US GP backs Australia skin tanning products brand

Guage, which has at least two US-based beauty companies in its portfolio, entered the Australian market in 2021 with the AUD 147m (USD 98m) acquisition of hair care products maker Bondi Boost. The seller was Hyper Capital, a Sydney-based family office active in private equity.

As part of the Loving Tan investment, Gauge has appointed industry veteran Hilary Daly as CEO. James Jackson, a partner at Guage, and Reilly McAllister, a vice president, have joined the company’s board. “We believe there is a significant opportunity to build the Company into a global personal care platform through both organic growth and additional acquisitions,” McAllister said in a statement.

Founded in 2010, Loving Tan describes itself as one of the leading brands in the prestige segment of the local beauty space. Its core products cover self-tan mousse, self-tan creams, tan applicators, and removal products. It also offers accessories such as applicators and bags, as well as gift sets. They are marketed at high-end beauty retailers and online.

“The brand was founded on the mission to deliver the highest quality products, and we feel this dedication to quality forms a strong foundation to drive the brand to the next level,” Daly added.

“Gauge’s history and experience in beauty and personal care will allow Loving Tan to accelerate growth with a partner that understands Loving Tan’s vision for the future and embraces our commitment to providing our customers with the best products possible.”

Texas-based Gauge focuses on middle-market companies across business services, food and consumer, government and industrial services, healthcare, and technology. The firm has raised three funds since its inception in 2013. It currently manages around USD 2bn.

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• Topics
• Australasia
• Consumer
• Expansion
• Buyouts
• Australia
• beauty & personal care