Star Avenue, a New York-based consumer growth equity vehicle formed in partnership with private equity firm Irving Place Capital and Creative Artists Agency, has invested in California professional hair care brand Macadamia Natural Oil.
Macadamia was founded in 2009 and incorporates nature-based ingredients, including macadamia and argan oils, into professional hair care products to control problem hair.
The firm said it will work with CEO and founder John Fasan to support the company’s growth and to help build the company into a leader in the global hair care industry.
“Star Avenue is thrilled to partner with a dynamic entrepreneur like John,” said Star Avenue Capital managing director Craig Elson. “He has built a global business in a very short period of time.
“We look forward to working with him to continue growing the company’s international business while applying our resources to bolster Macadamia’s US presence.”
Roth Capital Partners acted as the exclusive financial advisor.
Bank of America Merrill Lynch provided working capital financing.
Macadamia is Star Avenue’s second investment in the fashion and beauty space, having previously invested in upmarket denim company J Brand.
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