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Equity firm Star Avenue Capital, LLC announced an investment in Macadamia Natural Oil, the premium, professional hair care brand. Star Avenue will work with Macadamia Natural Oil CEO and founder John Fasan to support the company’s rapid growth and to help build Macadamia into a leader in the global hair care industry. The terms of the transaction were not disclosed.
Star Avenue is a consumer growth equity vehicle formed in partnership with private equity firm Irving Place Capital (IPC) and entertainment and sports agency Creative Artists Agency (CAA).
Fasan commented, “Star Avenue shares our vision for the Macadamia brand and brings unique resources, capabilities and insight that would otherwise not be available to the company. Star Avenue has access to CAA’s extensive network of relationships and resources as well as the agency’s unique insight into popular culture, and to IPC’s relevant investment experience in the consumer and retail sectors, which are valuable assets for high-growth consumer brands such as Macadamia. These additional resources make Star Avenue the right partner for Macadamia—one that can help me transform my business.”
“Star Avenue is thrilled to partner with a dynamic entrepreneur like John,” said Craig Elson, managing director of Star Avenue Capital. “He has built a global business in a very short period of time. We look forward to working with him to continue growing the company’s international business while applying our resources to bolster Macadamia’s U.S. presence.”