TPG

TPG is the private equity firm that later bought a majority stake in e.l.f. Cosmetics at roughly a $265 million valuation in e.l.f. Cosmetics: Joey Shamah. The Dollar Store Formula That Built a Cosmetics Giant. Unlike the failed strategic-buyer process with L’Oreal, TPG wanted Joey Shamah and his family to roll equity and stay involved.

The episode frames TPG as the ownership transition that brought in Tarang Amin and helped move e.l.f. toward a public-company stage.

Connections

• e.l.f. Cosmetics, Joey Shamah, and Tarang Amin - company, founder, and CEO transition.
• TSG Consumer Partners - earlier minority investor.
• Stage-Appropriate Hiring, Founder Role Transition, Startup Governance, and Financial Gravity - concepts connected to the transition.