Main Post Partners made a strategic growth investment in Sugared + Bronzed, the nation’s largest sugaring and sunless tanning destination.
WHO: Sugared + Bronzed was founded in 2010 by Courtney Claghorn and Sam Offit to provide high-quality and efficient hair removal and sunless tanning services at an affordable price point in a luxury setting. The company currently operates 10 locations across Los Angeles, Orange County, New York, and Philadelphia, offering services through an à la carte and membership model, providing flexibility and value for clients.
Main Post Partners is a private equity investment firm focused on investing in proven growth companies across the consumer value chain. Main Post Partners invests in both majority and minority positions primarily in first institutional capital situations where founders, entrepreneurs, and management teams are looking for an experienced partner to help build their companies to full potential. With a “Partnership, not Ownership” approach, Main Post Partners works closely with a network of successful executives to provide operational and strategic support to its management partners.
WHY: Main Post’s investment will be used to support new product development, location expansion, and strategic marketing opportunities to further drive awareness of the brand’s specialized services for hair removal and sunless tanning.
IN THEIR OWN WORDS: “In my early 20’s, I realized that a healthy skincare regimen was directly related to when I felt the most comfortable in my own skin. Much like our client base, I feel my best with tan, smooth skin, but never wanted to spend a fortune on routine beauty services or subject myself to the damaging effects of UV-rays or the risks of waxing. At Sugared + Bronzed, I love that we’re able to provide our clients with services that are affordable, safe, and most importantly, enhance the ability to cultivate self-confidence,” Courtney Claghorn, co-founder and President, said in a statement.
In the same statement Josh McDowell, Partner at Main Post Partners, said, “We have had the pleasure of getting to know Courtney and Sam over the last several years and have been impressed with the strong foundation they’ve built. Sugared + Bronzed is a disruptor in the highly fragmented beauty services space and we are excited to support the team as they continue to grow their base of loyal clients in both existing and new geographic markets.”
“We are thrilled to partner with Main Post. It is incredibly rare to find investors who are dedicated to preserving our company culture and maniacal focus on quality. They immediately understood our vision of investing in our team, training, and products to create unparalleled client experiences in our sector,” said Sam Offit, co-founder and CEO in a statement.
Jeff Mills, Managing Partner at Main Post, said, “Their unique focus on two highly specialized services, supported by consistently strong customer reviews on the quality of the experience have built Sugared + Bronzed into a differentiated brand within the beauty sector that we are excited to partner with.” Aaron Garcia, a principal at Main Post Partners, added “Main Post’s experience with companies in the beauty and hospitality sectors, along with scaling high-culture, multi-unit concepts are well aligned to support the business during this next phase of growth. We are excited to help Courtney and Sam achieve their vision of creating a category-defining brand.”
- Main Post Partners made a strategic growth investment in Sugared + Bronzed.
- Terms of the deal were not disclosed, but this is the first outside investment for the business.
- According to WWD, the business plans to double in the next 18 months, expanding nationally with more retail locations and launching their small product assortment online.
- The business is said to have done more than 1 million services since launching in 2010 and is on track to complete 300,000 services this year.
- Main Post Partners is also invested in Milk Makeup and Not Your Mother’s.
- Piper Jaffray & Co. served as the exclusive financial advisor to Sugared + Bronzed.
- Morrison & Foerster served as the exclusive legal advisor to Main Post Partners.
- Offit Kurman served as the exclusive legal advisor to Sugared + Bronzed.
Photo: Sugared + Bronzed via Facebook