10.08.21
Highlander Partners, L.P., a Dallas-based private investment firm, has announced the acquisition of RMS Beauty, South Carolina-based brand best known for driving the industry shift to clean beauty.
"I am beyond excited to partner with Highlander,” said Swift. “Over the years, many firms have tried to invest in our brand, but we've been self-funded and profitable since day one, and we were able to be patient and wait for the perfect fit. Highlander's operational expertise and creative approach to investing are unique and unparalleled, and they believe in our core ethos. I look forward to a great partnership."
Revered as the “The Godfather” of the clean beauty movement, Rose-Marie Swift – a seasoned makeup artist of 35 years with a deep knowledge of the cosmetics industry – founded her eponymous brand in 2009.
Swift’s founding of RMS Beauty 12 years ago was remarkable, as it followed her own tribulation with severe health issues. During her healing process and after intensive research, she discovered that some of the toxic chemicals and heavy metals in her system were also found in many commonly-used beauty products. Subsequent to rebuilding her health, Swift wanted to help other women claim their right to healthy, clean beauty and created the first-of-its-kind, organic color cosmetic line. RMS brought the energy of raw, food grade-natural ingredients with life force to the skin.
For over a decade, her work spans celebrity clients including Gisele Bundchen, Miranda Kerr and Karolina Kurkova, in addition to world-renowned photographers like Mario Sorrenti, Hedi Slimane, and Annie Leibovitz. She is revered for her outspoken nature, insights on the industry and candor with her clients and colleagues.
"Like Rose-Marie herself, the RMS brand is unique,” said David Olsen, managing director at Highlander. “It was the prescient first-mover in clean beauty and continues to push the industry with its formulation standards. Yet it also creates the highest quality and most effective products, as you'd expect from a master makeup artist. With these attributes, RMS has an opportunity to scale considerably.”
Olsen will assume the role of CEO of RMS. He brings decades of beauty and digital retail leadership to RMS, with prior experience including CEO of luxury beauty retailer Cos Bar and Global VP of Net-A-Porter, where he launched the beauty business. Olsen said the company intends to revamp the brand while strengthening and expanding RMS’ extensive retail relationships, driving the DTC business and enhancing and broadening the product assortment.
"We have been exploring the beauty and personal care category in a meaningful way for the past two to three years,” said Jeff L. Hull, president and CEO of Highlander Partners. “All of our efforts in assessing the beauty industry have led to an ideal investment with RMS. We believe RMS is the pioneer and leader in clean beauty and has significant growth opportunities, while also giving us optionality to create a larger clean beauty platform. It is our intention to continue to grow in this category through additional acquisitions."
Elaine Sack will move to the role of chief strategic officer and work hand-in-hand with Swift and Olsen through the transition. Ben Slater, a partner at Highlander, will serve as Chairman of the Board.