North Castle completes investment in personal care firm

US-based private equity company focused on health, wellness and active living markets North Castle has expanded its presence into personal care industry by investing in Florida-based Palladio Beauty Group.

North Castle announced that investment process has been completed in partnership with the Palladio’s CEO and owner Philip Solomon, for an undisclosed amount.

Palladio CEO Philip Solomon said North Castle was chosen when the company felt it was time to bring in a partner to help with its growth strategy.

"Based on several meetings and strategy sessions it became clear that we share a vision for continuing to grow Palladio, including: bringing more consumers who seek the Palladio brand into the stores of our US distribution partners, acquiring complementary brands, and continuing to expand the Palladio international footprint," Solomon added.

North Castle managing director Lou Marinaccio, welcoming Phil and his team into the North Castle family, said providing high quality personal care products and services remains a cornerstone of North Castle’s mission to partner with industry leading companies in the health, wellness and active living sectors.

"Our cumulative experiences in the personal care industry through our successful prior investments in Avalon Organics, Alba Botanicals, and Doctors Dermatologic Formula, combined with our current investments in gloProfessional, Mineral Fusion Natural Brands, and the Red Door Spa has provided North Castle with a deep knowledge base and network to support the Palladio team in accelerating company growth," Marinaccio added.

Palladio Beauty Group markets premium colour cosmetics and skincare products which are primarily sold through the beauty supply and professional beauty channels.