NEW YORK (The Deal) -- TSG Consumer Partners is still shopping its beauty brands, but has switched strategies and is trying to sell the brands separately instead of as one business, according to sources.
The San Francisco-based private equity firm has hired investment bank Financo to shop JA Cosmetics' EyesLipsFace Cosmetics, or e.l.f., while Duff & Phelps has been mandated to sell skin care brand Pevonia International. Goldman Sachs is sending out books on another skin care company NW Perricone MD, sources said.
Goldman Sachs is also shopping TSG's hair care brands - Kenra Professional, Alterna and Sexy Hair Concepts.
The private equity firm could not immediately be reached for comment.
It was early in 2013 that the businesses were officially put on the block. At the time, Goldman Sachs was hired to sell all the brands together as one company, sources said. But TSG then decided to split up the auction into separate processes, the sources added.
A number of private equity-related middle market deals in the personal care sector are likely to come to fruition in 2014, as The Deal previously reported.
Additional beauty brands up for sale include Catterton Partners' anti-aging product maker StriVectin, which is also being shopped by Goldman Sachs. Sources previously had put StriVectin's Ebitda at around $25 million.
Encore Consumer Capital-owned Tarte Cosmetics and San Francisco Equity Partners-owned Yes To also continue to search for buyers, sources said.