Swander Pace completes acquisition of cosmetics brand gloProfessional from North Castle Partners

Private equity firm North Castle Partners has completed the sale of Caleel + Hayden brand d.b.a gloProfessional to private equity firm Swander Pace Capital for an undisclosed amount.

gloProfessional is a developer and marketer of mineral-based cosmetics under the glominerals brand and premium skin care under the glotherapeutics brand.

The products are offered through 5,000 dermatologists, cosmetic surgeons, aestheticians, spas and salons both domestically and internationally, as well as through selected specialty retailers.

Apart from this, gloProfessional is marketed to customers through a proprietary field sales force of over 65 team members.

The brand recently launched to the same customer base a line of hair care products under the gloessentials brand name.

North Castle managing director Jon Canarick said with the investment in glo, the company achieved success and represents another strong partnership within the personal care sector.

"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 realizes virtually all revenue from its suite of glo brands. We believe the company is well positioned for further growth," Canarick added.

gloProfessional founder and CEO Mark Hayden and its president Sean Butler will continue to lead the company and will remain as a significant minority shareholders.

The transaction was advised by Wells Fargo Securities as an exclusive financial advisor to gloProfessional and Morrison Cohen served as legal counsel to gloProfessional and Kirkland & Ellis served as legal counsel to Swander Pace Capital.