Praesidian Capital Exits $14 Million Investment in JD Beauty Co., LLC
NEW YORK – April 2, 2019 – Praesidian Capital, a leading provider of senior and subordinated capital for small and mid-sized businesses, announced today that it has successfully exited its $14 million investment in JD Beauty Co., LLC (“JD Beauty” or the “Company”). Praesidian’s exit was in concert with the sale of the business to Goody Products, Inc. (“Goody”).
JD Beauty is one of the leading designers and marketers of branded, professional quality hair brushes and beauty care accessories. The Company’s flagship product, the Wet Brush, is the number one hairbrush brand in the professional channel and the fastest growing hairbrush brand in the consumer retail channel. The acquirer, Goody, one of the largest players in the hair accessories and styling tools industry, is an ACON investments portfolio company.
Praesidian’s initial investment supported Topspin’s acquisition of JD Beauty in 2015, and Praesidian led subsequent investments in 2017 and 2018 to continue to support the Company’s strategic growth.
“Praesidian was a great growth partner for JD Beauty. Their support and willingness to re-invest in the business enabled us to execute our acquisition plan and achieve rapid growth.” stated Jeff Davidson, JD Beauty CEO.
Leigh Randall, Managing Partner at Topspin Partners, noted: “We have a great working relationship with Praesidian. Our partnership in the JD Beauty investment allowed everyone to realize significant value. Praesidian’s dedication has been an invaluable component of the JD Beauty success story.”
“Our collaboration with Topspin and JD Beauty has shown what can happen when the right resources come together effectively,” stated Glenn Harrison, Praesidian Capital Partner. “We have enjoyed being part of JD’s recent expansion period and wish the Company continued success.”
About JD Beauty
JD Beauty Co., LLC is one of the leading marketers and manufacturers of professional beauty products. Based in New York and launched in 1977, JD Beauty has launched some of the industry’s most recognizable and innovative brands and products such as WetBrush, Luxor Pro, Lure, TS-2 and more. These brands promise quality and innovation to provide beautiful and professional results to professionals and consumers alike.
About Praesidian Capital
Praesidian Capital is an innovative private investment firm focused on providing senior and subordinated debt along with growth capital to private lower middle market businesses in the United States, United Kingdom, Germany, and selectively in Northern Europe. Praesidian invests in established small and mid-sized companies, often in connection with management buyouts, recapitalizations, and refinancings. Based in New York with an office in London, Praesidian manages nearly $1 billion in committed capital. For more information, visit www.praesidian.com.
About Topspin Partners
Topspin Partners is a suburban NY-based private equity fund that makes investments in profitable and established lower middle-market consumer businesses. The firm invests across a number of sub-verticals within consumer, including health & wellness, fitness, personal care/beauty, food/beverage, household goods, apparel, niche retail and juvenile products. The Topspin team has considerable operational expertise and collaborates with founder-owners and management teams to build businesses of varying stages and sizes. Further information on Topspin can be found at www.topspinpartners.com.
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