RMS Beauty, founded by US makeup artist Rose-Marie Swift in 2009, has been a pioneering leader in clean beauty. Notable for its living ingredient-based products, professional results have not been sidelined in the quest for sustainability and transparency.
The brand’s best-selling products include “RE” Evolve Radiance Locking Primer, “UN” Cover concealer, Straight Up Volumizing Peptide Mascara, Lip2Cheek blush, lip and cheek stain, Beauty Oil and Burriti Bronzer.
RMS is stocked by Mecca in Australia and has annual global revenues of US$30 million. Highlander Partners, a Texas-based private equity company which manages US$2 billion in assets, has acquired a majority stake in the brand for an undisclosed amount.
The deal represents the first outside capital injection for RMS, which has been self-funded to date.
David Olsen, Managing Director of Highlander and former global vice-president of Net-a-Porter, will become the CEO of RMS Beauty – effective immediately. Elaine Stack, who became the CEO of the brand at the beginning of last year, will take on the role of Chief Strategic Officer.
RMS has an opportunity to scale considerably, said Olsen. “We intend to revamp the brand, strengthen and expand RMS’ extensive retail relationships, drive the DTC business, and enhance and broaden the product assortment.”
According to Jeff L. Hull, President and CEO of Highlander Partners – “We have been exploring the beauty and personal care category in a meaningful way for the past two to three years. All of our efforts in assessing the beauty industry have led to an ideal investment with RMS.
“We believe RMS is the pioneer and leader in clean beauty and has significant growth opportunity, while also giving us optionality to create a larger clean beauty platform. It is our intention to continue to grow this category through additional acquisitions.”