Margaret Dabbs London / Best World International
Cavendish Corporate Finance, the UK’s leading sell-side specialist M&A firm, has advised premium, direct-to-consumer, British beauty brand Margaret Dabbs London on the sale of a minority holding to Best World International.
Founded in 1990, Best World International (“BWI”) is a Singapore headquartered company specialising in the development and distribution of premium skin care, personal care, nutritional and wellness products.
The sale to BWI will accelerate Margaret Dabbs London’s expansion plans, in line with founder Margaret Dabbs’ vision for the creation of a global brand.
Recognised by Tatler magazine as “the go-to place for feet and hand treatments around the world”, Margaret Dabbs London was founded in 2004, and became famous in 2007 after being approached by Harrods to open a clinic on the fifth floor of its flagship Central London store. Since then Margaret Dabbs London has established a total of nine clinics throughout the UK, and four internationally in the Middle East and Spain.
The company is the first of its kind to target a significant gap in the market for a medically-credible and premium cosmetic solution for foot, hand and leg care. The global cosmeceuticals market is expected to outpace the general beauty market growing at a compound annual growth rate of 8.8% between 2019 and 2024 reaching $85 billion.
Initially created for use in Margaret Dabbs London clinics, products are sold direct through both the clinics and the company’s website, and indirectly through luxury hotels and spas and major retailers including Liberty, Harrods, John Lewis and SpaceNK in the UK.
Margaret Dabbs London made £7.7m revenue and £1.8m EBITDA for the year ending 31st December 2019.
The brand’s premium positioning attracts a loyal customer base of high achieving professional men and women, including a number of well-known celebrities, politicians, actors and sportsmen and women.
The Cavendish team was led by Jonathan Buxton, Partner and head of consumer and Rebecca McCredie, Associate Director.
Jonathan Buxton, Head of Consumer and Partner at Cavendish, commented:
“It was a great pleasure to work with Margaret Dabbs and her team – Margaret is a remarkable entrepreneur and has pioneered an entirely new category for the sector, building an amazingly resilient business with huge potential. We are excited to have found such a transformational partner for Margaret Dabbs London.
The transaction demonstrates the reach of our offices around the world, as well as Cavendish’s in-depth knowledge of the beauty and personal care sector.”
Rebecca McCredie, Associate Director at Cavendish, added:
“The key to the success of this deal was working with Margaret and her team to prepare the business well ahead of the sale. We started work over 18 months ago and the preparatory work was crucial to the eventual smooth transaction. Many congratulations to Margaret, Ian and team!”
Margaret Dabbs, Founder and CEO of Margaret Dabbs London, commented:
“Thank you to the Cavendish team for your unwavering support throughout this process. Finding a strategic overseas partner to allow me to realise my global ambition was my number one aim, and this has been achieved. In the current market the result you have delivered is exceptional.”
“In completing this transaction, we wanted to ensure that the growth and success of the business that we have built to date is the foundation for further expansion in the years to come. We are delighted with the outcome and we would like to thank the team at finnCap Cavendish for all of their help throughout this process. They are experts at advising founders and entrepreneurs and they provided us with invaluable advice and guidance throughout.”
“We are delighted to be partnering with Rockpool. This transaction will enable us to accelerate our long-term growth objectives and help expand our international presence, especially in the US. Karri and Amy achieved a fantastic result for us and their ecommerce sector expertise, professionalism and unwavering dedication throughout the process were instrumental in achieving a successful completion.”
“We are immensely grateful for the hard work and expertise we received from finnCap in securing this fundraise. Zuleika’s knowledge and communication skills were outstanding. It is the first time we have raised external funds so we were heavily reliant on their introductions, all of which were a good fit for Ro&Zo. Zuleika’s guidance through the process was exemplary. We are delighted to have chosen Pembroke as our new shareholders and look forward to a long relationship with them as we continue our growth strategy.”
“On behalf of all of the shareholders at Peach, a huge thank you to the team at finnCap Cavendish – they have done a great job. With the unprecedented macro back-drop that we have all been experiencing, we needed an adviser who was thoughtful, tenacious and prepared to go the extra mile. We got of all this in spades from the finnCap Cavendish team and it has been a pleasure to work with them. We would not hesitate to recommend them to other business founders and entrepreneurs who are in need of experience-led judgement and advice.”
“I would also like to thank the team at finnCap Cavendish. They have done a great job in finding us the right buyer and running a smart and efficient process. Their support throughout has been excellent and combined with their commercial approach and sector knowledge, they have made great advisers for us.”
“Joe Stelzer and his team at finnCap Cavendish were the perfect partners as we navigated this exciting next step for the group. The firm’s wealth of expertise in advising entrepreneurial growth businesses, partnered with their quality of service and professionalism was invaluable and helped make this deal function as smoothly as possible.”
“This transaction is huge for our business as we look to continue our growth journey. We’re very excited to have raised enough capital from a leading impact investor to expand our market-leading position and maintain standards of excellence across all our products. We’re hugely grateful to the team at finnCap, who played a fundamental role, in what we hope, will be a very exciting growth story.”
“I would like to thank all of those involved in the process that has concluded with us ultimately choosing Neighborly as our partner going forward, those at finnCap Cavendish and our CFO Mike Bergin, without whom this would have not happened.”
Thank you to the Cavendish team for your unwavering support throughout this process. Finding a strategic overseas partner to allow me to realise my global ambition was my number one aim, and this has been achieved. In the current market the result you have delivered is exceptional.
It was a great pleasure to work with the Cavendish team again having originally worked with them when we sold Naked Wines to Majestic Wine in 2015. John, Rebecca and the team rigorously assessed the market to find the right new owner for a business with dedicated staff and suppliers and the right deal to achieve Naked’s goal of realising capital and simplifying the business.
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