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Tom Pellereau, the first winner of The Apprentice to secure an equity investment from Lord Sugar, has regained full ownership of his business after buying out Lord Sugar’s 50 per cent stake.
The deal, agreed 14 years after the original investment, returns Styl Pro to 100 per cent founder ownership and marks the end of one of the show’s longest-running business partnerships. Financial terms of the buyout have not been disclosed.
Pellereau founded Styl Pro in 2011 after winning The Apprentice, when Lord Sugar invested £250,000 for a half share in the company. The deal was a landmark moment for the BBC series, which had previously offered winners a salaried role in Lord Sugar’s organisation before shifting to an investment-and-partnership model.
Since its launch, Styl Pro has grown into one of the UK’s fastest-selling electrical beauty-tech brands, known for products such as automated makeup brush cleaners and skincare devices. The company will continue to operate under Pellereau’s leadership, with him remaining founder and chief executive.
Lord Sugar said the timing was right to step away and allow Pellereau to take the business forward independently. “Fourteen years after investing in Tom, I have agreed with Tom’s decision to purchase back my shares and return sole ownership to him,” he said. “When I first met Tom, he was a naïve 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.”
Pellereau described the move as a natural next step in the evolution of the business, while paying tribute to Lord Sugar’s role in its success. “I will always be so grateful for the investment Lord Sugar made, and the potential he saw in me and my inventions,” he said. “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.”
The buyout brings to a close one of The Apprentice’s most high-profile success stories and positions Styl Pro for its next phase of growth as a fully founder-led company.
