Broadlake sells skincare brand to US company for €25m
Investment firm makes over three times return on capital
Private investment company Broadlake achieved a three-times-plus return on its capital from the estimated $30 million (€25 million) sale last week of Vita Liberata, the Northern Ireland-headquartered skincare and self-tan brand, to US-based Crown Laboratories.
Broadlake, which is led by Pete Smyth, has exited businesses worth over €100 million since November after the recent sale of shower enclosures maker Merlyn Industries for over €68 million. The Dublin-based fund made a four-times return on ...