NEW YORK — Private equity firm North Castle Partners, which focuses on personal care firms in the health and wellness space, completed an investment stake in Palladio Beauty Group, a premium color cosmetics and skincare firm.
Terms of the investment were not disclosed.
Palladio chief executive officer and owner Philip Solomon will stay with the firm.
Solomon said, “When we determined it was time to bring in a partner to help with our growth strategy, I immediately thought of North Castle given their industry knowledge, commitment to partnership, and successful track record in beauty and personal care…We share a vision for continuing to grow Palladio, including: bringing more consumers who seek the Palladio brand into the stores of our U.S. distribution partners, acquiring complementary brands, and continuing to expand the Palladio international footprint.”
Lou Marinaccio, managing director at North Castle, said, “Our cumulative experiences in the personal care industry through our successful prior investments in Avalon Organics, Alba Botanicals, and Doctors Dermatologic Formula, combined with our current investments in gloProfessional, Mineral Fusion Natural Brands, and the Red Door Spa, have provided North Castle with a deep knowledge base and network to support the Palladio team in accelerating company growth.”