WestView Capital Partners Exits Investment in DAVEXLABS, LLC
November 29th, 2021
Boston, MA and Santa Monica, CA – WestView Capital Partners, a Boston-based private equity firm, announced today that it has completed the sale of its ownership position in DAVEXLABS, LLC ("the Company"), a leading independent hair care brand dedicated to the professional salon channel and emerging fast growing direct-to-consumer channel, to Juggernaut Capital Partners, a Washington, D.C. based private equity firm.
Under its L’ANZA brand, the Company develops and markets high performance premium salon hair care products designed specifically to heal, seal, and protect hair. The Company incorporates proprietary formulations and advanced ingredient complexes into salon retail products including shampoos, conditioners, hair sprays, and styling products as well as service-based products including hair color and treatment systems. Over the course of WestView’s investment, L’ANZA has significantly expanded and diversified its domestic and international sales channels and now has a presence in more than 30,000 professional salon doors as well as a fast-growing online business.
“We have had a great partnership with WestView,” said David Berglass, CEO of L’ANZA. “We are extremely appreciative of their strategic support as we invested in the infrastructure to support growth and expanded L’ANZA’s reach via new products, channels, and relationships. We are excited to continue to grow L’ANZA with the benefit of those investments and strategic decisions in the Company’s next phase of growth.”
“We are extremely proud to have partnered with David and the entire L’ANZA team,” said Carlo von Schroeter, Managing Partner at WestView. “David embodies the type of entrepreneur that WestView seeks to back, and his leadership and his team’s unwavering dedication have enabled L’ANZA to achieve record growth and profitability. We are glad to have contributed to the Company’s growth and wish David and team ongoing success as they continue to build L’ANZA into a major national hair care brand.
WestView and L’ANZA were advised by Raymond James and Latham & Watkins LLP on this transaction.
For over 30 years, L’ANZA has pioneered some of the most advanced, cutting-edge technology the industry has ever seen. From care to color, L’ANZA uses the most advanced ingredient technology, perfectly balanced with wildcrafted botanicals and potent actives to heal, seal, and protect the hair. We have earned a reputation for creating exceptional products acclaimed for their unsurpassed performance. For more information, please visit www.Lanza.com
About WestView Capital Partners
WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1.7 billion in capital across four funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in industries such as software and IT services, business services, healthcare technology and outsourcing, growth industrial, and consumer. For more information, please visit www.wvcapital.com