RoundTable Healthcare Partners Joins Forces with Colorescience
Partnership Supports the Company's Next Phase of Innovation and Growth
RoundTable Healthcare Partners, an operating-oriented private equity firm focused on the healthcare sector, recently revealed an exciting new partnership and investment in Colorescience, Inc. This partnership is poised to support Colorescience in its ongoing innovation and growth phases.
Colorescience has made a name for itself in the skincare and sun protection industry, utilizing a science-first approach to develop their products. They are renowned for their mineral-based, clinically validated skincare solutions that provide essential broad-spectrum protection while maintaining a cosmetically elegant finish. Professionals such as dermatologists, plastic surgeons, and aestheticians trust Colorescience for their rigorous clinical performance mixed with user-friendly daily skincare options.
The company has adopted a diversified omni-channel business model that operates across various sectors, including professional engagements, direct-to-consumer sales, and prominent e-commerce platforms. Colorescience has shown remarkable growth and is well-positioned to further increase brand recognition, enhance its multi-channel penetration efforts, and broaden its product offerings while staying true to its clinical heritage.
Leadership Insights on the Partnership
Mary Fisher, the Chief Executive Officer of Colorescience, expressed her excitement regarding the partnership, stating, "Since 2013, our team has worked tirelessly to establish Colorescience as a reliable brand providing effective protection and performance for our customers. We are grateful for our employees' commitment as we step into this thrilling new growth phase alongside RoundTable, whose values and expertise align with our goals."
Tim Connors, Managing Partner at RoundTable, shared his enthusiasm as well, stating, "Partnering with Mary and the entire Colorescience management team could not be more exciting. Colorescience represents a strong platform with an efficient consumer advocacy model and a unique product selection driven by science and innovation. We anticipate great strides in advancing the Colorescience brand and leveraging the Company's momentum."
Moreover, Jawwad Akhtar, a Partner at RoundTable, noted that Colorescience signifies their ninth consumer healthcare platform investment. This further highlights their commitment to collaborating with management teams to cultivate sustainable, leading-category companies recognized for their consumer trust and expert recommendations. With RoundTable's resources and expertise, they aim to help Colorescience accelerate its growth trajectory and enhance customer service.
Details of the Investment
RoundTable's acquisition encompassed collaborating with a group of shareholders led by 1315 Capital. Adele Oliva, Founding Partner of 1315 Capital, remarked, "Working with the Colorescience team to prioritize effective skincare and sun protection has been an incredible experience. Our collaborations with RoundTable have shown us their dedication to operational excellence. The growth trajectory of Colorescience has been impressive, and we eagerly anticipate the positive influence RoundTable will bring."
The investment in Colorescience marks RoundTable's third platform investment using its $800 million Equity Fund VI. They secured senior debt financing through Capital One, N.A., with additional participation from CIBC Bank USA and Lord Abbett Private Credit Advisor LLC. RoundTable utilized Sidley Austin LLP as their legal advisors, while Raymond James served as the financial advisor, and Greenberg Traurig, LLP provided counsel to Colorescience.
About Colorescience
Colorescience, headquartered in California, is a premium skincare and sun protection brand recognized for its commitment to science-based, mineral-based solutions. Their products are highly regarded by dermatologists, plastic surgeons, and aesthetic professionals, designed to enhance skin health through innovative daily skincare and sun protection options. The company thrives within an omni-channel framework, enabling diverse access through professional engagements, direct-to-consumer sales, and prominent e-commerce channels.
About RoundTable Healthcare Partners
Based in Lake Forest, Illinois, RoundTable focuses on building valuable partnerships within the healthcare realm. They work closely with businesses ready to leverage their extensive industry connections and proven track record in operational excellence and transactions. RoundTable has raised $4.25 billion in committed capital, which includes several equity and subordinated debt funds. For more information about RoundTable, visit their website.
Frequently Asked Questions
What is the nature of the investment made by RoundTable?
RoundTable Healthcare Partners has partnered with Colorescience to support their growth and innovation in skincare and sun protection.
How will this partnership impact Colorescience?
The partnership will enhance Colorescience’s brand awareness, product portfolio, and market penetration efforts.
Who is leading Colorescience's management?
Mary Fisher serves as the Chief Executive Officer and has been instrumental in the company's growth and reputation.
What is RoundTable’s area of focus?
RoundTable Healthcare Partners solely concentrates on investments within the healthcare industry.
What can we expect from Colorescience moving forward?
With the new partnership, Colorescience is expected to expedite its growth, improve customer service, and expand its product offerings.
