Private equity firm San Francisco Equity Partners (SFEP) has acquired a majority stake in Jane Iredale. SFEP says it will partner with founder Jane Iredale and her management team as the company embarks on its next phase of growth. Terms of the deal were not disclosed, but according to WWD, industry sources estimate the brand has about $70 million in net sales and is growing largely due to e-commerce operations.

Jane Iredale was decades ahead of the clean beauty trend and is viewed as a leader in wellness and clean beauty. Since the brand’s inception nearly 25 years ago, Jane Iredale has developed products with a commitment to using only clean ingredients, including high-quality minerals, organic botanicals, and other natural ingredients that benefit the skin.

Led by its founder and CEO Jane Iredale, Jane Iredale is the leading makeup brand in the US professional channel, including licensed aestheticians, dermatologists, plastic surgeons, professional spas and salons, and the company’s products are also sold online, in specialty retail stores, and in over 50 countries globally.

“As we have worked with Jane and her team, we have developed a strong appreciation for the quality and authenticity of the Jane Iredale brand, the strength of the company and its Great Barrington roots,” said Scott Potter, managing partner of SFEP. “This is a brand with uniquely strong products and unsurpassed consumer loyalty. We are thrilled to be chosen by Jane to help guide the brand to new heights.”

“Starting with a modest idea—to create a makeup product that was good for the skin—it’s been an amazing 25-year journey to build one of the world’s leading cosmetics brands. To take the company to the next level, I knew we needed a partner with a proven track record in beauty who would be a good steward to our brand and company. Based on their experience working with leading authentic natural brands, SFEP is the ideal partner to guide us through the next phase,” said Iredale.