Company News

Castanea Partners Announces Investment in Drybar

Newton, MA – February 1, 2012 – Castanea Partners announced today that it has purchased a minority interest in Drybar, a leading blow-dry bar retailer concept.

Founded in 2008 by Alli Webb, a long-time professional stylist, the company established itself as the market leader in the emerging "blow-dry only" segment of the beauty industry. Drybar is known for its stylish, high quality and affordable blow-dry services and was named one of the top “100 Brilliant Ideas of 2010” by Entrepreneur Magazine. The company operates locations across the country and has become a regular stop for many celebrities.

"This is an exciting investment opportunity for us," said Steve Berg, Partner at Castanea. "The team at Drybar has done an incredible job of capitalizing on a void in the marketplace and filling it with a service that truly delights their customers."

"After a long and comprehensive search it became clear that Castanea was the ideal partner for us," said Michael Landau, Drybar’s Chief Executive Officer. “Castanea provides unique operational, consumer-focused experience that will help us achieve the next level of growth."

As part of the transaction, Janet Gurwitch will be joining Drybar's board. Janet Gurwitch is the founder and former CEO of Laura Mercier Cosmetics, a leading global beauty brand. Prior to that she was the Executive Vice President of Neiman Marcus, and recently joined Castanea as an Operating Partner.

"Drybar has created an incredibly cool, innovative experience for the consumer,” said Gurwitch, “I am excited to be joining this impressive team to further develop the Drybar brand."

The company plans to use proceeds from the investment to continue their rapid national expansion efforts and further invest in talent and infrastructure. Terms of the transaction were not disclosed.

About Castanea

Castanea Partners is a private equity firm founded by operating executives and private equity veterans. Castanea invests between $15M to $75M of equity in companies within specifically targeted industry sectors where the firm has proven investment and operating expertise. Castanea is principally focused on investing in dynamic consumer brands and marketing services companies that enable such brands to connect with their customers. The firm also seeks to invest in select business-to-business providers of key information.

Castanea is currently investing from its third fund, a $500 million fund that targets companies with enterprise values up to $250 million.

For more information, visit Castanea Partners or contact Marion Schouten at 617.630.2420 or mschouten@castaneapartners.com.


All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.

For Potential
Portfolio Companies

  • See what some of our portfolio company business owners have to say about Castanea Partners

    Read more

Press Releases

  • Castanea Partners announces investment in Brew Dr. Kombucha

    FEBRUARY 2018 - Castanea Partners announced today that it has made a minority investment in The Townshend Group, the parent company of Brew Dr. Kombucha.

    Read More

Media Coverage

  • Janet Gurwitch's Interview on MouthMedia Network Beauty Is Your Business Podcast

    MAR 2018 - Download the podcast now on Beauty is Your Business or iTunes.

    Read More

Other News

  • Q&A with Partner at Castanea Partners, Tim Burke

    NOV 2017

    Read more

  • Janet Gurwitch speaks at 2014 Texas ACG Capital Connection

    Play Video

Castanea Partners Three Newton Executive Park, Suite 304, Newton, MA 02462
P (617) 630-2400 | info@castaneapartners.com