Bain Capital-backed Classys Inc. has acquired JL Health Participacoes S.A., Brazil’s largest aesthetic device retailer, for 18.27bn won ($13m), strengthening its footprint in one of its fastest-growing international markets, according to KED Global.

The all-cash transaction gives Classys a 77.5% stake in JL Health, following the divestment of the company’s non-beauty operations. The deal also includes JL Health’s two subsidiaries and a call option to acquire the remaining 22.5% stake.

The acquisition marks a key step in Classys’s strategy to establish a direct sales network across South America. The Seoul-based company, founded in 2007, holds more than 50% market share in South Korea’s high-intensity focused ultrasound (HIFU) beauty device segment through its flagship product, the Shurink Universe.

Classys is 54.16% owned by Bain Capital, which acquired the business in 2022 for 670bn won, the private equity firm’s third major investment in Korea’s beauty sector. Bain later sold a 6% stake via a block trade, following a previously unsuccessful divestment attempt that had attracted interest from global private equity firms including KKR, Carlyle Group, and Hillhouse Capital.

Under Bain Capital’s ownership, Classys has continued to benefit from the global rise of Korean beauty and skincare trends. In the first half of 2025, the company reported operating profit of 82.2bn won, up from 57.7bn won a year earlier, while revenue climbed to 160.4bn won from 109.1bn won.

The acquisition of JL Health further extends Classys’s international reach and underlines Bain Capital’s continued backing of high-growth beauty technology platforms, following years of global momentum in the K-beauty and aesthetics markets.

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