West Lane Capital Partners LLC ("West Lane"), a California based private equity firm, in partnership with J.P. Morgan Asset Management's Private Equity Group has acquired a majority interest in International Hair and Beauty Systems LLC DBA Simply Organic Beauty ("Simply Organic" or the "Company"). Scott Mitchell, the Company's founder, remains a significant shareholder in the Company and will continue to serve as Chief Executive Officer of the business and a member of its Board of Directors.
Simply Organic, based in Palm Harbor, Florida, is a leading developer and provider of luxury, professional-only, organic & clean beauty products. The Company has built a dedicated community of professional beauty customers over the last twenty-years through maintaining a strong focus on the health, wellness, success, and continued education of the professional beauty artisan (www.SimplyOrganicBeauty.com).
Simply Organic's most recent success in its continually innovative, professional-centric approach to the beauty industry has been the launch of "Holistic Hair Tribe" (www.HolisticHairTribe.com), its unique P2C (professional to consumer) beauty referral platform. The network enables salons to sell product directly from Simply Organic's broad catalog of items while having these specialized luxury and clean beauty products delivered directly to their client's homes. This unique platform has activated the Company's large and passionate base of salon professionals as an extension of its sales force while creating an expansive network of trusted influencers.
Simply Organic plans to continue to execute and expand on its current strategy. Mitchell said, "We could not have selected a more accretive growth partner in West Lane and the opportunity to work with other beauty brands within West Lane's portfolio including Blossom Beauty (www.BlossomBeauty.com) and the BodySpa Group (www.BodySpaSalons.com) represents an exciting and promising opportunity for partnership and growth."
Nick Sternberg, Managing Partner of West Lane, added: "We are very excited to partner with Scott and the entire Simply Organic team to continue growing the Company's platform into a larger, more comprehensive, and global ecosystem of brands, enthusiastic beauty professionals, and innovative technologies focusing on the ongoing success of independent beauty professionals and salons."
Simply Organic was represented by Capstone Partners in the transaction. Terms of the transaction were not disclosed.
West Lane Capital Partners, LLC based in Los Angeles, CA is a private investment firm that partners with entrepreneurs and management teams to invest in lower middle-market companies. In addition to providing capital, West Lane are actively engaged partners across the strategy, operations, and finance functions within its portfolio businesses.
West Lane Capital Partners LLC
Nick Sternberg – Managing Partner
Michael Wentz – Senior Associate
SOURCE West Lane Capital Partners