Maritime Beauty Supply sold to Founders East

After 56 years in business, Maritime Beauty Supply founder Maurice Doucet is selling.

Founders East Capital Partners announced on Monday it has acquired the company, which has 17 locations and more than 150 employees in Nova Scotia, New Brunswick, and Prince Edward Island.

“We are thrilled to join forces with Founders East. I personally selected Founders East to succeed ownership of Maritime Beauty,” Doucet said in a release. “I wanted to ensure that our team and our valued customers across Atlantic Canada continue to benefit from the culture and values that support our mutual success.”

A sales price for the acquisition was not announced. Maritime Beauty Supply, which has its headquarters in Halifax, and was founded in 1966, serves the salon and spa industries.

“We are thankful that Maurice has placed his trust in Founders East to continue to grow the business and build on his legacy,” said managing partner Michael Crouse. “Maritime Beauty’s management team will continue to lead and operate the business, and we are very excited to partner with them.”

Founders East Capital Partners is an investment business backed by four Atlantic Canadian families of entrepreneurs.