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gloProfessional Acquired by Private Equity Firm
Posted: April 2, 2013
Swander Pace Capital, a private equity firm specializing in investments in consumer products companies, announced it has completed the acquisition of Caleel + Hayden Holdings, Inc., d.b.a gloProfessional, from private equity firm North Castle Partners. Terms of the transaction were not disclosed.
The acquisition of gloProfessional marks Swander Pace’s seventh acquisition in the past twelve months and strengthens the firm’s foothold in the beauty and personal care industry. (In summer 2012, the private equity firm was set to purchase the Physicians Formula beauty brand before it was acquired by Markwins.) Swander Pace’s current and prior portfolio of beauty, personal care and OTC health products companies includes Gilchrist & Soames, Insight Pharmaceuticals and Prestige Brands, among its other investments in the broader consumer products space.
“Swander Pace’s reputation and track record with respected brands in the beauty and personal care field is impressive,” said Sean Butler, president of gloProfessional. “Through this partnership, we look forward to tapping their expertise and insight as we collaborate to maximize gloProfessional’s growth.” Butler and Mark Hayden, founder and CEO of Caleel + Hayden Holdings, will continue to lead the company and remain significant minority shareholders.
gloProfessional is a developer and marketer of mineral-based cosmetics under the glominerals brand and premium skin care products under the glotherapeutics brand. glo serves more than 5,000 dermatologists, cosmetic surgeons, estheticians, spas and salons (the professional channel) both domestically and internationally, as well as select specialty retailers. The company recently launched to the same customer base a line of hair care products under the gloessentials brand name. gloProfessional reaches its customers through a proprietary field sales force of over 70 team members, which is one of the largest in the professional channel.
“We’re excited to continue to build our growing beauty and personal care portfolio with such a respected brand,” said Swander Pace managing director Mo Stout. “gloProfessional is a leading, research-driven product of choice in the professional channel and enjoys a strong consumer following. We look forward to partnering with the management team to guide the company toward continued growth and success.”