The deal came two months after CVC hired advisory firm Michel Dyens & Co to market Colomer.
Colomer, which was acquired from Revlon for $315m in 2000, currently has annual revenues of $500m, with a third of that based on US sales.
CVC planned to exit the company two years ago, but failed to find a buyer. It was reported that suitors were most interested in in the CND and American Crew product lines.
Earlier this month it was reported that CVC and Cinven were bidding for UK online payment services company Skrill, which has been put up for sale by Investcorp Technology Partners.
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