Ashurst advises finance parties on Pool Service's acquisition of Panzeri Diffusion

Pool Service, one of the leading Italian professional hair care groups and owner of the iconic brand Medavita, was acquired by BlueGem last year (Ashurst advised the same finance parties on the financing supporting the acquisition). The add-on purchase of Panzeri Diffusion and the other target companies, which also operate in the field of professional hair cosmetics through several brands, such as Z.one Concept, Milk Shake, No Inhibition, Simply Zen, Depot and Urban Tribe, will allow the combined group (to be called "BeautyNova") to become the third largest group in this sector in Italy, with an aggregate pro-forma turnover of around €90 million.

The Ashurst cross-border deal team was led by Milan banking partner Mario Lisanti, supported by Francesca Cioppi (associate), Martina Riva (trainee), Davide Cipolletta (trainee) and Alessandra Poggi (stagiaire); Milan-based tax partner Michele Milanese advised on certain Italian tax aspects of the deal. The London team was led by banking partner Ross Ollerhead, supported by Tamsin Crawford (senior associate). NY-based banking partner Michael Neary advised on the US law matters, supported by Matt Haist (counsel) and Ana Namaki (law clerk).