Main Post Partners has made an investment in SUGARED + BRONZED, a provider of hair removal and sunless tanning services. No financial terms were disclosed. Piper Jaffray & Co served as financial adviser to SUGARED + BRONZED on the transaction.
SANTA MONICA, CA, November 11, 2019 – SUGARED + BRONZED, the nation’s largest sugaring and sunless tanning destination, announced today it has received a strategic growth investment from Main Post Partners, a San Francisco-based private equity firm with deep experience partnering with high growth consumer companies.
Founded in 2010 by Courtney Claghorn and Sam Offit, SUGARED + BRONZED provides high quality and efficient hair removal and sunless tanning services at an affordable price point in a luxury setting. By focusing exclusively on airbrush tanning and sugaring, a specialized form of hair removal that uses a sugar paste consisting of just sugar, lemon, and water to extract hair, SUGARED + BRONZED ensures clients leave with smooth skin and a flawless tan. The Company, which currently operates 10 locations across Los Angeles, Orange County, New York, and Philadelphia, offers services through an a la carte and membership model, providing ultimate flexibility and value for clients.
“In my early 20’s, I realized that a healthy skincare regimen was directly related to when I felt the most comfortable in my own skin. Much like our client base, I feel my best with tan, smooth skin, but never wanted to spend a fortune on routine beauty services or subject myself to the damaging effects of UV-rays or the risks of waxing. At SUGARED + BRONZED, I love that we’re able to provide our clients with services that are affordable, safe, and most importantly, enhance the ability to cultivate self-confidence,” said Courtney Claghorn, Co-Founder and President.
“We have had the pleasure of getting to know Courtney and Sam over the last several years and have been impressed with the strong foundation they’ve built. SUGARED + BRONZED is a disruptor in the highly fragmented beauty services space and we are excited to support the team as they continue to grow their base of loyal clients in both existing and new geographic markets,” said Josh McDowell, Partner at Main Post Partners.
Main Post’s investment will be used to support new product growth, location expansion and strategic marketing opportunities to further drive awareness of the Company’s specialized services for hair removal and sunless tanning.
“We are thrilled to partner with Main Post. It is incredibly rare to find investors who are dedicated to preserving our company culture and maniacal focus on quality. They immediately understood our vision of investing in our team, training, and products to create unparalleled client experiences in our sector,” Sam Offit, Co-Founder and CEO.
Jeff Mills, Managing Partner at Main Post, said, “Their unique focus on two highly specialized services, supported by consistently strong customer reviews on the quality of the experience have built SUGARED + BRONZED into a differentiated brand within the beauty sector that we are excited to partner with.” Aaron Garcia, a Principal at Main Post Partners, added “Main Post’s experience with companies in the beauty and hospitality sectors, along with scaling high-culture, multi-unit concepts are well aligned to support the business during this next phase of growth. We are excited to help Courtney and Sam achieve their vision of creating a category defining brand.”
Piper Jaffray & Co. served as the exclusive financial advisor to SUGARED + BRONZED, Morrison & Foerster served as the exclusive legal advisor to Main Post Partners, and Offit Kurman served as the exclusive legal advisor to SUGARED + BRONZED.
About SUGARED + BRONZED
SUGARED + BRONZED is a luxury beauty services company that focuses on providing premium experiences in sugaring hair removal and custom airbrush tanning at an affordable price point. SUGARED + BRONZED has revolutionized airbrush tanning with a proprietary solution and revived an ancient Egyptian form of hair removal for the western world. For more information, please visit www.sugaredandbronzed.com or connect with the brand on Instagram and Facebook.
About Main Post Partners
Main Post Partners is a private equity investment firm focused on investing in proven growth companies across the consumer value chain. Main Post Partners invests in both majority and minority positions primarily in first institutional capital situations where founders, entrepreneurs and management teams are looking for an experienced partner to help build their companies to full potential. With a “Partnership, not Ownership” approach, Main Post Partners works closely with a network of successful executives to provide operational and strategic support to its management partners. Main Post Partners was named to Inc.’s list of The 50 Best Private Equity Firms for Entrepreneurs.