TCP acquires significant stake in NEST Fragrances

Tengram Capital Partners (TCP), a Connecticut-based private equity firm, has acquired a significant stake in US-based fragrance manufacturer NEST Fragrances, for an undisclosed amount.

With the new acquisition, NEST founder Laura Slatkin will continue to lead the company as chief executive officer and form an executive leadership team, which will work under her leadership and guidance to move the company towards profitable growth.

TCP co-founder and managing partner Matthew Eby said the firm saw enormous growth potential for NEST Fragrances and it is happy about the new partnership.

"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," Eby added.

Founded in 2005, NEST is a home, fine fragrance and personal care products company, which initially focused on private-label projects and licenses for beauty, fashion and lifestyle brands.

The firm has launched its NEST Fragrances home collection in 2008 at Neiman Marcus and Bergdorf Goodman.

In July 2012, the company introduced a new range of personal care products, including body wash and body cream, and in September 2012 it is planning to unveil NEST Fine Fragrances, a collection of three fine fragrances in eau de parfum and body cream.