Beauty Store Business magazine - January, 2020

North Castle Invests in Palladio Beauty Group

Private-equity firm North Castle Partners, which focuses on investments in consumer-driven product and service businesses that promote health, wellness and active living, has made an investment in Palladio Beauty Group in partnership with its CEO and owner Philip Solomon. Terms weren't disclosed.

"When 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."

Palladio Beauty Group, based in Hollywood, Florida, markets premium color cosmetics and skincare products that are sold primarily through the beauty-supply and professional-beauty channels. The brand boasts a growing customer base both nationally and abroad. North Castle’s investment further extends its presence in the personal-care sector.

"We spent time developing a relationship with Phil long before pursuing this investment, and became very impressed with his capabilities as a leader in this fast-moving industry,” said North Castle managing director Jon Canarick. “Palladio's strong customer-service orientation, deep industry relationships and tight operating efficiency provide a platform for continued growth, both for the Palladio brand and for potential acquisitions of brands that can complement Palladio in serving the company's growing customer base."

Some of North Castle's successful prior investments include Avalon Organics, Alba Botanicals and Doctors Dermatologic Formula, say company officials. Current investments include gloProfessional, Mineral Fusion Natural Brands and the Red Door Spa, they add.