Star Avenue Capital Invests in Macadamia Natural Oil
This investment is its first in the beauty space.
"Star Avenue is thrilled to partner with a dynamic entrepreneur like [CEO and founder] John [Fasan],” says Craig Elson, Star Avenue Capital managing director. “He has built a global business in a very short period of time. We look forward to working with him to continue growing the company’s international business while applying our resources to bolster Macadamia’s U.S. presence.”
Fasan adds, “Star Avenue shares our vision for the Macadamia brand and brings unique resources, capabilities and insight that would otherwise not be available to the company. Star Avenue has access to CAA’s extensive network of relationships and resources as well as the agency’s unique insight into popular culture, and to IPC’s relevant investment experience in the consumer and retail sectors, which are valuable assets for high-growth consumer brands such as Macadamia. These additional resources make Star Avenue the right partner for Macadamia—one that can help me transform my business.”
Roth Capital Partners acted as the exclusive financial adviser, and Buchalter Nemer acted as counsel for Macadamia. Bank of America Merrill Lynch’s Global Commercial Banking Group provided working capital financing. Demeter Advisory Group advised, and Proskauer represented Star Avenue Capital.
[Image courtesy of Macadamia Natural Oil]