Vendis Capital, the European private equity fund specialized in the consumer sector, joins forces with the founders and management of 2 leading Dutch cosmetic clinic chains: SOAP and BM Clinics. Through further acquisitions and the opening of new clinics, the aim is to make the high quality treatments offered by these clinics available to an even larger group of consumers.
Cosmetic treatments are rapidly gaining popularity. Growing interest among women – and also increasingly men – in wellness and personal care has led to strong growth in a wide range of beauty, skin, laser and injectables (botox and fillers) treatments. Over 90% of Dutch people now have a positive or neutral opinion of these products and services, providing a strong foundation for further growth in the years to come.
For the most part, these treatments are still offered in small independent clinics in the Netherlands. Today, the new group has 17 clinics and plans to continuously expand this number. It is precisely because of the scale offered by the new group that the highest quality standards can be guaranteed, the latest treatments offered by the best practitioners and the company can remain at the forefront of quality and service.
SOAP was founded in Amsterdam in 2005 by sisters Esther and Stephanie Litjens. They brought a unique concept – inspired by ‘New York City Spa’s’ – to the Netherlands. SOAP has grown into a premium chain of boutique clinics in the Netherlands with a wide range of beauty treatments – from manicures to facials and from injectables to laser hair removal – and excellent service. Doctor David Mosmuller joined in 2019 to further expand the injectables treatments. The focus is on offering a more natural appearance according to the ‘no trace face’ principle; a fresher, younger appearance without looking treated. Today, SOAP is active in seven cities in the Netherlands with its unique concept.
BM Clinics was started in Eindhoven in 2013 by Monique Vonken and is a value-for-money provider, mainly of injectables. BM has a clear focus on making high-quality treatments accessible to a broad target group through affordable prices. BM sets the highest standards in terms of quality and service, with treatments carried out exclusively by doctors. Today, BM Clinics is active in nine cities in the Netherlands with its affordable concept.
Management of the new group includes Stephanie Litjens and David Mosmuller and is headed by newly appointed CEO David Sloff. David brings considerable experience from his previous roles at Diageo and Procter & Gamble. “I am impressed with the strong brands the founders have established. I look forward to accelerating the company’s growth together, supported by Vendis Capital’s expertise in building brands and their experience in rolling out winning concepts.”
Vendis Capital partner Vincent Braams: “We are excited about the market for non-invasive cosmetic treatments and see SOAP and BM Clinics as strong leaders in this rapidly growing and fragmented market. The group is well positioned to become a European leader through its unique consumer offerings, an experienced and reputable team of physicians, practitioners and staff, and a strong management team. Through the opening of new clinics and an active buy & build strategy we will together accelerate the growth of the group. We already expect to make additional acquisitions in the near future and add these clinics to the group.”
The acquisition of SOAP and BM Clinics and the subsequent formation of the new group represents the first investment for Vendis Capital IV.
