Article: The best good hair day - ever; STRAIGHTENING IRONS TURN ENTREPRENEUR'S [pounds sterling]15,000 INTO A [pounds sterling]120M BUSINESS.

Byline: HELIA EBRAHIMI

THEY are the must-have grooming accessory for girls and celebrities such as Gwyneth Paltrow, Jennifer Aniston and Victoria Beckham.

And now Martin Penny, the entrepreneur whose [pounds sterling]100 GHD ceramic hair straighteners have become a runaway success, will pocket a fortune for the company he set up five years ago after investing just [pounds sterling]15,000.

Penny, 53, has just signed a deal with Lloyds Development Capital, the private equity arm of Lloyds TSB, to buy out cofounders Gary Douglas and Robert Powls for [pounds sterling]55 million, valuing the business at [pounds sterling]120 million.

The son ...

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