Grupo Espaçolaser, Brazil's leader in laser hair removal, today announced a significant growth capital investment by L Catterton, the largest consumer-focused private equity firm in the world. The investment will be used to support and accelerate Espaçolaser's continued growth in Brazil. Terms of the transaction were not disclosed.
Founded in 2002 by Dr. Ygor Moura in partnership with Tito Veiga Pinto and Paulo Iasz de Morais, Espaçolaser strives to improve the quality of life of women and men that value health, beauty and wellness with the Alexandrite laser, the most sophisticated and effective hair removal technology available. Espaçolaser is the largest laser hair removal company in Brazil, and currently has 130 company-owned and franchised locations across the country. In 2015, the Company partnered with Xuxa Meneghel and José Carlos Semenzato to further develop and grow its network of franchises. Espaçolaser will continue to be led by Dr. Moura and Mr. Iasz de Morais, with Dr. Moura serving as CEO.
"With the partnership of L Catterton, we are well-positioned to drive significant growth and enhance Espaçolaser's industry leadership," said Dr. Moura. "L Catterton brings the expertise of a global consumer investor, combined with vast experience elevating strong brands with enormous appeal. Moreover, L Catterton has a deep understanding of our industry through its investment in Ideal Image, the largest laser hair removal company in North America. We are confident that together, we will unlock Espaçolaser's untapped potential to bring our unique value proposition to more men and women across Brazil."
Mr. lasz de Morais added, "L Catterton's unparalleled experience building leading consumer brands around the world and deep understanding of the consumer market makes them the ideal partner for Espaçolaser. L Catterton supports our commitment to being the largest – and best – laser hair removal company in Brazil, and we know their financial and operational capabilities will be indispensable during our next phase of growth. With L Catterton, we look forward to expanding our footprint and diversifying our business as we continue our path of innovation in the Brazilian market."
"Espaçolaser has experienced rapid growth and today is the clear market leader in Brazil," said Julio Babecki, Partner, L Catterton Latin America. "With a loyal and growing customer base, high brand awareness, strong fundamentals and ample runway to expand in Brazil and beyond, Espaçolaser's value proposition is unmatched. Ygor, Paulo and the entire management team have done an incredible job establishing a strong foothold in the market, and we look forward to working with them to build on their winning position."
"We see a great opportunity in Espaçolaser, which holds a strong position in a large, growing and highly underpenetrated market," said Farah Khan, Partner, L Catterton Latin America. "With locations in almost every state, Espaçolaser has become the premier laser hair removal company in Brazil. Differentiated by its unique technology, effective service offerings and broad presence, we are confident Espaçolaser will be another great success story in the attractive beauty and aesthetics category."
Espaçolaser is the third investment by the L Catterton Latin America fund ("LCLA II"). The fund has offices in Brazil, Colombia, Mexico and New York and has made previous investments in Bodytech, a leading health and fitness player in Latin America, and Grupo St. Marche, one of the most innovative food retailers in Brazil.
About Espaçolaser
Espaçolaser was founded in 2002 by Ygor Moura, Tito Veiga Pinto and Paulo Iasz de Morais with the opening of a store in the Moema neighborhood of São Paulo. Currently, the company has 130 stores spread across the states of São Paulo, Paraná and Brasilia, and it has also developed an important network of franchise stores across Brazil. Espaçolaser's mission is to provide health and wellness through the use of the best technique for the removal of unwanted hairs in women and men. The Company utilizes the most sophisticated and effective technology available, the Alexandrite laser. The technology is also embedded with a cooling cryogen solution which makes the treatments quicker and more comfortable compared to other hair removal methods. Espaçolaser has become the largest laser hair removal company in the country with over 1,000,000 treatments completed.
About L Catterton
L Catterton, formed in 2016 through the partnership of Catterton, LVMH and Groupe Arnault, is the largest consumer-focused private equity firm in the world, operating multiple funds out of seventeen offices across five continents. Since its founding in 1989, Catterton has leveraged its category insight, strategic and operating skills, and network of industry contacts to establish one of the strongest private equity investment track records in the middle market. L Catterton builds on this heritage and the strong track record of LVMH and Groupe Arnault's existing European and Asian private equity and real estate operations, conducted under the L Capital and L Real Estate franchises. L Catterton invests in all major consumer segments, including: Food and Beverage, Retail and Restaurants, Beauty and Wellness, Fashion and Accessories, Consumer Products and Services, Consumer Health, and Media and Marketing Services, as well as real estate projects anchored by luxury retail. L Catterton's investments include: Steiner Leisure, Groupo St. Marche, Bodytech, El Ganso, Hopdoddy, PIADA Italian Street Food, Mendocino Farms, CHOPT Creative Salad Company, Bruxie, Protein Bar, Snap Kitchen, Peloton, Restoration Hardware, CorePower Yoga, Sweaty Betty, Outback Steakhouse, Plum Organics, Noodles & Company, Vroom, Frederic Fekkai, PIRCH, Build-A-Bear Workshop, Wellness pet food, Nature's Variety pet food, Kettle Foods, Odwalla, P.F. Chang's, Ba&sh, Sandro & Maje, CellularLine, Vicini / Zanotti, Cigierre, Gant, Nutrition and Sante, Pepe Jeans & Hackett, 2XU, Charles & Keith, Marubi, Bateel, Sasseur, Emperor Watch and Jewelry, Miami Design District and G6 in Ginza - Tokyo, to name a few. More information about L Catterton can be found at www.lcatterton.com.
