- Quinn supports LDC on ghd buyout
Quinn supports LDC on ghd buyout
THE Quinn Partnership, management due diligence specialist, has been involved in another of Lloyds Development Capital’s (LDC) high profile management buy-outs.
ghd, the company behind the highly coveted hair styling-irons, has been bought out by its management team.
The management team, which has acquired the company, was led by Martin Penny, chief executive and founder of Silsden-based Jemella Group. The deal was backed by private equity firm LDC.
The deal will see ghd continue to lead the styling-iron boom and develop the brand in other emerging markets, launching it in Germany and France later this year. Sales of the styling irons have risen from £10 million in 2002 to a forecast £70 million in 2006.
Mike Stiles, who led the team from The Quinn Partnership, said: “We have been delighted to work with LDC on their investment in such a high profile consumer brand. Martin Penny and his team have the energy and dynamism to meet the challenges that lie ahead in this exciting new era of growth and development.”