Gauge Capital Acquires Saltyface, Its Third Sunless Tanning Brand

The acquisition is the middle-market private equity firm’s third sunless tanning deal in a little over three years and its first beauty transaction since industry veteran Andrew Stanleick, formerly president of skin health and beauty for North America, Europe, the Middle East and Africa at Kenvue, joined the firm in July as managing director and operating partner to lead consumer sector investments. Financial terms of the Saltyface transaction weren’t disclosed.

Gauge targets businesses with enterprise values of $50 million to $500 million and at least $5 million in earnings before interest, taxes, depreciation and amortization (EBITDA), according to its website. Saltyface joins Coco & Eve and Loving Tan in Soleil Collective, the firm’s stable of high-growth brands specializing in sunless tan, sun care and body care.

Multibrand beauty portfolio companies are in Gauge’s wheelhouse. It owns Performance Beauty Group, which is led by former Olaplex CEO JuE Wong and includes brands such as Grande Cosmetics, Babe Original, BondiBoost and Lilly Lashes. Gauge previously invested in hair extensions platform Beauty Industry Group in 2016 before L Catterton acquired a majority stake in the business in 2021.

Vancouver, Canada-based Saltyface was founded in 2020 by husband-and-wife duo Bethany and David Menzel, who have backgrounds in social media influencing and music production, respectively. Priced from $22 to $59, its products are sold through its own direct- to-consumer business, Amazon and select retailers including Credo Beauty, Erewhon, Happier Grocery and Revolve. Gauge’s investment will support expansion of the brand’s omnichannel distribution and product innovation .

In a statement, co-founder David Menzel says, “Gauge Capital brings the experience and resources to help us reach a wider audience and develop new products while staying true to what made Saltyface special in the first place.”

> “There’s a woman who shops at Sephora, spends money on her skincare and would happily pay more for a self-tanner that fits into that world.”

Pointing to consumer demand for a sun-kissed glow without sun exposure or compromising skincare routines, Stanleick says, “At Gauge Capital, we look to partner with founders who have built differentiated brands with strong consumer relevance and room to grow. Bethany and David have built a distinctive brand in Saltyface, bringing a skincare-first perspective to self-tanning. We see an opportunity to build on that foundation through product innovation, brand awareness and expanded distribution, while preserving what makes the brand authentic.”

The deal follows an $11 million series A investment in Dolce Glow led by Cavu Consumer Partners in August. Previous deals include Vita Liberata founder Alyson Hogg’s reacquisition of her brand from Crown Laboratories for under $12 million, Kao’s purchase of Bondi Sands for a reported roughly $300 million in 2023 and Yellow Wood Partners’ acquisition of Future Beauty Labs, parent company of self-tanning brands Tan-Luxe, Isle of Paradise and Tanologist, in 2020.

Even as some young consumers embrace tanning despite the skin cancer risk, the global self-tanning market is projected to grow faster than the beauty market overall. Fortune Business Insights estimates it was worth $1.22 billion in 2025 and projects it will reach $2.4 billion by 2034, growing at a compound annual rate of about 8% from 2026 to 2034, compared with the 5% annual growth McKinsey & Co. forecasts for the global beauty market through 2030.

Data from market intelligence firm Spate shows mounting consumer attention on sunless tanning. Interest in sunless tanner has grown 188.6% year over year across social media platforms, and as of May, sunless tanning averaged 33,800 monthly Google searches, 1.9 million weekly TikTok views and 7,100 weekly Instagram posts.

Lesley Holmes, brand advisor and founder of Beneath The Gloss , believes Saltyface has distinguished itself by appealing to prestige skincare consumers who want a subtler approach to self-tanning than the dramatic results and tropical branding traditionally associated with the category. Saltyface describes its approach as “skincare that tans,” emphasizing skin-friendly ingredients, gradual color development and a natural-looking glow. Its products are housed in elegant, minimalist packaging.

“There’s a woman who shops at Sephora, spends money on her skincare and would happily pay more for a self-tanner that fits into that world,” says Holmes. “She wants something chic, with beautiful packaging she’s happy to leave on her counter.”

Holmes sees opportunities for Saltyface to expand its customer base and encourage consumers to incorporate self-tanning into their regular skincare routines rather than reserving it for special occasions. She says, “There’s room to reach more of that consumer and make self-tanning something she uses regularly, rather than only before a vacation.”