Mav Beauty Brands is geared for growth as it has completed the sale of all its assets to Los Angeles-based private equity firm Nexus Capital Management.

The acquisition comes after the Toronto-headquartered personal care product company said it secured an approval from the Ontario Superior Court of Justice to sell the company and its subsidiaries to an affiliate of Nexus Capital Management.

“I am excited to lead Mav Beauty Brands under its new private ownership with Nexus,” said Serge Jureidini, CEO of MAV Beauty Brands.

“The company will leverage its strengthened platform capabilities and focus on growth, accelerating product innovation and building brand awareness for its distinct brand portfolio.”

Nexus VP Kayla Dean Obia said that the private equity firm sees the long-term potential of Mav Beauty Brands, the company behind the Marc Anthony True Professional, Renpure, Cake Beauty and The Mane Choice brands.

“We are excited to embark on the next chapter of the company with a refreshed capital structure and strategic plan designed to renew growth and profitability,” said Obia.

“This plan will enable the company to invest in new product innovation and build on its partnerships with retailers.”