Castanea invests in First Aid Beauty

Castanea Partners has acquired a minority stake in First Aid Beauty. No financial terms were disclosed. In addition to the investment, Steve Berg and Janet Gurwitch of Castanea have been added to First Aid Beauty’s board of directors. FAB is a skincare products provider.


Castanea Partners invests in Proenza Schouler

Castanea Partners said Monday it has acquired a minority stake in Proenza Schouler. Financial terms weren’t announced. Proenza Schouler is a New York-based luxury fashion brand. Shirley Cook, Proenza Schouler’s CEO, is stepping down as part of the deal. Ron Frasch, former President and Chief Merchandising Officer at Saks Fifth Avenue and currently an operating partner at Castanea, is assuming the role as Interim CEO.


Castanea Partners invests in Thymes

Castanea Partners has invested an undisclosed amount in Thymes, which makes fragrances for bath, body and the home. Other investors in the transaction included Stanfield Capital, RCPDirect II LP, Northstar Mezzanine Partners VI, LP and management. Troy Stanfield, of Stanfield Partners and formerly of Castanea, organized the syndicate of additional investors for the deal. Stanfield will join Thymes’ board.

Castanea promotes staffer to partner

Castanea Partners has promoted Juan Marcos Hill to partner. Hill first joined Castanea as an associate in 2002. Prior to joining the firm, Marcos worked at Bain & Company.


Castanea Partners closes Fund IV on $600 mln

Castanea Partners has closed its fourth fund on $600 million. Castanea Partners Fund IV, L.P. will make investments of $15 million to $75 million in buyouts, growth equity, acquisition capital raises and operationally challenged companies. Along with the fund close, Castanea has promoted Steve Berg to managing partner.


Castanea Partners invests in Essentia Water

Castanea Partners has invested in Essentia Water, which provides enhanced, alkaline water. First Beverage Ventures also participated in the funding. As part of the deal, Troy Stanfield, partner at Castanea, will join Essentia’s board of directors.


Castanea Partners invests in Aurora Brands

Castanea Partners has made an investment in Aurora Brands, which owns two luxury home and lifestyle brands MacKenzie-Childs and Jay Strongwater. Castanea is partnering with Aurora Brands management, led by Lee Feldman and Howard Cohen, on the investment. Ron Frasch, an operating partner at Castanea, will be joining Aurora Brands’ board.


Salon chain Drybar bags $20 mln

Drybar has closed $20 million in funding. SPK Capital and previous backer Castanea Partners led the round. Headquartered in Irvine, Calif., Drybar is a hair salon chain focused on offering affordable blowouts.


Julian Chu promoted to operating partner

Castanea Partners has promoted Julian Chu to operating partner. Chu, who joined Castanea as vice president in 2012, has over fifteen years of experience in the digital marketing and ecommerce sectors.


peHUB First Read

Take time out this morning to catch up on the latest headlines including Castanea’s Fund IV plans, Guy Hands’ team salary boost and why you should be placing your private equity bets on real estate.

Drybar Secures Funding from Castanea

Drybar, a business in the emerging “blow dry only” segment of the beauty industry, has closed a $16 million investment by Castanea Partners, the Boston-based private equity firm, for a minority stake in the company. As part of the transaction, Janet Gurwitch and Paul Pressler will be joining Drybar’s board. Gurwitch is the founder and […]

New Operating Partner for Castanea

Janet Gurwitch has joined Castanea Partners as operating partner. Gurwitch has over fifteen years executive experience in the personal care, luxury, and branded consumer products sectors. Prior to joining Castanea, she was the founder and CEO of Laura Mercier Cosmetics, a global beauty brand. PRESS RELEASE Castanea Partners announced today that Janet Gurwitch has joined […]

Castanea Partners Buys Stake in Fitness Anywhere

Buyout shop Castanea Partners has acquired a minority stake in San Francisco-based suspension training equipment maker Fitness Anywhere. The company said it would use the proceeds to fund strategic growth. Financial terms of the deal were not released. Newton, Mass.-based Castanea Partners typically invests between $15 million and $75 million into companies focused on consumer products, specialty retail, marketing services, information services, and education.

Castanea Buys Upscale Suit Co.

Castanea Partners has bought Astor & Black Custom Clothiers, the maker of high-end suits favored by some athletes and corporate executives, from founder David Schottenstein in an all-equity transaction, Castanea executives told Buyouts. Schottenstein, who launched the company in 2004, will retain a significant minority stake. The Columbus, Ohio-based company prides itself on making suits […]

Castanea Partners Invests in Astor & Black

Private equity investor Castanea Partners has invested an undisclosed amount in Astor & Black Custom Clothiers. Formed in 2004, Columbus, Ohio-based Astor & Black is a provider of custom-made suits, shirts and other apparel. Terms of the transaction were not disclosed.

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