THE WHAT? Highlander Partners has announced the acquisition of RMS Beauty for an undisclosed sum.
THE DETAILS David Olsen, Managing Director of the Dallas-based private equity firm, will assume the role of CEO at RMS Beauty, effective immediately while Elaine Sack will move to a Chief Strategic Officer role.
“Like [Founder] Rose-Marie herself, the RMS brand is unique,” said Olsen. “It was the prescient first-mover in clean beauty and continues to push the industry with its formulation standards. Yet it also creates the highest quality and most effective products, as you’d expect from a master makeup artist. With these attributes, RMS has an opportunity to scale considerably. We intend to revamp the brand, strengthen and expand RMS’ extensive retail relationships, drive the DTC business, and enhance and broaden the product assortment.”
THE WHY? Jeff L. Hull, President and CEO of Highlander Partners, noted, “We have been exploring the beauty and personal care category in a meaningful way for the past two to three years. All of our efforts in assessing the beauty industry have led to an ideal investment with RMS. We believe RMS is the pioneer and leader in clean beauty and has significant growth opportunities, while also giving us optionality to create a larger clean beauty platform. It is our intention to continue to grow in this category through additional acquisitions.”