01.03.24
Firelight Capital Partners, an operationally oriented private equity firm investing in lower-middle market consumer brands and DTC concepts, has announced its first platform investment in beauty with the acquisition of Fromm International from the Simon-Johnson family, who have owned the business since founding it in 1907.
Fromm is known for its branded product lines of innovative tools, accessories and everyday beauty essentials for professionals and consumers alike. With the acquisition of Fromm, its fourth platform investment, Firelight says it extends its unique investment model, bringing together world-class industry talent, digital acumen and channel expertise into the 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.
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 Jan. 2. 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.
“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,” said Rick Perkal, CEO and managing partner of Firelight Capital Partners, “and we believe that under the leadership of Martin L. Okner, Fromm will continue to thrive and innovate in the beauty industry."
Martin Okner
Okner is a seasoned beauty executive with a proven track record of leadership in the beauty and consumer packaged goods sectors. As president of dpHUE and with previous experience at Fortune 500 companies such as Revlon and Cadbury, Okner brings a wealth of experience and a vision for innovation that align with Firelight Capital Partners' strategic goals for Fromm.
"I am honored to lead Fromm into this new chapter,” said Okner. “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."
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.