Key Takeaways:Founded by private equity veteran Derek McDowell in 2006, Boyne held its first close for Fund III, with $355 million in limited partner commitments, on April 30.YZY Fragrances are sold primarily through independent perfume shops, beauty supply stores, and e-tailers in North America, Latin America, and the Caribbean.Boyne plans to work with YZY to expand its presence in major retail chains.Boyne Capital has acquired a majority stake in YZY Fragrances, a 40-year-old company focused on affordable fragrances.WHO: Founded by Yehuda Shechter, YZY designs has been run by the family for three generations, including current CEO Joseph Bouskila. The business formulates, manufactures, and distributes a diverse portfolio of fragrance products under brands such as Territoire, Acqua di Parisis, and Insurrection. The  products are made with perfume oils from leading fragrance houses and are specifically designed to deliver distinctive scent profiles, bottle designs, and brand presentations, appealing to a value-conscious, loyal, and growing customer base in domestic and international markets.Boyne Capital is a Florida-based private equity firm focused on investments in lower middle-market companies. Founded in 2006, Boyne has successfully invested in a broad range of industries, including business services, consumer products, niche manufacturing, healthcare services, financial services, and industrial, infrastructure, and engineering services. Beyond financial resources, Boyne provides industry and operational expertise to its portfolio companies and partners with management to drive both company performance and growth.