Interestingly, many private equity firms have their eyes on skin care products and personal products for beauty.
Avon Ladies, for instance, has sold its North American business to private equity firm Cerberus Capital Management. They are selling 80.1% of their US and Canadian divisions to Cerberus, which is known for its turnaround expertise.
Similarly, MidOcean Partners with CEO Ted Virtue has announced that it has made a significant investment in IMAGE Skincare. Founded in 2003, IMAGE is a clinical skincare brand that is only sold in spas, through physicians and through other professional channels.
They will continue to be led by Janna Ronert, their founder and CEO and Dr. Marc Ronert, their president and medical director. They will continue to have a significant ownership of the company. As Janna Ronert said, “We are excited for this new phase in our journey to become the leading global professional skincare brand. We will greatly benefit from the combined resources of IMAGE Skincare and MidOcean, and we look forward to expanding our business together.”
Jonathan Marlow, Principal at MidOcean said, “MidOcean has been evaluating opportunities in the beauty space and believes that IMAGE Skincare is a high quality business and brand whose rapid global expansion can be accelerated.
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