Private equity firm North Castle Partners has completed the sale of Caleel + Hayden Holdings, dba gloProfessional.
The terms of the transaction have not been disclosed.
gloProfessional is a developer and marketer of mineral-based cosmetics under the glominerals brand and premium skin care under the glotherapeutics brand. glo serves over 5,000 dermatologists, cosmetic surgeons, aestheticians, spas and salons both domestically and internationally, as well as select specialty retailers. In addition, 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 65 team members, which is one of the largest in the professional channel.
"Our investment in glo was a successful exit for North Castle and represents another strong partnership within the personal care sector," says North Castle managing director Jon Canarick. "During North Castle’s ownership, glo has been transformed from a distributor with only half of its sales being generated from proprietary brands to a company that realises virtually all revenue from its suite of glo brands. We believe the company is well positioned for further growth."
North Castle has sold gloProfessional to private equity firm Swander Pace Capital and its affiliates and the company was advised by Wells Fargo Securities. Mark Hayden, founder and chief executive, and Sean Butler, president, will continue to lead the company and remain significant minority shareholders.
Hayden says: "North Castle has been a great partner, and at the same time I’m excited about working with Swander Pace who brings fresh ideas and resources to the company as we continue to expand."
