Killa Brush, the innovative hair and scalp health brand co-founded by experienced beauty entrepreneurs Penelope Cheshire and Matt Lumb, has completed a £2.65m growth capital investment with Arete.
The investment will support the company as it builds its management and operational capabilities, accelerates its expansion in the UK and internationally, and develops a broader pipeline of products across the hair and scalp health category.
Cheshire, Killa Brush’s CEO, previously founded Beauty Works and built the business from her home into a globally recognised hair brand.
Under her leadership, Beauty Works expanded its international distribution and reached £50m in turnover before being acquired by private equity firm L Catterton in 2021.
She is joined by Killa Brush COO Matt Lumb, the former CEO of Tangle Teezer.
Together, the founders bring more than 25 years’ combined experience across the professional hair and beauty sector, spanning brand development, retail, international distribution and the operational demands of scaling category-leading consumer businesses.
The founders identified an opportunity to bring greater innovation to an everyday beauty essential.
Killa Brush combines product performance, design, hygiene and scalp health, with the ambition of building a broader product platform in a category that has seen comparatively limited innovation.
The business is already building commercial momentum, with Killa Brush stocked by LOOKFANTASTIC.
Killa Brush is also collaborating with Rochelle Humes and her beauty and wellness brand, My Little Coco.
The partnership supports the company’s strategy of building consumer awareness through collaborations that align naturally with its target audience and wider beauty positioning.
Arete’s investment will provide growth capital to support Killa Brush’s management expansion, domestic and international growth plans, and continued product development across the category.
As part of the investment, Mike Fletcher, managing partner at Arete Capital Partners, will join the board as a director and work alongside the founders as they execute the company’s growth strategy.
Penelope Cheshire, CEO and co-founder of Killa Brush, said: “What I’ve always liked about Arete is that they provide more than just the capital.
“They bring ‘real world’ experience, relationships, know-how and practical support to the entrepreneurs and businesses they back.
“I’ve known and invested alongside the team for a number of years, so when the opportunity came for them to invest in our business, I already knew the people and the way they worked.
“This investment gives us the platform to accelerate our plans for Killa Brush, both in the UK and internationally, while continuing to develop products that bring genuine innovation to the category.”
Mike Fletcher, managing partner at Arete Capital Partners, said: “A major part of our investment approach is backing high-quality entrepreneurs who have already demonstrated their ability to build successful businesses in markets they understand exceptionally well.
“Penny and Matt have exactly that experience we look for, and it was a significant part of what attracted us to Killa Brush.
“Hair and beauty has evolved enormously in recent years, yet the traditional hairbrush has seen relatively little meaningful innovation.
“The Killa Brush team has approached the category differently, bringing together product performance, scalp health and a strong consumer brand proposition.
“We are investing at an exciting stage in the company’s development. There is a clear ambition to build the business domestically and internationally, supported by an extensive product development pipeline, and we look forward to working closely with Penny, Matt and the wider team as they deliver that plan.”
The transaction was led by Mike Fletcher with support from Andy Critchley, portfolio director, and Phil Rainford, head of distribution, at Arete Capital Partners.
Arete was advised by Hill Dickinson, led by Elan Iorwerth (partner) and Sarah Simpson (partner), and PwC, led by Dan Harris (partner) and Gill Pooler (director).