The HydraFacial Company, an experiential beauty and health company, and Vesper Healthcare Acquisition Corp., a special purpose acquisition company are set to combine in the first half of 2021. According the transaction, HydraFacial is valued at an enterprise value of $1.1 billion. The California-based company’s signature offering is the HydraFacial system, which provides customers with a non-invasive and accessible skin treatments. The three-step, 30-minute treatments are designed to cleanse, extract, and hydrate the skin, with plenty of opportunities for customization, and HydraFacial products have been utilized in over 87 countries. In 2019, around three million of the company’s treatments were administered around the world.
“This is a significant day for Vesper Healthcare and HydraFacial as we team up with a category-creating company in the emerging area of beauty health,” says Brent Saunders, CEO and cofound of Vesper Healthcare. “Our goal is to build a premier company in beauty health, focused on providers such as estheticians and nurse practitioners, consumers, and partners and we believe that HydraFacial is the perfect platform to achieve this goal. HydraFacial possesses industry-leading consumer satisfaction scores and has presence in two high-growth categories within personal care – skincare and, more recently, hair care. We look forward to working with the HydraFacial team to create a valuable, industry-leading, global company in beauty health.”