EY Ukraine advised Horizon Capital in connection with its investment in MAKEUP. The Emerging Europe Growth Fund III, LP (EEGF III), managed by Horizon Capital, acquired a significant minority stake in the company and became its biggest financial investor. The financial details of the transaction are not disclosed.
Founded in 2009, MAKEUP has rapidly become a leading online retailer in Europe specializing in beauty products, striving to provide customers with the best service and diverse variety of products. MAKEUP has built a strong reputation for innovative approach to customer service, offering over 200,000 SKU’s to millions of customers – the broadest product offering among any cosmetics and perfume online or offline retailer in Europe.
The multi-disciplinary team of EY experts acted as an advisor to the buyer and conducted legal, taх and financial due diligence, as well as provided deal signing and closing support. EY project team was led by Igor Chufarov, Partner, Tax & Law. The financial part was managed by Larysa Marchenko, Partner, Transaction Advisory Services. The legal team was led by Bogdan Malniev, Director, and included Ivan Mustanien, Senior Manager, Daria Tkachenko, Senior Associate, Vitalii Pustovyi, Senior Associate and Yurii Kovalenko, Associate.
«Advisory support of investment in MAKEUP perfectly complements the portfolio of our projects in e-commerce. We have already had an opportunity to support Horizon Capital’s investments in Rozetka, merger of Rozetka and EVO Group (prom.ua and other projects) and gathered the unique experience working with the biggest online retailers. We are grateful to Horizon Capital for their trust in our expertise and for involving us in new complex projects», – commented Igor Chufarov.
We are pleased to remind that EY advised Horizon Capital on the investments in Ajax Systems, Dobrobut and Intellias.
Horizon Capital is a leading investment company in Ukraine, which manages four direct investment funds (more than 40 institutional investors). The company controls more than $850m. The aggregate capital of fund investors exceeds $350b. Horizon Capital's funds invested a total of over $650m in 140 companies that employ 46,000 people in Ukraine and the region. Horizon Capital is an active investor and supports entrepreneurs – visionaries that transform the business environment in Ukraine and the region.
MAKEUP – e-commerce retailer specializing in beauty products, that operates in 14 markets, including Austria, Belarus, Bulgaria, Czech Republic, Germany, Hungary, Italy, Kazakhstan, Moldova, Poland, Romania, Russia, Slovakia, and Ukraine. Company guarantees a high-quality service and authenticity of products, verified by European Union quality assurance system. MAKEUP's mission – the world of beauty that is available to anyone.
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