Orienta Capital Partners, Armònia SGR, and Square Capital Club are set to pursue a buy-and-build strategy for newly established beauty platform NewTrendUp, Orienta Founding Partner and President Mario Gardini told Mergermarket.

NewTrendUp was created through the merger of three Italian beauty players, cosmetics- industry contract manufacturers Trendcolor, Inunup, and New Cosmesy, as reported by Il Sole 24 Ore earlier this week.

The investors have already identified a pipeline of further acquisition opportunities in this high-growth sector, and are in preliminary contact with four to five potential targets, Gardini said.

The newly formed group, which projects more than EUR 60m revenue for 2025, will focus future deals on filling gaps in its product portfolio, he said. It currently specialises in powders, starches, emulsions, liquid lipsticks, and mascara.

The group is targeting mid-sized Italian cosmetic manufacturers with a premium market positioning, he said, adding, “We are only interested in companies operating in the premium beauty and cosmetics space; mass-market brands are not part of this project.”

NewTrendUp is also looking at opportunities in the fragrance segment to round out its offering, he added.

The group will fund M&A activity with a mix of equity and debt, supported by its “solid financial shape”, Gardini said. Potential targets will be evaluated on a case-by-case basis, he said, without specifying likely deal sizes.

Orienta’s entry into the beauty market dates back to its acquisition of Trendcolor in 2022, Gardini said. “Since then, we have worked extensively to expand the customer base and prepare the company for this current strategic leap,” he added.

Orienta Capital Partners was lead investor in the NewTrendUp transaction and holds the majority interest in the new platform, he said. The financial terms of the deal remain undisclosed.

The aim is to establish a diversified group of complementary companies in the premium beauty sector, he said, adding that while the group is “strongly acquisitive”, there is significant organic work to be done in the short term.

“Our immediate focus is the fine-tuning of this integration, streamlining production processes and expanding our client base,” Gardini said, adding, “the objective is to strengthen the value proposition, integrate synergistic businesses, and build a hub of excellence within the beauty economy.”