TSG Consumer has signed a definitive agreement to acquire a majority interest in Saltair, a body care brand founded by entrepreneur and model Iskra Lawrence. Financial terms of the transaction were not disclosed.
Following completion, Lawrence will serve as Saltair’s Chief Community Advocate, with an expanded focus on the company’s consumer relationships and brand community.
Founded in 2022, Saltair develops body care products combining skincare ingredients with fragrances at accessible prices. Its product portfolio includes skincare treatments, shower products and fragrances sold through retail and e-commerce channels.
TSG plans to use its experience developing beauty and personal care companies to support Saltair’s next phase of growth while maintaining the brand’s positioning, product quality and inclusive identity.
Saltair was previously supported by beauty accelerator The Center and consumer investment firm Prelude Growth Partners.
The company will continue to be led by CEO Rachel Shelowitz. Saltair said the partnership will give the business additional resources to expand while preserving the community loyalty and product strategy that have driven its growth.
Raymond James served as Saltair’s exclusive financial adviser. Mintz and Polsinelli served as legal counsel to Saltair, while Ropes & Gray advised TSG.
The transaction remains subject to regulatory approval and customary closing conditions.
TSG manages approximately $14 billion in assets and has previously invested in beauty and personal care brands including e.l.f. Cosmetics, IT Cosmetics, Pureology, Smashbox Cosmetics, DUDE Wipes, PHLUR and Summer Fridays.
KEY QUOTES:
“We created Saltair to make body care feel more elevated, more joyful and more personal. That vision has resonated deeply with our community.”
Iskra Lawrence, Founder and Incoming Chief Community Advocate of Saltair
“Partnering with TSG marks the next chapter: they share our ambition and bring the experience to propel this business to new heights.”
Rachel Shelowitz, CEO of Saltair
“Body care is one of the most exciting categories in beauty right now, and Saltair stands out for elevating the everyday routine with effective formulations that have driven real consumer demand and loyalty.”
Colin Welch, Managing Director and Head of New York at TSG Consumer
