Bluegem Capital Partners-backed Pool Service completed the acquisition of Panzeri Diffusion for £54m.

Bluegem Capital Partners-backed Pool Service, a professional hair cosmetics provider, completed the acquisition of Panzeri Diffusion, an Italian group active in the professional haircare sector, for £54m ($73m). "This is a transformative acquisition for Pool Service and Bluegem III, and we expect the group to continue to grow under the leadership of Stefano Banfo. The deal fits perfectly into the investment strategy of Bluegem III, which is focused on consumer staples with strong cash generation that have demonstrated resilience during the delicate phase of Covid-19. Furthermore, this transaction confirms Bluegem's continued interest in Italy, a market we believe in and where we see further opportunities to help accelerate the performance of some of the most promising entrepreneurial businesses," Emilio Di Spiezio Sardo, Bluegem Co-Founder.