LOS ANGELES & SAN FRANCISCO--(BUSINESS WIRE)--Summer Fridays (or “the Company”), a clean, premium skincare and hybrid makeup brand, today announced it has received a strategic growth investment from TSG Consumer Partners (“TSG”), a leading private equity firm. The two co-founders, Marianna Hewitt and Lauren Ireland, will retain a significant stake and continue to lead the Company along with the rest of the Summer Fridays management team. Prelude Growth Partners (“Prelude Growth”) will exit its investment in the Company as part of the transaction.
Founded in 2018, Summer Fridays began as a skincare company centered around its now award-winning and iconic Jet Lag Mask – a hydrating multi-use mask and moisturizer. Over the past six years, the Company has evolved to encompass a breadth of beauty products, including lip care, suncare, hybrid makeup and body care. This partnership will support Summer Fridays’ growth initiatives while maintaining the core Summer Fridays brand and products. TSG will help position the Company for continued product development, brand building, and geographic expansion.
“We are thrilled to partner with TSG as we enter this new chapter of growth,” said Marianna Hewitt and Lauren Ireland, Co-Founders of Summer Fridays. “TSG has an extensive record of growing consumer brands in beauty and can support our expansion with their digital, operational, and consumer insights capabilities. We look forward to accelerating our innovation and global distribution alongside a partner that shares our values and supports our commitment to delivering effortless, gentle options for our customers.”
“We are proud of everything we have achieved during our partnership with Prelude Growth, which saw Summer Fridays become one of the most popular and fastest growing skincare brands in the industry,” said John Heffner, Chairman and CEO of Summer Fridays. “We are confident that this new partnership with TSG will enable us to enhance our current product assortment whilst exploring exciting new avenues for growth and innovation,” said Kim Natale, President.
“It has been a truly special experience to partner so closely with Summer Fridays over the past five years,” said Alicia Sontag, Co-Founder and Managing Partner at Prelude Growth Partners. “We have been so proud to support Marianna and Lauren’s vision for their brand and to help support Summer Fridays’ growth in product offerings and expansion at Sephora. We look forward to seeing what they accomplish in this next stage of their journey.”
“Summer Fridays is truly one-of-a-kind in the beauty industry,” said Colin Welch, Managing Director and Head of New York and London Offices at TSG. “It is a lifestyle brand that has built unparalleled consumer love through a focus on gently effective, intuitive, and easy-to-use products. We are honored to partner with Marianna, Lauren and the entire Summer Fridays team to build upon the Company’s success and to help further expand the brand globally.”
Raymond James served as exclusive financial advisor to Summer Fridays and Cooley served as legal counsel. Ropes & Gray provided legal counsel to TSG. Financial terms of the transaction were not disclosed.
About Summer Fridays
Founded in 2018 by Marianna Hewitt and Lauren Ireland, Summer Fridays is a clean, California-inspired premium beauty brand. Headquartered in Los Angeles, CA, the company is best known for its highly successful Jet Lag (Mask; Eye Serum) and Lip (Lip Butter Balm; Dream Lip Oil) franchises. Summer Fridays offers a growing assortment of products focused on beauty, efficacy, and simplicity. For more information, visit summerfridays.com.
About TSG Consumer Partners
TSG Consumer Partners, LP is a leading private equity firm with over $16 billion in assets under management that partners with founders and management teams to build and accelerate growth for best-in-class consumer-facing businesses. Since its founding in 1986, TSG has been an active investor in the consumer industry. Representative past and present partner companies include Duckhorn, Dutch Bros, Huda Beauty, IT Cosmetics, Planet Fitness, Pureology, Revolut, Revolution Beauty, Revolve, Smashbox Cosmetics, and Vitaminwater, among others. For more information, visit tsgconsumer.com.
About Prelude Growth Partners
Prelude Growth Partners is a growth equity firm that supports brands made for the new modern consumer. By partnering with founders and CEOs, Prelude Growth Partners provides deep category experience, value-added operational support, and a broad network to power the high potential, fast-growing consumer brands of tomorrow. Prelude Growth Partners seeks to make investments of $10 million to $50 million in each company, across branded consumer categories including personal care, beauty, food & beverage, baby, pet, health & wellness and other consumer product and service companies. Investments include: Sol de Janeiro, Naturium, Summer Fridays, Made Good, Banza, So Good So You, Westman Atelier, Skin Pharm, 8Greens, Blueland, Bachans, dpHUE and Fly By Jing. For additional information on Prelude Growth Partners, please visit www.preludegrowth.com.
