First Aid Beauty, also known as FAB, offers a range of skincare products that include cleansers, exfoliators, moisturizers, serums and masks. FAB products are free of harsh chemicals and known allergens, and address skin concerns such as aging, dryness, redness, eczema, acne and sun protection. The company’s products are distributed through beauty retailer Sephora, as well as other domestic and international beauty retail and ecommerce retailers. The company was founded in 2009 by Lilli Gordon and is based in Newton, MA (www.firstaidbeauty.com).
Steve Berg, Managing Partner at Castanea, and Janet Gurwitch, Operating Partner at Castanea and former Founder and CEO of cosmetics company Laura Mercier, will join First Aid Beauty’s board of directors. “Lilli and the team have developed a differentiated brand in the prestige category with a compelling range of products,” said Ms. Gurwitch. “FAB has great potential, and we are thrilled to be part of the next stage of their growth.”
Castanea Partners invests from $15 million to $75 million in companies that operate in the consumer brands, marketing services, and information services sectors. Castanea participates in leveraged buyouts, growth and acquisition equity investments, and operationally challenging situations. The firm is currently investing from its fourth fund, a $600 million fund that targets companies with enterprise values up to $250 million. Castanea is headquartered near Boston in Newton, MA (www.castaneapartners.com).
“First Aid Beauty is uniquely positioned in the personal care and beauty industry, and is an exciting opportunity for Castanea,” said Mr. Berg. “We very much look forward to working closely with Lilli and the team to support the company’s continuing growth.”
“Having personally grown FAB every step of the way, I could not imagine a better partner than Castanea,” said Ms. Gordon. “They embrace our brand philosophy and have a deep understanding of the sector and a proven track record.”
Financo, an investment bank based in New York (www.financo.com), served as the exclusive financial advisor to First Aid Beauty.
© 2015 PEPD • Private Equity’s Leading News Magazine • 7-27-15