Babson Capital Management said Thursday that it provided subordinated debt and made an equity co-investment to support Swander Pace Capital’s buy of Caleel + Hayden Holdings Inc., which does business as glōProfessional. Babson said it was the sole provider of mezzanine capital for the deal. Denver-based glōProfessional develops and makes mineral-based cosmetics under the glominerals brand and premium skin care products under the glotherapeutics brand.
Babson Capital Management LLC, a global investment management firm with more than $180 billion in assets under management and operations on four continents, today announced it provided subordinated debt and made an equity co-investment to support Swander Pace Capital’s acquisition of Caleel + Hayden Holdings Inc., dba glōProfessional.
Babson Capital was the sole provider of mezzanine capital on the transaction.
Denver-based glōProfessional is a leading developer and marketer of mineral-based cosmetics under the glominerals brand and premium skin care products under the glotherapeutics brand. glo serves over 5,000 dermatologists, cosmetic surgeons, aestheticians, spas and salons (the “professional channel”) both domestically and internationally, as well as select specialty retailers. The company also recently launched to the same customer base a line of hair care products under the gloessentials brand name.
“Swander Pace Capital is delighted to partner with Babson Capital’s Mezzanine & Private Equity Group on the acquisition of glōProfessional, and we look forward to working together again on future transactions,” said Swander Pace Managing Director Mo Stout. “As with several previous portfolio investments, all parties to this transaction benefited from Babson Capital’s experience and expertise in the lower middle market, its highly collaborative approach, and its reliability and responsiveness.”
“Babson Capital is excited about the opportunity to extend our successful partnership with Swander Pace through our participation in the glōProfessional investment,” said Michael L. Klofas, Managing Director and head of Babson Capital’s Mezzanine & Private Equity Group. “The management team of glōProfessional has built a strong position in a growing market, and we believe Swander Pace, with its reputation and track record in the beauty and personal care categories, is the perfect partner to help grow the glōProfessional brand.”
About Swander Pace Capital
Swander Pace Capital is a leading private equity firm specializing in investments in growth-oriented, lower middle-market consumer companies. Since its inception in 1996, Swander Pace has used its expertise in this industry to pursue a consistent strategy of acquiring or investing in consumer products companies with leading market positions in attractive, defensible niches. With offices in San Francisco and New Jersey, Swander Pace provides portfolio companies with a unique mix of financial and strategic consulting support to create long-term investment value. Swander Pace has led successful private equity investments in consumer companies with total revenues in excess of $2.0 billion. For more information, visit www.spcap.com.
About Babson Capital
Babson Capital Management LLC and its subsidiaries serve institutional investors around the globe and have $180.5 billion in assets under management as of March 31, 2013. Through proprietary research and a focus on investment fundamentals, we develop products and strategies that leverage our broad array of expertise in global corporate debt markets, structured products, debt and equity financing for commercial real estate, and alternatives. The firm’s subsidiaries include Cornerstone Real Estate Advisers LLC and Wood Creek Capital Management, LLC. Babson Capital is a member of the MassMutual Financial Group and is on the web at www.BabsonCapital.com.