JD Beauty Co. is merging with Goody Products.

JD Beauty is the company behind WetBrush branded hair care accessories, Bio Ionic hair styling tools and Ouidad hair care. 

Acon Investments, L.L.C. and its affiliates, owners of Goody since their purchase of Goody from Newell Brands in August 2018, has signed a definitive agreement to buy a controlling interest in JD Beauty from Topspin Partners II, and its affiliates, a consumer-focused private equity firm, and will combine the businesses.

The merge with the iconic Goody Products will form a powerful multi-brand diversified haircare, hair accessory, and styling tool company uniquely poised to serve the beauty industry, the company says. 

Jeffrey Davidson, CEO, JD Beauty, will become CEO of the combined entities upon closing.

Davidson says, "This is an exciting day for us and the beauty industry. Together we can better serve both the professional and consumer beauty industry, with game-changing product development capabilities, dynamic marketing initiatives, and best-in-class sales support and customer service."

Ken Brotman, founding and managing partner, ACON, comments, "The combination of JD Beauty and Goody creates a formidable supplier within the industry. We look forward to working with Jeffrey and the entire JD Beauty and Goody teams to continue a growth trajectory for the integrated company."

Leigh Randall, managing partner, Topspin Partners, adds, "JD Beauty is an exceptional and innovative platform that has redefined the haircare industry.  Over the past three years, Jeffrey and the team have grown the company from its single product beginnings in detangling brushes into a multi-category, multichannel platform.  We are confident that JD Beauty will continue its growth under ACON and we wish the JD Beauty team the very best in their next chapter."

Intrepid Advisors and Lowenstein Sandler, LLP served as advisors and legal counselor to JD Beauty. Hogan Lovells LLP served as ACON's legal advisor.

The transaction is expected to close in late March 2019. Terms of the transaction were not disclosed.