Star Avenue Capital pumps investment into hair care brand Macadamia

Macadamia Natural Oil, a US-based hair care products manufacturer, has announced that it has secured an undisclosed investment from Star Avenue Capital, a US-based growth equity firm.

Macadamia said its CEO and founder John Fasan and Star Avenue will jointly work to support the company’s growth and assist in making it as a leader in the global hair care industry.

Macadamia, founded in 2009, uses nature-based ingredients, such as macadamia and argan oils to create professional hair care products, which aim to heal, revitalise, and control hair problems.

Fasan said Star Avenue shares the company’s vision for the Macadamia brand and brings unique resources, capabilities and insight that would not have been otherwise 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," added Fasan.

The transaction was carried out under Roth Capital Partners guidance, which acted as the exclusive financial advisor, and Buchalter Nemer, which acted as counsel for Macadamia, while Bank of America Merrill Lynch’s Global Commercial Banking Group provided working capital financing.