North Castle Partners Invests In Palladio Beauty

Private equity firm North Castle Partners has completed an investment in Palladio Beauty Group, in partnership with CEO and owner Philip Solomon. The terms of the investment were not disclosed.

Based in Hollywood, FL, Palladio Beauty Group is a marketer of color cosmetics and skin care products sold primarily through the beauty supply and professional beauty channels.The firm’s Palladio line is a cruelty-free, “herbal and vitamin enriched cosmetics” brand distributed through professional beauty supply stores and high-end specialty retailers in more 40 countries.

“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,” said Solomon. “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.I am very excited to announce this partnership and look forward to working together with the North Castle team.”

“Investing in companies that provide high quality personal care products and services is a cornerstone of North Castle’s mission to partner with industry leading companies in the health, wellness, and active living market,” said Lou Marinaccio, a North Castle managing director.”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. We are proud to welcome Phil and his team into the North Castle family.”

Part of Palladio’s attractiveness, according to North Castle, is based on its “distinctive value proposition as a low cost but high quality ‘value’ product line.”

“While North Castle has generally invested in companies serving the premium price point consumer with innovative products, we have in the wake of the global recession sought, and with Palladio now have, a partner who provides lower-cost, but high-quality, products at a better price,” said Chip Baird, North Castle’s managing partner.