Castle Harlan Acquires Sunless

Castle Harlan Inc., the New York private equity firm, have acquired Sunless Inc., the world’s preeminent manufacturer and marketer of spray tanning equipment, tanning solution and related accessories. For nearly two decades, the company has been providing consumers with natural-looking tans through the market leading brands Mystic Tan, Norvell and VersaSpa. 
 
The seller was the private equity firm, The Riverside Company. The deal closed on August 13. Terms were not disclosed.
 
Headquartered in Macedonia, OH, Sunless has been the pioneer in the spray tanning market, first commercializing spray tanning booths in 2000. Sunless’ booths are installed in thousands of tanning salons, fitness clubs, beauty salons and other outlets, and are responsible for more than 12 million spray tans per year. The company has developed proprietary knowledge, including several patents, for its spray tanning booths and solution to ensure a high-quality sunless tan. In addition to the booth market, Sunless is also the global leader in handheld spray tanning equipment and tanning solution used by professional airbrush artists to manually apply full-body spray tans.
 
“Sunless is a compelling opportunity as the leader in a growing and recurring consumer market,” said Eric Schwartz, managing director of Castle Harlan. “Demand for spray tanning is strong. It is amazing how quickly consumers who try spray tanning become regular adopters, and we expect this trend to continue in the coming years.”
 
Chief executive officer of Sunless Inc. Peter van Niekerk said, “Castle Harlan has the financial resources and ambition to help Sunless, Inc. drive exciting further innovation and revenue growth with its valued channel partners. We look forward to partnering with the Castle Harlan team. We are at an exciting point of time for the spray tanning industry, and we view this transaction as a catalyst for the industry’s next chapter of growth.”