Shaun Pulfrey has sold most of his shares in Tangle Teezer to Mayfair Equity Partners in a deal that values the company at £70 million. Founded in 2007, the original detangling tool became a must-have, with celebrities and stylists leading the charge. London-based Mayfair will now partner with James Vowles, chief executive, and the management team at Tangle Teezer, with further international growth eyed. The business generated £30m in sales for 2020, with growth continuing throughout the pandemic.
Mr Pulfrey, a stylist who innovated after “searching for decades” to find a quick and easy way to detangle hair without tugging and pulling, said: “I am immensely proud to be joining forces with Mayfair in a strategic partnership on the next stage of the growth story for Tangle Teezer.
“Their proven ability to back strong brands, with founder and management led business teams, made them my natural choice. I’m incredibly excited for the future and the new opportunities it will present for our iconic and much-loved brand including continuing to bring even more new product innovation, which is the heartbeat of the brand.”
The business was famously rejected by the panel on Dragons Den in 2007 when Pulfrey pitched for an £80k investment to professionalise his business.
Seeking £80,000 to professionalise, it was described as “hare-brained” by Peter Jones while Deborah Meaden likened it to a horse brush.
Vowles added: “Shaun has built an incredible brand which has delighted consumers across the world, and works so well on different hair types. From the strong foundations in detangling, the brand has successfully expanded into styling, blow-drying and now scalp care as well as detangling sprays. We’re all hugely excited to be working with Mayfair for the next stage of growth.”
The brand is now sold in more than 75 countries, through major retailers and online platforms, and now offers a broad range of tailored products for different hair types, with ergonomic designs.
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