Nexus Capital Management was founded in 2018 as a private equity firm focused on middle-market consumer investments. The firm was established to capitalize on opportunities in the consumer products sector, particularly among established brands that had underperformed under previous ownership or could benefit from operational improvements.
The firm's most significant transaction to date came in late 2023 with the acquisition of Dollar Shave Club from Unilever. Dollar Shave Club had been acquired by Unilever in 2016 for approximately $1 billion, making it one of the largest acquisitions of a direct-to-consumer startup at the time. However, Dollar Shave Club struggled to grow under Unilever's ownership, facing intensifying competition from Gillette (owned by Procter and Gamble), Harry's, and other brands.
Unilever wrote down the value of Dollar Shave Club significantly in the years following the acquisition, reflecting the brand's underperformance. In 2023, Unilever agreed to sell Dollar Shave Club to Nexus Capital Management for an undisclosed price, widely reported to be a fraction of the original $1 billion acquisition price.
Nexus Capital's acquisition of Dollar Shave Club represented an opportunity to revitalize the brand by refocusing it on its core direct-to-consumer subscription model and reducing the overhead costs associated with operating as part of a large consumer goods conglomerate.
Under Nexus Capital ownership, Dollar Shave Club has worked to rebuild its subscriber base and refocus on its core value proposition of affordable, convenient razor and grooming product delivery.