Conair Corporation Acquires SalonQuest LLC (d.b.a. Aquage)
Pharus served as the exclusive financial advisor to SalonQuest LLC (d.b.a. Aquage) in its acquisition by Conair Corporation. Conair will invest in Aquage to fully unleash its potential – developing new products, entering new product categories, and driving international expansion.
Dennis Lubin, co-founder and CEO of SalonQuest, said “The determined efforts of the Pharus Advisors team with their extensive knowledge and experience of the beauty industry helped ensure we found a great home for our Company with Conair Professional Product’s Division. Pharus not only helped position and market our company to a broad audience of potential suitors, they worked tirelessly throughout the negotiation and diligence process to help ensure a truly smooth transaction. We wanted to find a partner who would bring incredible synergies to our company and enable us to invest in our business, expand into new categories and grow our brands internationally. Thanks to Pharus, we found just that partner in Conair.”
The shareholders of SalonQuest retained Pharus due to our comprehensive knowledge of the haircare and beauty sectors. Michael Goodman, Pharus’ co-founding partner, said, “It was a privilege for Pharus to work with Dennis Lubin, Luis Alvarez and the other professionals at SalonQuest to identify the perfect new owner for Aquage, one who can take the unique business they have built to the next level. Nothing gives us greater satisfaction than helping make the kind of great match this transaction represents between SalonQuest and Conair.”
SalonQuest LLC (d.b.a. Aquage) is a privately-held maker of innovative salon hair care products based on marine botanicals. It sells exclusively to independent salon owners. Its products are sold under the brand names Aquage, Biomega and SeaExtend. The company is based in Chagrin Falls, Ohio.
Conair Corporation develops and markets hair care and personal grooming products. It offers hair care products, such as hair dryers, hair styling irons, and other accessories. The company was founded in 1959 and is based in Stamford, Connecticut.