FIRELIGHT CAPITAL PARTNERS ANNOUNCES ACQUISITION OF FROMM INTERNATIONAL
Its First Platform Investment in Beauty; Martin Okner Appointed CEO
NEW YORK, Jan. 3, 2024 /PRNewswire/ -- Firelight Capital Partners, an operationally-oriented private equity firm investing in lower middle market consumer brands and DTC concepts, is pleased to announce its first platform investment in beauty with the acquisition of Fromm International ("Fromm") from the Simon-Johnson family, who have owned the business since founding it in 1907. Fromm is well respected in the beauty industry, known for its branded product lines of innovative tools, accessories and everyday beauty essentials for both professionals and consumers. With the acquisition of Fromm, its fourth platform investment, Firelight extends its unique investment model, bringing together world-class industry talent, digital acumen and channel expertise, into the dynamic beauty and wellness sector.
With thousands of points of distribution throughout North America and Western Europe, including all Ulta Beauty stores, Fromm has established itself as a key player in the beauty industry, delivering high-quality beauty and grooming tools, accessories and everyday beauty essentials that serve both the professional and the consumer under brands such as Fromm Pro, The Hair Edit, and Diane. Fromm is also one of the nation's largest suppliers of education kits to beauty schools throughout North America. The acquisition will further solidify the company's position in the beauty market and accelerate the growth of its brands. 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."
With 35 years of dedicated service and leadership, Kevin Barrett, the current President of Fromm, will retain his title, continue to shape the Company's strategy and work on special projects but transition leadership of day-to-day operations to Martin L. Okner, who was appointed CEO by Firelight Capital Partners effective January 2nd. Mr. Barrett's contributions to Fromm International have been invaluable, and his continued involvement is met with sincere appreciation by Firelight Capital Partners for his commitment to excellence. "I am excited to see how the new ownership and leadership will build on Fromm's already impressive history of growth," commented Mr. Barrett.
Martin L. Okner, CEO, is a seasoned beauty executive with a proven track record of leadership in the beauty and consumer packaged goods sectors. Most recently as President of dpHUE and with previous experience at Fortune 500 companies such as Revlon and Cadbury, Mr. Okner brings a wealth of experience and a vision for innovation that align with Firelight Capital Partners' strategic goals for Fromm. Martin L. Okner expressed his excitement about his new role, stating, "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 & 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." The principals of Firelight Capital Partners have extensive experience in beauty and premium brands. Pat Collins was formerly a Partner of JH Partners, the middle market private equity firm behind Bare Escentuals and Jurlique, and Rick Perkal was a Senior Managing Director of Irving Place Capital, where the firm successfully scaled and sold the J.Brand and Stuart Weitzman brands to strategic buyers.
For media inquiries or additional information, please contact: Lauren Donner, Tractenberg & Co.; [email protected]
About Firelight Capital Partners
Firelight Capital Partners is an operationally-oriented private equity platform investing in lower middle market consumer brands and DTC concepts founded by Rick Perkal, previously a Senior Managing Director at Irving Place Capital, and Pat Collins, previously a Partner at JH Partners.
Firelight's principals have deployed over $750 million of capital in over fifteen consumer growth companies. The firm's current portfolio companies include Fromm International, Hobo Bags and Chalk Couture.
Firelight's value-add partnership model focuses on digital acceleration, channel expansion and brand strategy. The firm has a unique investment partnership with award-winning brand strategy agency, Yard NYC, and counts several former Fortune 500 CEOs and CMOs as Senior Advisors. For more information, please visit www.firelightcapital.com.
About Fromm International
Founded in 1907, Fromm International is a well-respected company in the beauty industry, recognized for its commitment to quality and innovation. The company offers a diverse range of beauty and grooming products that address the needs of professionals and consumers. For more information, visit www.frommbeauty.com.
SOURCE Firelight Capital Partners
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