, expected to be seamless, will not interrupt the company's operations. Nexus Capital Management, founded in 2013 and based in Los Angeles, California, will add Mav Beauty Brands to its existing beauty brand portfolio, which includes Sky Organics and Sugarbear.

This strategic acquisition represents a new chapter for Mav Beauty Brands, originally founded by hairstylist Marc Anthony Venere in 1995, as it integrates into Nexus Capital Management's expanding beauty brand portfolio.

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