Olaplex Sells To Private Equity Firm Advent International

Olaplex, the creator of the bond building category, has a new owner. Purchased by private equity firm Advent International, the terms of the deal weren’t disclosed—but industry sources say that Olaplex has more than $1 million in sales and is valued at around $1 billion, according to WWD. Advent International previously backed Douglas, a European hair and beauty retailer, until 2015. 

Then And Now: Here’s What’s Changing At Olaplex

Founded in 2014 by Dean and Darcy Christal, Olaplex is a patented chemical process that links broken bonds in the hair before, during and after chemical services. Developed in a garage by Dr. Eric Pressly and Dr. Craig Hawker, the three-step process contains a patented active ingredient that works on a molecular level to seek out broken bonds in the hair. Fast forward five years later, Olaplex has become a household name in salons everywhere, beloved by celebrity colorists like Chris Appleton and Justin Anderson.  

Once the deal closes, the Christals will no longer be formally involved with the company, Tiffany Walden, Olaplex Chief Operating Officer, told WWD. The rest of the Olaplex team will remain on board throughout the transition. “We’ve had an amazing ride over the last five years, but think we’re just at the beginning of where this brand could be and we were looking for a partner who had experience and demonstrated success to be able to grow our brand in new channels, deeper in our existing channels and help us launch more fully globally,” adds Tiffany.

“In every country there’s that opportunity to touch not just the professional haircare market, but also that prestige market, and we’re just at the beginning of being able to do that. So we’d be looking at going into new channels, and deeper through new product offerings or additional marketing and educational support that we haven’t historically done,” Tiffany told WWD. 

“Olaplex is an incredible opportunity from our perspective,” Tricia Glynn, Advent International Managing Director told WWD. “The Christals and Tiffany and the executive team have laid the foundation for a brand that we think truly has long-term global potential. If you think holistically about beauty right now, hair damage and hair health is a global phenomenon that we’re really at the beginning of, and we think Olaplex is the best positioned brand to serve that market.”