Publication

Sugared + Bronzed, Represented by Offit Kurman, Secures Private Equity Investment

 

Santa Monica, CA | December 3, 2019

Sugared + Bronzed has earned investment from Main Post Partners, a San Francisco-based private equity firm. The sugaring and sunless tanning destination—the largest of its kind in the U.S.—was founded by Courtney Claghorn and Sam Offit, son of Offit Kurman CEO and Co-Founder, Ted Offit. Offit Kurman has served as the exclusive legal advisor to the company.

Sugared + Bronzed provides high quality and efficient hair removal and sunless tanning services. The company’s airbrush tanning is a safer and more convenient alternative to UV tanning. Its sugaring, meanwhile, is a specialized form of hair removal that uses a sugar paste consisting of just sugar, lemon, and water to extract hair. The company currently operates 10 locations across Los Angeles, Orange County, New York, and Philadelphia.

“In my early 20’s, I realized that a healthy skincare regimen was directly related to when I felt the most comfortable in my own skin,” said Ms. Claghorn, the company’s President, in a statement about the Main Post investment. “Much like our client base, I feel my best with tan, smooth skin, but never wanted to spend a fortune on routine beauty services or subject myself to the damaging effects of UV-rays or the risks of waxing. At Sugared + Bronzed, I love that we’re able to provide our clients with services that are affordable, safe, and most importantly, enhance the ability to cultivate self-confidence.”

Josh McDowell, Partner at Main Post, commented on how the Sugared + Bronzed leadership team impressed him “with the strong foundation they’ve built.”

“Sugared + Bronzed is a disruptor in the highly fragmented beauty services space,” he said. “We are excited to support the team as they continue to grow their base of loyal clients in both existing and new geographic markets.”

WWD reports that the Main Post investment will allow SUGARED + BRONZED to expand to more retail locations and introduce new product lines. Reporter, Allison Collins, writes that “[in] the next 18 months, the plan is to double the business, expanding nationally with more retail locations, and launching the small product assortment online.” The article mentions that Sugared + Bronzed has completed over one million services so far—and that by the end of 2019, the company will likely have completed 300,000 services in a single year.

The new investment is the first Sugared + Bronzed has accepted since its inception in 2010. In a statement, CEO, Sam Offit, remarked on the unique fit between his company and Main Post.

“We are thrilled to partner with Main Post,” he said. “It is incredibly rare to find investors who are dedicated to preserving our company culture and maniacal focus on quality. They immediately understood our vision of investing in our team, training, and products to create unparalleled client experiences in our sector.”

To read the full press release from Sugared + Bronzed, click here. The WWD article, “Sugared + Bronzed Attracts Private Equity Investors,” can be found here. For more information about the investment and the Sugared + Bronzed story can click here.

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