Beauty Industry Group, a portfolio company of Gauge Capital, has made an investment in International Designs Corporation.
International Designs Corporation (IDC) is a provider of professionally-installed hair extensions and has a network of distributors throughout the US, Canada, Brazil and over 40 countries worldwide. Company owned brand names include Hot Heads and Hair Talk. IDC was founded in 2005 by Richard Schoonover and is headquartered in Hollywood, FL (www.hotheads.com) (www.hairtalkusa.com).
“I have admired the success that Richard has created with the Hot Heads and Hair Talk brands,” said Derrick Porter, CEO of Beauty Industry Group. “We both feel that creating this partnership will allow our companies to further solidify their capacity to source the highest quality hair extensions while improving our ability to meet the increased demand we are seeing in the market.”
Gauge Capital invested in Beauty Industry Group (BIG), a supplier of hair extensions and related beauty products, in June 2016. The company sells its products directly to consumers and through a network of over 50 independent distributors in the US and Canada. Brand names include Babe, Donna Bella Hair, Twisted Fringe, Elixir Cosmetics, and Beauty Depot. The company was founded in 2004 and is headquartered in Salt Lake City (www.beautyindustrygroup.com).
“IDC has two of the most respected brands in the market with Hot Heads and Hair Talk, and we are thrilled to bring the talent and experience that Richard and his team possess into our partnership with BIG,” said Drew Johnson, Co‐Founder and Managing Partner at Gauge Capital.
Gauge Capital invests from $10 million to $40 million in companies that have $5 million to $50 million of EBITDA. Sectors of interest include business and consumer services, healthcare services and food services. The firm will consider both majority and minority investments. Gauge Capital was co-founded in 2013 by Managing Partners Drew Johnson and Tom McKelvey and is based near Dallas in Southlake, TX (www.gaugecapital.com).
© 2017 Private Equity Professional | March 1, 2017
