According to S&P Global Market Intelligence, Core Equity Holdings has acquired a majority stake in the European haircare company Provalliance SAS, which owns 17 salon brands, as well as operating professional haircare distributor Bleu Libellule.
For a while now, the Belgian private equity fund has been on the lookout for good investment opportunities in the hair salon chain business and has recently announced its investment in French group, Provalliance SAS, now the biggest player in Europe.
Founded by French stylist Franck Provost, Provalliance incorporates brands such as Jean Louis David, Llongueras and Saint-Algue, as well as the Franck Provost chain itself – in total a global network amounting to 3,000 salons in 35 countries.
After a long year of pandemic, during which many salons have struggled to survive through lockdowns and economic downturns, some big franchising chains such as Provost and Dessange have reported a year-on-year loss in turnover of around 30%. In a situation such as this, investors with money to spend can play an important role in supporting companies in the immediate future to make a profit in the medium term.
Core Investment is a European Investment Fund based in Brussels and is targeting companies with long-term growth potential and value between €300 million and €1 billion.
It has declared that most of the individuals currently running the company will keep their positions, including the Provost family and the top management of Provalliance and Bleu Libellule.
