Private equity firm TPG is moving deeper into beauty with a deal for a minority stake in skin-care brand Rodan & Fields.

TPG’s previous beauty investments (made through TPG Growth) include E.l.f. Cosmetics, which the firm took public in 2016, and Beautycounter, another direct seller.

TPG Capital said it took a minority stake in Rodan & Fields Thursday. Terms of the deal were not disclosed, but Rodan & Fields did $1.5 billion in sales in 2017, up from $1.15 billion in sales for the prior-year period.

The business, which sells through a network of more than 200,000 independent consultants, was founded by the same dermatologists that started Proactiv — Katie Rodan and Kathy Fields. In April, Rodan & Fields chief executive officer Diane Dietz said the company projected double-digit growth for the next several years. Then, she described the product offering as one “that truly has transformative results,” she said. “The key is not just getting a lot of trial for a brand, it’s building loyalty and building repeat, and we have done that.”

Some of the brand’s launches, like Lash Boost and Active Hydration Serum, have become key business drivers in their own rights. Lash Boost did more than $200 million in sales the first year it was launched, and Active Hydration Serum is projected to do $100 million in sales for year one.

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