Colorescience has been acquired by RoundTable Healthcare Partners, it was revealed Monday, although terms of the deal were not disclosed.
The skin care and sun protection brand was previously owned by a group of shareholders led by 1315 Capital. According to industry sources, sales were approaching $100 million.
“Since 2013, our team has built Colorescience into a trusted brand that delivers meaningful protection and performance for our customers,” said Mary Fisher, chief executive officer of Colorescience. “I want to sincerely thank our employees for their passion and dedication in helping us reach this exciting point in our evolution. We are thrilled to partner with RoundTable as we enter the next stage of growth, and we believe their values, culture and operating expertise align closely with what makes Colorescience special.”
Tim Connors, managing partner of RoundTable and chairman of Colorescience’s board, added the brand has “built a compelling platform defined by strong consumer advocacy and a differentiated product portfolio anchored by a commitment to science and innovation.”
Adele Oliva, founding partner of 1315 Capital, said: “It has been a privilege to work alongside the Colorescience team as the company focused on protecting and saving lives through its high-performing skin care and sun protection products. Our firm has partnered with RoundTable on multiple transactions and has been consistently impressed with their operational focus. The growth of Colorescience over the past few years has been tremendous, and we are excited about RoundTable’s impact on the trajectory ahead.”
Debuting over 25 years ago, the brand was at one point owned by SkinMedica.
