Tengram Capital Partners, a Connecticut-based private equity firm, has acquired a significant stake in NEST Fragrances, a designer and manufacturer of luxury home fragrances.
Laura Slatkin, NEST Founder, will continue to lead the Company as Chief Executive Officer and form an executive leadership team that will, under her leadership and guidance, drive the Company’s profitable growth.
“We see enormous growth potential for NEST Fragrances and we are very excited about this new partnership,” says Matthew Eby, Co-Founder and Managing Partner of TCP. “In addition to her long-standing reputation in the industry, we have tremendous respect for what Laura has been able to accomplish with the NEST brand in a relatively short period of time; we are very much looking forward to working with her and her talented team to drive the brand’s continued expansion into new product categories and international markets.”
Laura Slatkin founded NEST in 2005 after Slatkin & Co, the home fragrance company she co-founded and helped build into a premier luxury brand with her husband, Harry Slatkin, was acquired by Limited Brands, Inc. NEST initially focused on private-label projects and licenses for some of the world’s most prestigious beauty, fashion and lifestyle brands before launching the NEST Fragrances home collection in 2008 at Neiman Marcus and Bergdorf Goodman. In July, the Company launched a new line of personal care products, including body wash and body cream, and this month introduces NEST Fine Fragrances, a collection of three fine fragrances in eau de parfum and body cream.
“I am delighted that TCP shares our vision to grow and evolve NEST Fragrances into a world-class luxury lifestyle beauty brand,” says Slatkin. “TCP has a proven track record of investing in strong, iconic consumer brands to unlock their true potential and their partnership will be instrumental as we expand our product portfolio and bring our exceptional luxury products to more consumers in the United States and abroad.”
TCP invests in and partners with companies across the consumer sector. The firm invests in strong brands and management teams and acts as a catalyst to drive the growth of the companies in which it invests. TCP’s principles have significant consumer expertise and focus on certain segments, including companies operating in the following industries: apparel, sporting goods, consumer electronics, home furnishings, health and beauty, spirits, and food and beverage.
“This is a tremendously exciting time for NEST Fragrances. With TCP on board along with our highly experienced and extraordinarily talented and growing executive leadership team and staff, we are well-positioned for strategic and meaningful growth as we continue to solidify our standing as a category leader in the luxury consumer goods industry,” says Slatkin.
“The combination of NEST Fragrances with TCP is very exciting,” says William Susman, CEO of Threadstone Advisors. “Laura Slatkin and her team have established NEST as a successful and growing company with excellent product and distribution. TCP’s commitment to building brands is unparalleled and their contribution to NEST will be invaluable. The partnership between the two firms should prove very successful.” Susman assisted NEST in its negotiations with TCP.
