Acquisition highlights private equity's push into lifestyle platforms as beauty and wellness converge into a $1.8 trillion market
PLANO, Texas, Oct. 15, 2025 /PRNewswire-PRWeb/ -- Private equity is betting big on the convergence of beauty and wellness. Perfume has always been about identity, emotion, and ritual. Magnesium-based self-care speaks to health, recovery, and resilience. Together, they signal a cultural shift: consumers now treat beauty, wellness, and self-care as one lifestyle economy, and Baymark Partners is moving early to capture that demand.
Baymark today announced that its portfolio company The Perfume Spot has acquired Magnum Solace, an emerging wellness brand specializing in essential oils, sleep aids, and mineral-based recovery products. The deal creates a platform that spans the full spectrum of self-care; from scent to sleep, reflecting how consumers are re-prioritizing their discretionary spending. Post-pandemic, 70 percent of U.S. consumers report spending more on wellness (McKinsey). Prestige fragrance is one of the few beauty categories still growing in double digits (12 percent in 2024, NPD), while sleep, stress, and recovery products are projected to expand at 8 percent CAGR through 2030 (Grand View Research).
"This deal reflects where discretionary income is flowing: not just looking good, but feeling good," said David J. Hook, Managing Director at Baymark Partners. "The Perfume Spot and Magnum Solace together create a holistic self-care platform that aligns with how people are living today, and where they're headed."
"For over 25 years, we've built trust with customers by delivering authentic fragrances at value and scale," said Steve Kraidman, Founder of The Perfume Spot. "What we've seen recently is our customers asking for more not just scent, but wellness products that support their routines. Partnering with Magnum Solace allows us to meet that demand in a way that feels natural." "We started Magnum Solace to solve a personal problem, recovery and sleep, and found a community of people who needed the same solutions," said John Miranda, Co-Founder of Magnum Solace. "Joining forces with The Perfume Spot means we can bring that to millions more customers without losing what makes us different: quality, transparency, and staying true to why we started." The collision of beauty and wellness isn't just cultural; it's financial. In 2024 alone, more than $40 billion in health and beauty M&A closed globally (PwC), with private equity driving the majority ofmid-market activity. The once-separate categories of fragrance, skincare, and wellness are being bundled into multi-brand platforms that consumers trust for both identity and well-being.
For Baymark, the transaction builds on a track record of investing in category leaders across consumer, healthcare, technology, and industrial sectors. The firm's strategy centers on identifying companies with strong customer loyalty and helping them scale into durable, diversified platforms. "The Perfume Spot, founded in 1999, has built a reputation as one of the most established independent fragrance retailers in the U.S., combining authenticity guarantees, award-winning service, and millions of loyal customers. Magnum Solace, launched in 2008, grew from a performance-driven origin story into a wellness brand recognized for mineral-based recovery and sleep products. Together, they are creating a platform that mirrors how consumers now live: from scent to sleep, ritual to recovery."
"This is the next phase of consumer consolidation," Hook added. "We expect wellness to stand alongside beauty and apparel as a core category of consumer spending by 2030. The platforms that succeed will be those that integrate categories and reflect real consumer lifestyles — and that is the model we're building."
About Baymark Partners
Baymark Partners is a Dallas-based private equity firm focused on the lower middle market. The firm invests across consumer, healthcare, technology, and industrial sectors, providing capital, operational expertise, and strategic guidance to help businesses scale and achieve long-term growth. https://baymarkpartners.com
About The Perfume Spot
Founded in 1999 and family-owned, The Perfume Spot is a leading U.S. online fragrance retailer offering authentic designer and niche perfumes at wholesale prices. Operating from a fulfillment center in Edison, New Jersey, the company has earned multiple industry awards and consumer trust through its commitment to authenticity, value, and service.
About Magnum Solace
Magnum Solace is a family-owned wellness brand founded in 2008 and based in Houston, Texas. Known for its magnesium-based self-care products, the company offers lotions, oils, creams, and bath flakes designed to support sleep, stress relief, and holistic wellness through natural ingredients and quality-focused production.
About Northbound Group
Northbound Group is a boutique investment bank dedicated to the e-commerce industry. The firm advises founders and executives of e-commerce brands, SaaS, and tech-enabled service providers on corporate development activities and M&A transactions.
MEDIA CONTACT
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Lux214 Media Group
214-906-6633
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Media Contact
Lori Barber, Lux214 Media Group, 1 2149066663, [email protected], baymarkpartners.com
SOURCE Baymark Partners
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