M&A Advisory

This Works

Adviser to private equity firm Inspirit Capital on acquisition of award winning sleep and skincare brand, This Works, from Canopy Growth Corporation.

The deal

FRP Corporate Finance is pleased to have advised private equity firm, Inspirit Capital on the acquisition of award-winning, clean, cruelty-free skin and body care solutions brand, This Works, from Canopy Growth Corporation.

Based in the UK, This Works offers a range of high-quality natural skincare and sleep solution products to consumers to its international customer base through all major channels. They develop, market and sell their own range of science-backed and clinically proven products. It has launched several category defining sleep products and has remained at the forefront of trends in skincare and wellness since 2003.

Inspirit Capital is a London-based investment firm that specialises in acquiring businesses that are no longer core to their parent company’s strategic objectives and require a different ownership structure to achieve their full potential. Inspirit manages capital on behalf of a blue-chip institutional investor base.

FRP Corporate Finance were appointed as advisers to support Inspirit throughout the transaction, offering particular insight, knowledge and expertise in the beauty and wellness sector, not just in the UK but across the several key geographies that This Works operates in.

Our team, led by Partner Victoria Kisseleva and supported by Senior Manager Chris King, Senior Manager Madhavi Morjaria and Assistant Manager Satnaam Virdee played a crucial role in furthering Inspirit’s understanding of both This Works and its core markets, and allowing them to execute and capitalise on the brands leading position in the market.

Victoria Kisseleva, Partner at FRP Corporate Finance, said: “As the frontrunner in pioneering sleep solutions and specialised skincare, This Works has not only transformed the well-being of tens of thousands but has also become the paramount force in addressing the essential need for quality sleep in our fast-paced lives. It’s truly rewarding to have played a role in supporting Inspirit Capital’s inaugural venture into the beauty & wellness sector. Together, they are poised to elevate This Works to unprecedented success, reinforcing its dominant position in the industry.”

Will Stamp, Partner at Inspirit Capital, said: “We are excited to invest in This Works and support Anna and the team pursue their ambition for the business. They are well positioned to capitalise on the ongoing growth in consumer interest in sleep and wellness, given the strong brand equity and their track record of product innovation. This deal also further underlines Inspirit’s status as a trusted partner for delivering divestments from corporate vendors.”

Arnot Birss, Investment Associate at Inspirit Capital, said: “Inspirit reached out to FRP as soon as the opportunity was introduced to us and they provided valuable insight from the get-go. We relied on their support at every stage of the transaction and we are very grateful to Victoria and the team for their sector experience, robust analysis and overall guidance.”

Anna Persaud, CEO at This Works, said: “Over the last few years, This Works has continued to develop exciting new products and formulations that our customers love, alongside growing our presence internationally. We are proud that our offering truly resonates with consumers seeking skincare and wellness products that are backed by science, and proven to work. We are confident that, with the support of Inspirit, This Works’s brand story will keep going from strength to strength.”

Deal summary

Date:

December 2023

Sector:

Consumer & retail

Deal type:

Buying a business

Deal size:

£9.3 million

It's truly rewarding to have played a role in supporting Inspirit Capital's inaugural venture into the beauty & wellness sector. Together, they are poised to elevate This Works to unprecedented success, reinforcing its dominant position in the industry. Victoria Kisseleva Corporate Finance

Related team

Victoria Kisseleva

Victoria Kisseleva

  • Partner
  • Corporate Finance
  • London West End

Chris King

Chris King

  • Associate Director
  • Corporate Finance
  • London West End

Madhavi Morjaria

Madhavi Morjaria

  • Senior Manager
  • Corporate Finance
  • Reading

Satnaam Virdee

Satnaam Virdee

  • Assistant Manager
  • Corporate Finance
  • London West End