HIG Capital has sold Spanish perfume chain Bodybell to Douglas, the German beauty retailer backed by CVC Capital Partners.
Bodybell operates more than 200 stores in Spain, as well as two online shops and a logistics platform.
The company was backed by Alantra Private Equity (then known as N+1 Mercapital) until 2015 when a group of lenders including HIG, operating through its Bayside unit, took control of the business.
Following the restructuring HIG inserted a new management team, rebranded the company and made store portfolio adjustments.
Douglas has 1,700 stores across 19 European countries and sales of €2.7bn.
CVC bought the company from Advent International in June 2015.