Investment firm Firelight Capital Partners has acquired beauty tool brand Fromm International.
The private equity company said the acquisition will further solidify the business' position in the beauty market, and accelerate the growth of its other brands including Chalk Couture.
"We see tremendous potential in Fromm's brands and are excited to build upon its more than 100-year legacy of success,” said Pat Collins, Managing Partner of Firelight Capital Partners.
Specialising in grooming tools, accessories and education kits for beauty schools, Fromm International was founded by the Simon-Johnson family in 1907.
The brand's current owners, Julie Simon Johnson and Kevin Johnson, will continue to own a portion of the company.
Fromm President Kevin Barrett will also remain in the position and work alongside Martin Okner, the newly appointed CEO of Firelight Capital Partners.
This will include developing the company's strategy and special projects, with Okner taking over the day-to-day running of the business.
"We are extremely proud of what the Fromm team has accomplished and are excited to see what the future holds,” Johnson added.
“We believe the organisation will continue to thrive and grow under the new leadership."
Firelight Capital Partners said it has extensive experience in beauty and premium brands.
Collins was formerly a partner at JH Partners, the middle market private equity firm behind Bare Escentuals and Jurlique.
“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,” added Rick Perkal, CEO and Managing Partner of Firelight Capital.
