Babson Capital Management has provided subordinated debt and made an equity co-investment to support Swander Pace Capital’s recent acquisition of Caleel + Hayden, which does business under the name gloProfessional. Babson Capital was the sole provider of mezzanine capital on the transaction.
gloProfessional is a developer and marketer of mineral-based cosmetics and other skin care products. Brand names include “glominerals” and “glotherapeutics”. The company serves over 5,000 dermatologists, cosmetic surgeons, aestheticians, spas, salons, and specialty retailers. gloProfessional is based in Denver (www.gloprofessional.com).
“Swander Pace Capital is delighted to partner with Babson Capital’s Mezzanine & Private Equity Group on the acquisition of gloProfessional, and we look forward to working together again on future transactions,” said Swander Pace Managing Director Mo Stout. “As with several previous portfolio investments, all parties to this transaction benefited from Babson Capital’s experience and expertise in the lower middle market, its highly collaborative approach, and its reliability and responsiveness.”
Babson Capital has $180 billion in assets under management and is a member of the MassMutual Financial Group. The firm has offices in Boston and Springfield, MA, New York, Chicago, Charlotte and Los Angeles (www.BabsonCapital.com).
“Babson Capital is excited about the opportunity to extend our successful partnership with Swander Pace through our participation in the gloProfessional investment,” said Michael Klofas, Managing Director and head of Babson Capital’s Mezzanine & Private Equity Group. “The management team of gloProfessional has built a strong position in a growing market, and we believe Swander Pace, with its reputation and track record in the beauty and personal care categories, is the perfect partner to help grow the gloProfessional brand.”
Swander Pace Capital invests in middle-market consumer products companies including branded and non-branded, manufacturers, marketers, and distributors that sell through a range of retail and institutional channels. The firm generally targets companies that have up to $300 million in revenues. Swander Pace manages over $1 billion in equity capital and has offices in San Francisco, CA and Bedminster, NJ (www.spcap.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-3-13