Mayfair Equity Partners has hired Harris Williams to oversee a strategic review of the hair care company whose founders were once rejected by the judges on Dragon's Den, Sky News understands.
The owner of British hair styling brand Tangle Teezer has enlisted investment bankers to explore options for the company, including an eventual sale.
Sky News has learned that Mayfair Equity Partners, which backs private equity firms such as Ovo Energy, has hired Harris Williams to oversee a strategic review.
The move comes as Tangle Teezer is benefiting from explosive sales in the U.S., after its founder's funding offer was rejected on the TV show “Dragon's Den.” It took place 17 years after.
People close to the situation say many options are under consideration and there is no formal timeline for the sale process.
Mayfair invested in Tangle Teezer in July 2021 to accelerate the company's international growth.
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Launched in 2007 by former hair colorist Sean Palfrey, Tangle Teezer makes a range of hairbrushes for detangling, blow-drying and styling, and is best known for its unique look.
Its rapid growth has made it a staple among hair care professionals as well as consumers.
The company currently has more than 60 patents for brushes worldwide and is present in 75 countries.
The company is run by James Vowles, who joined the company in 2017 as commercial director and will take the helm in 2021.
Mayfair declined to comment.
