Salt Lake City, UT, June 29, 2016 --(PR.com
)-- Beauty Industry Group (BIG) announced that current President, Derrick Porter, together with Gauge Capital, a Dallas based Private Equity Group, has purchased a majority share in Beauty Industry Group.
Founded in 2004, BIG is the industry leader for professional hair extensions and related beauty products in North America, with a network of over 40 independent distributors throughout the continent as well as a large direct to consumer presence.
“We’re thrilled to partner with Gauge Capital and take the next step in continuing to build a great portfolio of businesses within the professional beauty space,” said Derrick Porter. “Over the years, I’ve met with several potential investors, eventually selecting Gauge Capital. Throughout our conversations it became clear to me that they were the best partner to help us achieve our future growth objectives. I’ve never felt better about the direction of our business and with the investment of Gauge Capital and their team I feel we have created the perfect synergy to help take BIG to the next level.”
Drew Johnson, Co‐founder and Managing Partner at Gauge Capital said, “Beauty Industry Group is the market leader in a fast-growing product category with exceptionally loyal distributors and customers. We believe the salon market has significant untapped potential and customer adoption rates will continue to grow. We’re excited to partner with Derrick Porter, Logan Woolley and the rest of the team at BIG to help contribute to the next chapter of growth.”
As part of the investment, Derrick Porter has transitioned to the role of Chief Executive Officer, with Logan Woolley taking on an advisory position and continuing to fill a seat on the board.
About Gauge Capital (www.gaugecapital.com)
Gauge Capital is a private equity firm that partners with owners, managers and equity stakeholders of successful middle market companies to maximize their potential.
About Beauty Industry Group www.beautyindustrygroup.com
Beauty Industry Group is the leading supplier of professionally installed hair extensions, and other beauty and lifestyle products. The company sells through a network of over 40 independent distributors throughout North America. Established in 2004 and headquartered in Salt Lake City, Utah, BIG is dedicated to providing its customers with the highest quality products available while also providing unmatched service and value. For more information please contact Derrick Porter by phone at 801.441.6022 or by email at email@example.com.