Dallas-based private investment firm, Highlander Partners, has acquired clean beauty makeup brand RMS Beauty, which is based in Charleston, South Carolina.
Founded by makeup artist Rose Marie Swift in 2009, RMS Beauty was one of the first clean makeup brands on the market. Rose Marie created the brand after suffering health issues as a result of being around and using makeup on her famous clients, products that contained chemicals her body couldn’t handle.
David Olsen, a Managing Director at Highlander, will immediately assume the role of CEO of RMS. David is a beauty industry veteran, formerly the CEO of luxury beauty retailer Cos Bar, and former Global VP of Net-A-Porter, where he launched the site’s beauty business. David joined Highlander in 2019 to help source and assess investments in the beauty industry.
David commented, “Like Rose-Marie herself, the RMS brand is unique. It was the prescient first-mover in clean beauty and continues to push the industry with its formulation standards. Yet it also creates the highest quality and most effective products, as you’d expect from a master makeup artist. With these attributes, RMS has an opportunity to scale considerably. We intend to revamp the brand, strengthen and expand RMS’ extensive retail relationships, drive the DTC business, and enhance and broaden the product assortment.”
Elaine Sack, RMS’ COO, will move to the Chief Strategic Officer role and work hand-in-hand with Rose-Marie and David through the transition. Ben Slater, a Partner at Highlander, will serve as Chairman of the Board.
Rose-Marie noted, “I am beyond excited to partner with Highlander. Over the years, many firms have tried to invest in our brand, but we’ve been self-funded and profitable since day one, and we were able to be patient and wait for the perfect fit. Highlander’s operational expertise and creative approach to investing are unique and unparalleled, and they believe in our core ethos. I look forward to a great partnership.”
Rose-Marie was awarded a Female Founder Honoree in 2020 by CEW for her efforts in clean beauty.