Tangle Teezer owner hires bankers to explore strategic options
The owner of Tangle Teezer has recruited investment bankers to explore strategic options for the business that could include an eventual sale.
Mayfair Equity Partners, which also owns maternity and nursing brand Seraphine, has hired Harris Williams to oversee a strategic review.
Sources close to the situation told Sky News that a number of options were under review, and there was no formal timetable for any sale process.
Launched in 2007 by Shaun Pulfrey, Tangle Teezer is known for its range of detangling, blow-drying and styling hairbrushes famous for their unique teeth technology and innovative design.
Despite being rejected on the television programme Dragons' Den 17 years ago, the brand has since experienced rapid global growth and is popular amongst haircare professionals and consumers.
It has established wide-ranging distributor and retailer relationships in over 75 countries across the world, with more than 80% of its sales generated outside of the UK.
Mayfair Equity Partners invested in the British business in July 2021 to accelerate product innovation and international expansion, particularly in the US and China.
Last year, Tangle Teezer formed an Innovation Advisory Board of global business leaders to further drive growth.
The advisory board provides the company with "unique perspectives and insights" to support the progression of the brand and foster closer collaboration with key business stakeholders.