Press Release (ePRNews.com) - MIAMI - Dec 21, 2018 - Virtù Equity, a private equity firm headquartered in Miami, has signed an investment agreement with Kerotin, a hair-care brand with worldwide sales based in Victoria, Canada. Under the agreement, Kerotin will receive strategic business-development support from Virtù, with the goal of accelerating growth for the consumer products company.
Kerotin’s founders are to remain fully engaged in the business, and together with Virtù executives plan to form a new board and management team under the leadership of Marcos Fabio Lopes e Lima, a partner at Virtù Equity who will serve as Kerotin’s new president.
“For a company only 2 years old, Kerotin’s early success created a pace of growth much faster than its founders anticipated, creating significant pressure on the company to rapidly increase capacity,” said Lopes e Lima. “Virtù Equity had been pursuing a beauty brands investment strategy and Kerotin, with its huge fan base and strong consumer engagement, was a perfect fit.”
“The beauty industry, more precisely in the direct-to-consumer segment, is one of the fastest-growing industries,” said Gabriela Ribeiro, future business development director for Virtù and former engagement manager at McKinsey & Co. “Besides that, we also believe that this segment presents an outstanding opportunity for disruptors. That is why we have assembled the best resources to bring this innovation to life.”
Once the transaction is completed in the coming weeks, the new management team will initiate a careful integration process to ensure that Kerotin has a solid foundation to facilitate growth.
According to Lopes e Lima, China will be Kerotin’s first major market target beyond the English-speaking countries.
“We have established strategic relationships with local partners that will help us move forward in China,” he said. “And, with the support of our network of specialists, we expect a second wave of product innovation to boost Kerotin’s performance even further.”
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Kerotin was founded in Victoria, British Columbia, Canada, and launched in 2016 as a direct-to-consumer brand focused on hair treatments with supplements, shampoo, conditioner and masques, among other products. With nearly a half-million followers on social media, Kerotin sells its products globally, and in only two years has joined the top-five best-selling hair growth treatment brands. A relevant indicator of Kerotin’s market success is its returning customer rate, which represents about 40 percent of revenues in a company growing at a rate of 50 percent year over year. www.kerotin.com
About Virtù Equity Partners Inc.
Virtù Equity Partners Inc. is a private equity group investing in small-cap companies that demonstrate a disruptive potential when exposed to innovation and effective management. Business development is at the core of Virtù’s approach, combined with nimble execution through strategic alliances. Virtù’s initial investment was in the women’s accessories segment in 2009. Virtù’s partners are top-performing professionals with expertise in diverse industries such as financial markets, consumer products, strategy consulting, automotive, home appliances, food and beverage and hospitality. Headquartered in Miami, Virtù also has partners in New York and Canada. www.virtuequity.com
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