Our corporate finance team has advised Ken and Maggie Lamacraft on the sale of international skincare and beauty product distributor Ken Lamacraft Marketing LTD (KLM) to the Management team of Fiona Peerless and Kevin Gambrill for an undisclosed sum.
KLM is responsible for distributing the popular skincare brand Australian Bodycare in the UK and various parts of Europe, in addition to the make-up brand Billion Dollar Brows and the French skincare brand Phytomer.
Kevin and Fiona have vast experience of the company’s strengths and strategy and will move the business to the next level in the years ahead. This change in ownership will ensure the smoothest transition for the company; especially the staff.
Ken and Maggie were supported in the legal process by Jamie Berry and Jonathan Forrest of TWM Solicitors, Guildford.
Commenting on the support received by the Menzies Corporate Finance team, Ken Lamacraft said:
“We have recently sold our business in the Beauty Industry to a management buy-out team. The process was of course long and detailed from a legal and financial perspective. The expertise provided by Menzies in the form of Kevin Paget and Tabitha Hyde, and the support team of experts in their respective fields, was outstanding in guiding us through the intricacies of the financial due diligence and successfully completing the sale. Even as experienced business managers, we were not prepared for the multitude of issues and challenges we would face. The experience and knowledge provided to us ensured a smooth transition through the process itself. We would totally recommend them to assist with any sale and purchase transactions.”
Kevin Paget, Menzies Corporate Finance Director, commented:
“Menzies are delighted to have been part of the successful sale of the business responsible for selling the popular skincare brand Australian Bodycare. Menzies has worked with the company and its founders for more than 25 years and has seen how the founders had built up a profitable company alongside an excellent management team.
In our view, an MBO was the natural progression for the company which enables the founders to retire knowing that the company will continue to thrive. The team at Menzies wish the vendors all the best for their well-earned retirement and the new management team every success as they take the company into a new chapter.”