Crescent Financial Partners Inc. purchased a 30 percent equity stake in BeautyTicket.com, which sells beauty products at a discount. Financial terms were not disclosed. Crescent Financial is a Los Angeles, Calif.-based private equity merchant banking firm.
Crescent Financial Partners, Inc., a private equity merchant banking firm that provides a range of services for early stage and middle market companies, has announced through Managing Director Russell Armstrong the purchase of a 30% equity stake in BeautyTicket.com.
“We believe this company has the ability to rapidly increase market share and become the #1 destination for consumers who want to purchase premium beauty products at a price that fits today’s economic climate”
Recently named InStyle’s “Best of the Web 2010,” and Women’s Wear Daily’s “Top Beauty e-Tailer,” BeautyTicket.com is the online retail destination for premium beauty brands up to 85% off. Fueled by a weak economy and the popularity of online discount retailers, the company is positioned to become a leader in the online beauty space over the next twelve months as consumers continue to look for deals and buying decisions are influenced by the people behind the brand.
“We believe this company has the ability to rapidly increase market share and become the #1 destination for consumers who want to purchase premium beauty products at a price that fits today’s economic climate,” remarked Russell Armstrong. “Our goal is to impart business development expertise that will lead to exponential growth, while providing the necessary capital to build out a solid infrastructure.”
Added Lindsay Pedder, CEO and founding partner of BeautyTicket.com: “We are thrilled to be working with Crescent Financial Partners and believe we have assembled a talented, knowledgeable team to facilitate expansion and opportunity for our company over the next several years.”
About Crescent Financial Partners, Inc. (CFP)
Los Angeles-based Crescent Financial Partners, Inc. is a private equity merchant banking firm, focused on early stage and middle market opportunities. CFP is a principal investor, providing project and growth funding, business development expertise, and strategic and financial guidance.
BeautyTicket.com was launched by Lindsay Pedder and Jill Sherman, two seasoned beauty industry executives who wanted to bring the best of beauty to women on every budget. By using their insider knowledge and industry contacts from years of experience with premium cosmetics and skincare companies, they accomplished what they set out to do: create a fashion-forward, budget-savvy destination complete with top brands and a premium beauty experience.
For Crescent Financial Partners, Inc.
Rebekah Iliff, 310-770-8338