Stila Corp. (“Stila” or “Stila Cosmetics”) and Patriarch Partners LLC (“Patriarch” or “Patriarch Partners”) today announced Patriarch’s acquisition of Glendale, CA based Stila Cosmetics from Wachovia Corp. and CIT Group. Stila was previously owned by Sun Capital Partners, Inc. Sun Capital purchased Stila from Estée Lauder Cos. in 2006.
Patriarch Partners is a private equity and investment firm based in New York. The Patriarch funds have investments in an extensive portfolio of companies, including Rand McNally, 180s, Dana Classic Fragrances, Croscill and MD Helicopters. Patriarch specializes in rebuilding companies that span across a broad spectrum of consumer and industrial sectors by providing innovative financial solutions, strategic direction and operational expertise.
“Stila is a sophisticated brand with a strong customer base. What Stila really needs is working capital,” said Lynn Tilton, CEO of Patriarch Partners. “As a Stila Girl, I am thrilled to be a part of this great company and look forward to providing Stila the strategic support and capital needed to build its future.”
Deanna Kangas, CEO of Stila Cosmetics added, “I am very pleased to work with Lynn Tilton and Patriarch Partners in continuing to grow the Stila brand worldwide. Patriarch Partners is an innovative and visionary private equity firm with the resources and expertise to continue to build Stila and propel the brand forward.”
About Stila Cosmetics:
Stila Cosmetics, founded in 1994, is a nationally-recognized color cosmetics brand known for its modern, sophisticated, accessible approach to beauty. The brand’s innovative, multi-tasking formulas, eco-friendly packaging, and fashion forward colors are available in over 500 doors in the United States, which includes 250 Sephora doors. Stila is also available in 21 international markets as well as StilaCosmetics.com, Sephora.com, Ulta.com and Beauty.com. Stila’s goal is to help every woman celebrate her own unique beauty, to look and feel like the best version of herself, and to have fun doing it.
About Patriarch Partners LLC:
Patriarch Partners is a vertically integrated distressed private equity firm with robust in-house operational turnaround expertise. Patriarch Partners founded in 2000, was built upon a proprietary patented financial model designed to manage and monetize the distressed portfolios of financial institutions. Patriarch has since evolved into a global investment firm that concentrates on direct investments in distressed businesses, managing funds with over $6 billion of equity and secured loan assets with equity investments in over 70 companies. Patriarch focuses on the acquisition of undervalued companies where time, capital and sound strategy can rescue a business and restore value, often preserving U.S. jobs while simultaneously providing demonstrated returns to investors.