Middle-market private equity firm MidOcean Partners is investing in skincare products distributor Image Skincare. The target will continue to be led by founder Janna Ronert, who will retain a stake in Image.
Image, founded in 2003 and based in Palm Beach, Florida, makes moisturizers, eye creams and peels that are used to treat wrinkles and aging skin that are sold through physicians, spas and retailers across 40 countries under the The Max, Vital C and Illuma brands. The Max uses a formula and active ingredients that protect the skin from stress and UV damage and Image claims repairs DNA. The company markets itself to "Age Later."
MidOcean says the deal was a result from looking at potential investments in the space.
Several other buyers have been making acquisitions in the beauty sector. Catterton is taking skin and hair care treatment products Steiner Leisure Ltd. (Naddaq: STNR) private for about $925 million; Carlyle Group (Nasdaq: CG)-backed Vitamin World owner NBTY Inc. is acquiring body wash and moisturizer maker Dr Organic; and Unilever (NYSE: UL) buying skin care treatment company Dermalogica.
Goldman Sachs & Co. (NYSE: GS) and Greenberg Traurig LLP are advising Image. Kirkland & Ellis is representing MidOcean.