Terms of the transaction were not disclosed, by TPG Growth, which is the middle market and growth equity investment platform of TPG, the global private investment firm.
“Through its differentiated approach, e.l.f.’s offering has resonated among a key segment of the cosmetics market,” said John Bailey, principal at TPG Growth. “We believe that many opportunities lie ahead, and are happy to partner with e.l.f. to build the company and accelerate its already impressive growth trajectory.”
“Our team is proud of what we have built and are extremely excited to have a value-added partner like TPG Growth to help us scale the business,” said Joey Shamah, co-founder of e.l.f. Cosmetics. “Their track record in building consumer businesses, international distribution relationships, e-commerce capabilities, global operational resources and access to incremental talent make them an ideally suited partner for our Company. We are very excited to build upon our strong foundation and deliver even more value to our consumers and retail partners.”
“The growth of e.l.f. Cosmetics has been phenomenal, and TSG is fortunate to have been partnered with such an exciting company,” said Jennifer Baxter Moser, managing director at TSG Consumer Partners. “We look forward to watching the brand continue to grow and develop in the future,” she added.