TPG Growth has announced that it has acquired a majority stake in e.l.f Cosmetics.
The majority share in the American cosmetic firm has been acquired from company founders and TSG Consumer Partner LLC, a leading investor in middle market consumer companies.
John Bailey, principal at TPG Growth, stated: “We are happy to partner with e.l.f. to build the company and accelerate its already impressive growth trajectory.”
e.l.f cosmetics occupies a niche in the colour cosmetics market, providing high quality cosmetics tools and accessories with a strong online presence, according to Cosmetics Business.
“The growth of e.l.f. Cosmetics has been phenomenal, and TSG is fortunate to have been partnered with such an exciting company,” said Jennifer Baxter Moser, Managing Director at TSG Consumer Partners. “We look forward to watching the brand continue to grow and develop in the future,” she added.
Source: Cosmetics Business