Quadrivio Group has acquired a majority stake in French haircare company Les Secrets de Loly through its Lifestyle Fund II private equity vehicle, marking the fund’s entry into the beauty-care segment and positioning the brand for international expansion.
The investment was made by the Quadrivio and Pambianco-backed private equity fund, with Weinberg Capital Partners and Three Hills Capital Partners joining the transaction as minority investors. The stake was acquired from Quilvest Capital Partners.
Founded in France in 2009 by Kelly Massol, Les Secrets de Loly specializes in haircare products designed for wavy, curly, coily, frizzy and afro-textured hair. The brand focuses on natural formulations intended to enhance and protect textured hair types, and has built a strong consumer following through its inclusive brand positioning and community-driven marketing approach.
Over the past three years, the company has recorded annual growth exceeding 40%, establishing itself as a leading premium haircare brand in France. Its products are distributed through pharmacies, specialty retail stores and e-commerce platforms, and the brand currently reaches a large segment of the French market, where textured hair products address two out of every three women.
The transaction represents the fifth investment for Lifestyle Fund II, Quadrivio and Pambianco’s vehicle focused on lifestyle sectors including fashion, design, beauty, food and wine. The fund’s existing portfolio includes Twinset, Sessùn, Filippo De Laurentiis and Autry.
Under the new ownership structure, founder Kelly Massol will reinvest in the company and remain involved in its development. The existing leadership team will remain in place and continue to be led by CEO Carlota Thévenot.
Quadrivio plans to support Les Secrets de Loly through the next phase of its growth strategy, which will focus on strengthening the brand’s positioning and accelerating international expansion across Europe, particularly in Spain and Italy, as well as in the Middle East. The company is targeting annual revenue of more than €100 million as part of its expansion roadmap.
Advisors on the transaction included Rothschild as financial advisor to Quadrivio, with Jeantet providing legal counsel. Strategic consulting support was provided by EY Parthenon, and financial due diligence was conducted by Interpath. Hogan Lovells advised Quadrivio on financing aspects of the transaction.
Les Secrets de Loly and its shareholders were advised by Scalène Partners and Jefferies as financial advisors, with legal counsel provided by AEF, Mayer Brown and Jeausserand-Audouard. Alvarez & Marsal and BCG supported auditing and vendor due diligence activities. Three Hills Capital Partners led its participation from the firm’s Paris office as part of its lower mid-market impact strategy.
KEY QUOTES
“Les Secrets de Loly shows all the attributes of a highly attractive brand: leadership within its niche, strong organic growth, profitability, and a committed management team. We’ll be supporting this business during its European expansion and in value creation throughout this new cycle.”
Philippe Franchet, Managing Partner At Quadrivio Group
“We’re excited to be part of the Les Secrets de Loly world. The company’s growth over recent years stands as just the first step in a much longer development journey, one that we will be guiding thanks also to Quadrivio Group’s consolidated experience in the beauty-care sector, which is of significant strategic importance for us. We firmly believe in the brand’s potential – it is currently Sephora’s haircare bestseller – and we intend to invest further in its positioning while accelerating its international rollout across Europe and beyond.”
Alessandro Binello, Group CEO At Quadrivio Group
“This operation marks a new phase for the brand. Following a successful structuring period with Quilvest, today we have solid foundations to accelerate internationally while also preserving our DNA.”
Kelly Massol, Founder Of Les Secrets De Loly
