MidOcean Partners said Tuesday that it has invested in Image Skincare. Financial terms weren’t announced. Palm Beach, Florida-based Image Skincare develops, markets and distributes skincare products. Goldman, Sachs & Co. advised Image Skincare.
NEW YORK, September 1, 2015 – MidOcean Partners (“MidOcean”), a premier middle market private equity firm, announced today that it has made a significant investment in IMAGE Skincare (“IMAGE”), a leading brand of innovative products for the professional skincare channel.
Founded in 2003, IMAGE is a high-growth, innovative clinical skincare brand sold exclusively through spas, physician offices and other professional channels. IMAGE’s products have broad appeal and address key skin concerns such as aging, wrinkles, sun damage, and stressed skin.
IMAGE Skincare will continue to be led by Janna Ronert, Founder and Chief Executive Officer, and Dr. Marc Ronert, President and Medical Director, under whose leadership the company has grown from a start-up into an internationally-recognized leader in professional skincare products. Janna Ronert and Dr. Marc Ronert will retain a significant ownership stake in IMAGE going forward. Following the transaction, the company’s senior leadership will continue to expand IMAGE’s reach in current and new markets in partnership with MidOcean’s considerable operating resources. CEO Janna Ronert commented, “We are excited for this new phase in our journey to become the leading global professional skincare brand. We will greatly benefit from the combined resources of IMAGE Skincare and MidOcean, and we look forward to expanding our business together.”
President and Medical Director Dr. Marc Ronert further stated, “The partnership with MidOcean will enable us to dedicate additional focus to key areas of our business including innovation and product development, customer service, training and education.”
“MidOcean has been evaluating opportunities in the beauty space and believes that IMAGE Skincare is a high quality business and brand whose rapid global expansion can be accelerated,” said Jonathan Marlow, Principal at MidOcean. “IMAGE has a tremendous track record of growth across channels and geographies with both existing and new products. We see numerous opportunities to increase IMAGE’s global presence, and look forward to working with the company’s talented team of employees.”
Kirkland & Ellis acted as legal advisor to MidOcean. Goldman, Sachs & Co. acted as exclusive financial advisor and Greenberg Traurig LLP acted as legal advisor to IMAGE Skincare.
Founded in 2003, IMAGE Skincare is an industry leader in the development, marketing and distribution of evidenced-based clinical products for the professional skincare channel. The Company’s extensive portfolio of innovative products include serums, moisturizers, cleaners, eye crèmes, masques, peels and foundations, and are sold in more than 40 countries globally. IMAGE Skincare develops products with the latest anti-aging, balancing, hydrating, and illuminating technologies to further its mission of helping the world to Age Later™. The Company’s comprehensive product lineup include Vital C, Ageless, Iluma™, ORMEDIC®, The Max™, Prevention+, IMAGE MD, CLEAR CELL, and, I Peel, I Conceal, each of which are targeted at specific skin concerns and customizable to individual needs. For additional information, visit www.imageskincare.com.
About MidOcean Partners
MidOcean Partners is a premier private equity firm headquartered in New York focused on the middle market. MidOcean is committed to investing in high quality companies with stable market positions and multiple opportunities for growth. Targeted sectors include consumer and media/business services. MidOcean utilizes a broad foundation of expertise in its focus industries to create value for its investors and partners. For more information, visit www.MidOceanPartners.com.