Leading Hair Care Platform JD Beauty Sold to ACON Investments, Merges With Goody Products

LOS ANGELES—Intrepid Investment Bankers (Intrepid), a leading middle-market investment bank, announced today that it acted as the exclusive financial advisor to JD Beauty Group (JD Beauty), a portfolio company of Topspin Partners (Topspin), on its acquisition by private equity firm ACON Investments (ACON), the owners of the iconic hair styling tools and accessories brand Goody Products (Goody).

JD Beauty is a fast-growing, innovative beauty platform and the company behind the popular and market leading Wet Brush, Bio Ionic, and Ouidad hair care brands. JD Beauty will merge with Goody, creating a hair care powerhouse, uniquely poised to serve the beauty industry. Intrepid previously advised JD Beauty on its sale to Topspin.

“JD Beauty has built a platform of high-performing, authentic hair care brands supported by a talented management team. We knew this would translate into incredible interest in the marketplace,” said Steve Davis, Managing Director and Head of the Beauty & Personal Care practice at Intrepid. “We are proud to have known the JD Beauty team for over five years having advised them on their initial sale to Topspin. It is exciting to see what the JD Beauty team built alongside Topspin, and we are confident that their tremendous success will continue under ACON and with the addition of the Goody brand.”

“We selected Intrepid as our advisor based on their beauty care expertise, M&A capabilities, history with JD Beauty, and our personal relationship with the team,” said Leigh Randall, Managing Partner at Topspin. “Intrepid delivered on their promises to us and found us the right buyer in ACON. We wish the JD Beauty team the very best in their next chapter.”

Jeffrey Davidson, Chief Executive Officer of JD Beauty who will become CEO of the combined entities said: “This transformational acquisition will combine one of the fastest growing companies in the beauty industry with one of the country’s most iconic and trusted beauty brands, Goody. We greatly value the advice and support of the Intrepid team who has been our trusted investment banking partner over the past five years.”

JD Beauty designs, markets, and sells the Wet Brush branded line of hair brushes and accessories. Wet Brush is the No. 1 hair brush brand sold through the professional beauty channel and the fastest growing hair brush brand in the consumer retail channel. Bio Ionic is a leading provider of technologically-advanced, innovative and high-performance hair tools for the professional hair care industry, including hair dryers, flat irons and curling irons. Ouidad is one of the top wet goods hair care brands devoted to the large, high-growth curly hair category. With the integration of these market-leading brands, JD Beauty has established a powerful multi-channel distribution network, a suite of innovative products and a portfolio of hair care brands with leading positions across the hair accessories, tools and liquids categories.

Deal Team Contacts

Steve Davis, Managing Director

Brian Levin, Director

Lauren Antion, Associate

Media Contact

Andreea Popa, Director, Marketing & Communications

About Intrepid Investment Bankers

Intrepid provides M&A, capital raising and strategic advisory services to entrepreneurs and middle-market companies in various industry sectors. Our heritage breeds a culture that embraces teamwork, tenacity and creativity to win big for our clients. We believe that every company has an entrepreneurial passion that drives it and a story that defines it. Our team delivers results through skillful positioning and relentless execution. Based in Los Angeles, Intrepid augments its international capabilities through its active participation in Oaklins, an exclusive global alliance of M&A advisory firms.