Transom Capital Group has carved out the professional liquids division of Conair Corporation and renamed the new company Beauty Quest Group.
Beauty Quest is a manufacturer and marketer of branded and private label hair care, color and styling products that are sold to professional salons and specialty retailers. Company-owned brand names include Aquage, RUSK and One ‘n Only.
Beauty Quest also provides contract manufacturing services to other marketers of hair care and other topical products (www.aquage.com) (www.rusk1.com) (www.one-n-only.com).
Beauty Quest is now led by CEO John Costanza, the former vice president and general manager of the global salon professional division of Conair. “I’m proud to be leading the team of this great company we now call Beauty Quest Group, a name that blends our legacy of success with a quest to take the company to another level,” said Mr. Costanza. “We’re excited to work with Transom Capital and put our entire team on a new path to prosperity.”
“We’re thrilled to add Beauty Quest Group to the Transom portfolio,” said James Oh, a partner at Transom. “The company’s impressive leadership, portfolio of brands and comprehensive manufacturing capabilities provide a unique value proposition to its customers in an industry with strong tailwinds. We look forward to taking the business to the next phase of growth and providing strategic focus as a standalone company.”
Transom invests in buyouts and turnarounds of companies with EBITDAs from $0 (special situations) to $20 million. In January 2018, the firm held a final closing of Transom Capital Fund III LP with $300 million of capital commitments. The new fund reached its hard-cap in just two months of fundraising and was oversubscribed from its initial $250 million target and $300 million hard-cap. Transom is headquartered near Los Angeles in El Segundo, CA (www.transomcapital.com).
Privately held Conair Corporation sells small appliances, personal care products, and health and beauty products for both professionals and consumers. The company was founded in 1959 and is headquartered in Stamford, CT (www.conair.com).
Cerberus Business Finance provided the financing for this acquisition. Sawaya Partners was the financial advisor to Conair Corporation.
© 2019 Private Equity Professional | July 10, 2019
