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Prelude Growth Partners exits its investment in the fast-growing brand and co-founders retain a significant stake.
Hybrid makeup brand Summer Fridays has received a strategic growth investment from TSG Consumer Partners.
Prelude Growth Partners will exit its investment in the company as part of the transaction.
The partnership will support Summer Fridays’ growth initiatives while maintaining the core Summer Fridays brand and products, officials said.
Officials said TSG will help position the company for continued product development, brand building and geographic expansion.
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.
Financial terms of the transaction were not disclosed.
Raymond James served as exclusive financial advisor to Summer Fridays and Cooley served as legal counsel. Ropes & Gray provided legal counsel to TSG.
“TSG has an extensive record of growing consumer brands in beauty and can support our expansion with their digital, operational and consumer insights capabilities,” said Hewitt and Ireland in a joint statement. “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.”
Founded in 2018, Summer Fridays began as a skincare company centered around its now award-winning and 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.
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