The mid-market investor has laid down capital for Aurora and will be partnering with the company’s management team led by Twin Lakes Capital partners Lee Feldman and Howard Cohen.
Under Twin Lakes’ leadership, Aurora Brands bought homeware designer and manufacturer MacKenzie-Childs in 2008 and luxury home accessories maker Jay Strongwater in 2011.
Castanea partner Steve Berg said, “We really look forward to working with Lee and Howard to support the continuing growth of MacKenzie-Childs and Jay Strongwater.
“We feel that our operating and marketing experience will add value in the next stage of the company’s development.”
Aurora Brands CEO Feldman added, “Castanea’s extensive operating experience building premium consumer brands was the distinguishing factor when it came to selecting a partner.”
Castanea Partners re-upped in a $20m financing round for US hair drying chain Drybar in July this year, bring the company’s total funding to $50m.
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