Beauty Store Business magazine - May, 2019

Topspin Partners Acquires a Majority Interest in JD Beauty Group

Topspin Partners—a private equity firm based in Mamaroneck, New York, that makes control investments in profitable and established lower middle-market businesses—has announced that it has acquired a majority interest in JD Beauty Group, the designer and marketer of branded, professional-quality hairbrushes and beauty care accessories. Other details of the deal weren’t announced.

JD Beauty Group’s flagship detangling brush is the Wet Brush, with SKUs both in the professional and the retail channels.

With nearly 40 years of experience in the haircare category, JD Beauty Group founder and CEO Jeff Rosenzweig will continue to lead JD Beauty Group's management team.

“We are excited to have Topspin as our partner going forward,” said Rosenzweig. “Their expertise and network in the personal-care industry will be invaluable as we further grow our brand and expand our market presence. Topspin’s strategic insight will be helpful as we consider various avenues for growth.”

Founded in 1977, Hauppauge, New York-based JD Beauty Group uses numerous manufacturers rep firms to sell its products through the pro-beauty channel. Its products are widely distributed throughout the pro channel, with a growing footprint in the retail channel—both domestically and globally.

Leigh Randall, managing drector at Topspin Partners, stated, “The Wet Brush reinvigorated the hairbrush category with design and function, and redefined the ‘detangling brush.’” JD Beauty Group “has established tremendous consumer and stylist acceptance, and a loyal and growing base of consumers, as evidenced by its rapid growth over the last few years. We are looking forward to supporting the management team as it builds upon the company’s strong foundation and expands the Wet Brush brand into complementary new channels.”

Topspin Partners invests across a number of industries, including health and wellness, niche consumer, food and beverage, business services and security.

JD Beauty Group was advised in the transaction by Los Angeles-based Intrepid Investment Bankers, a specialty investment bank that provides mergers-and-acquisition, capital-raising and strategic advisory services to middle-market companies across various industry sectors. Intrepid Investment Bankers is one of the most active M&A advisers in the beauty and personal-care sector.

Rosenzweig added, “Intrepid’s insights and knowledge in the beauty care sector were invaluable in helping us explore our strategic options and in finding us the right partner to further accelerate our growth.”

Steve Davis, managing director and head of the beauty & personal care practice at Intrepid Investment Bankers, noted, “When we first met Jeff, we saw a flourishing business and truly special brand in the Wet Brush. ... Jeff and his team have done a tremendous job expanding the brand into new channels and geographies. We were delighted to advise JD Beauty and be a part of this exciting growth story.”

[Image courtesy of www.jdbeauty.com ]