Private equity firm Tengram Capital Partners has purchased US-based makeup brand Lime Crime.

The deal is expected to support the brand’s growth strategy by focussing on online store Limecrime.com.

The company also plans to create a wide range of products, introduce new categories and enhance customer experiences globally.

Tengram Capital partner Richard Gersten said: “We have tremendous appreciation for what Doe, Sasha Valentine and the team have built over the past ten years, a revolutionary brand that empowers consumers to express themselves and inspires them to push past the traditional limits of beauty.

“In an era of beauty brand proliferation, Lime Crime’s authenticity and innovation stands above the rest.”

“In an era of beauty brand proliferation, Lime Crime’s authenticity and innovation stands above the rest. Lime Crime is a tremendous fit in our strong portfolio of beauty brands and we look forward to leveraging our experience to help the Lime Crime team achieve its growth prospects.”

In addition, Lime Crime has named Stacy Panagakis as its CEO. Prior to this role, she worked as the general manager of Fresh overseeing the North American affiliate. She also held various executive roles at Origins Natural Resources, Stila Cosmetics and Clinique.

Established in 2008, Lime Crime offers a range of makeup products, including Unicorn Lipsticks, Velvetines ultra-matte liquid lip craze, Diamond Crushers lip toppers and Unicorn Hair.

The company’s products are available at various retailers, including Bloomingdales, Riley Rose, Cult Beauty FeelUnique, Selfridges and Ulta.com. It has a presence in the US, Singapore and the UK.