Stellus Capital Management provided senior debt financing and an equity co-investment in support of Bansk Group’s acquisition of amika and Eva NYC, two scaled independent haircare brands in the United States.
Founded in 2009, amika is one of the largest independent haircare brands in the United States. and the only one of scale at the intersection of professional, prestige and digital channels. amika’s high-quality, innovative and responsible products cater to all hair types, textures and styles, and its brand and artistic culture are defined by an inclusive ethos that has built a passionate and diverse community of loyal consumers and salon professionals.
Founded in 2012, Eva NYC has become one of the fastest growing masstige haircare brands in the United States. The brand is committed to delivering high-quality products with proven results at accessible price points and is the only masstige brand with an aluminum packaging portfolio that is 100% recyclable, certified cruelty-free, vegan, non-GMO and free of harmful ingredients.
“We appreciate Stellus’ ability to work quickly and efficiently in support of the transaction. We look forward to expanding our relationship with Stellus as we continue to accelerate the growth of these two distinctive brands,” Tim Stone, vice president at Bansk, said.
“We are excited for the opportunity to partner with Bansk and the amika and Eva NYC teams,” Colin Baker, managing director at Stellus, said. “The two brands are positioned as industry leaders within their respective categories, which should be further enhanced through Bansk’s ownership.”