L Catterton, the LVMH-backed private equity firm, is acquiring a minority stake in Swedish hair care brand Maria Nila. The partnership will help Maria Nila expand its suite of products and global reach, while bolstering L Catterton’s position in the beauty sector, according to a statement by the companies. Marcus Wikström, son of Maria Nila founders Ann and Ulf Wikström, will continue to lead the label as chief executive, a role he has held since 2016.

L Catterton’s past investments include Ganni, Elemis, The Honest Company, Tula and Oddity Tech — the Israel-based parent of Il Makiage and Spoiled Child, which went public in July with a market capitalisation of $2.68 billion. L Catterton invested $29 million in Il Makiage in 2017. In March, the firm took a majority stake in Jean Touitou’s French ready-to-wear brand A.P.C.

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