Apprentice winner buys out Lord Sugar to take full ownership of beauty tech firm

Apprentice winner and Stylpro founder Tom Pellereau has bought out Lord Alan Sugar and taken full ownership of his business 14 years after winning investment to start up his electrical beauty firm.

Mr Pellereau – the first Apprentice winner to secure a cash investment and business partnership in the popular TV series – has bought Lord Sugar’s 50% share in Stylpro for an undisclosed sum.

The deal struck in 2011 saw Lord Sugar invest £250,000 for a 50% stake in the firm, marking a shift from the earlier format where Apprentice winners secured a £100,000-a-year job in Lord Sugar’s business.

While the pair have not revealed the exact price paid for the buyout, Mr Pellereau said it was a “significant return on Lord Sugar’s investment”.

Lord Sugar said: “Fourteen years after investing in Tom, I have agreed with Tom’s decision to purchase back my shares and return sole ownership to him.

“When I first met Tom, he was a naive inventor with ideas and drive, but he desperately needed my business help.

“He has gone on to build one of the UK’s fastest-selling electrical beauty-tech brands.

“It’s now the right time to part ways and allow Tom and his team to take the company to new heights.”

Mr Pellereau will continue as chief executive of Stylpro following the buyout.

He said: “I will always be so grateful for the investment Lord Sugar made, and the potential he saw in me and my inventions.

“His time, knowledge and guidance have been invaluable.

“While now is the right time to regain full ownership of my business, I look back on the amazing journey we’ve taken together over the last 14 years with deep gratitude and happy memories.”

Stylpro specialises in electrical beauty tech, including LED face masks and makeup brush cleaners, with its ranges stocked in retailers across the UK, Europe, US and Australia.