Fromm International has a new owner.
The hair tools and accessories manufacturer, which also owns brands The Hair Edit, Fromm Pro and Diane, has been acquired by Firelight Capital Partners in the firm’s first beauty deal. Terms of the deal were not disclosed.
The company, which has been owned by the Simon-Johnson family since its inception in 1907, will be helmed by Martin Okner, who is taking on the role of chief executive officer. Fromm president Kevin Barrett will retain his title.
“With the company’s strong foundation and support of Firelight Capital Partners, we will continue to deliver exceptional products and services to our customers and will continue to realize new opportunities for growth and expansion through retail distribution and acquisitions,” Okner said.
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The acquisition follows a rapid-fire succession of yearend beauty deals. Shiseido snapped up Dr Dennis Gross while Unilever picked up biotechnology-rooted hair care brand K18 and sold its noncore personal care brands — which include Tigi, Impulse and Caress — to Yellow Wood Partners LLC.
According to Circana data, prestige hair closed out the third quarter of 2023 up 15 percent.
Fromm’s brands span channels and geographies. Diane and Fromm Pro play mostly in the professional hair channel, while The Hair Edit counts Ulta Beauty as a distribution partner. The company declined to comment on sales, though, according to Firelight Capital’s website, it typically invests in companies with revenues between $25 million and $100 million.
“This acquisition deepens our commitment to investing in consumer businesses with strong growth potential,” said Rick Perkal, CEO and managing partner of Firelight Capital Partners, in a statement.
Added Pat Collins, managing partner of Firelight Capital Partners, “We see tremendous potential in Fromm’s brands and are excited to build upon its more than 100-year legacy of success.”
