Firelight Capital Partners makes its first investment in beauty with the acquisition of Fromm International from the Simon-Johnson family, who have owned the business since founding it in 1907.
WHO: Fromm International was founded by the Simon-Johnson family in 1907, and sells professional tools and accessories as well as education kits for beauty schools. The company has thousands of points of distribution throughout North America and Western Europe, including all Ulta Beauty stores.
Firelight Capital Partners is an operationally oriented private equity firm investing in lower middle-market consumer brands and DTC concepts. The principals of Firelight Capital Partners have extensive experience in beauty and premium brands. Firelight's principals have deployed over $750 million of capital in over 15 consumer growth companies. The firm's current portfolio includes Fromm International, Hobo Bags, and Chalk Couture.
WHY: The acquisition will further solidify the Firelight Capital Partners position in the beauty market and accelerate the growth of its brands.
IN THEIR OWN WORDS: According to Pat Collins, Managing Partner of Firelight Capital Partners, "We see tremendous potential in Fromm's brands and are excited to build upon its more than 100-year legacy of success." Fromm's current owners, Julie Simon Johnson and Kevin Johnson, who will continue to own a portion of the company, added, "We are extremely proud of what the Fromm team has accomplished and are excited to see what the future holds. We believe the organization will continue to thrive and grow under the new leadership."
Martin L. Okner, CEO of Fromm, said, "I am honored to lead Fromm into this new chapter. With the company's strong foundation and support of Firelight Capital Partners, we will continue to deliver exceptional products and services to our customers and will continue to realize new opportunities for growth and expansion through retail distribution and acquisitions."
According to Rick Perkal, CEO and Managing Partner of Firelight Capital Partners, "We are thrilled to welcome Fromm into the Firelight Capital Partners family. This acquisition deepens our commitment to investing in consumer businesses with strong growth potential, and we believe that under the leadership of Martin L. Okner, Fromm will continue to thrive and innovate in the beauty industry."
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