Palamon Capital acquires online cosmetics venture feelunique.com

UK-based private equity firm Palamon Capital Partners has acquired a majority stake in London-based beauty e-commerce business firm feelunique.com, for £26m.

Founded in 2005, feelunique is an online retailer of haircare, skincare, cosmetics and fragrances products from its base in the Channel Islands.

The firm offers premium products from major brands including Dior, Lancôme, Clarins, Guerlain, Yves Saint Laurent, Benefit and Kerastase among others.

Palamon said it will acquire a majority shareholding from the founders and earlier-stage investors, besides providing further capital to support the company’s growth plan.

As part of the deal, another UK-based equity firm Sirius Equity is investing alongside Palamon.

Following Palamon’s investment, Sirius co-founder Robert Bensoussan will join the board of the company as chairman and Jim Sharp another co-founder will join the board as a non-executive director.

feelunique CEO Aaron Chatterley said the firm is happy to have gained the support of Palamon whose skill in the on-line retail space convinced it to become ideal partner.

"Given our ambitious growth plans and the size of the opportunity, it was important to partner with a firm that had both the financial resources and a clear vision of how the market will evolve. We now look forward to working closely with our new partners as we turn our vision of expansion into reality," added Chatterley.