Ares Management Corporation announced a $1.6 billion debt facility that will fund the merger of Suave Brands and Elida Beauty, two portfolio companies of private‑equity firm Yellow Wood Partners. The transaction creates Evermark, LLC, a new global platform for beauty and personal‑care brands that will combine the extensive portfolios of both companies, including well‑known names such as Suave, Q‑TIPS, ChapStick, Pond’s, St. Ives, Noxzema and TIGI.
The debt package is structured as a senior secured facility, with Ares Credit funds acting as the administrative agent. While the exact interest rate, maturity, and covenants have not been disclosed, the facility is typical of Ares’ direct‑lending model, which focuses on providing flexible, high‑yield financing to growth‑stage companies in consumer sectors. The loan will provide working capital and integration capital to support the combined entity’s plans to scale product development, streamline supply chains, and expand retail and e‑commerce footprints.
The merger, completed on January 20 2026, is driven by the need for scale in a highly fragmented personal‑care market. By combining Suave’s strong mass‑market presence with Elida’s portfolio of premium and niche brands, Evermark can achieve cost synergies, broaden its geographic reach, and leverage cross‑brand marketing. Yellow Wood Partners, which acquired both companies from Unilever in 2023, has positioned the merger as a vehicle to unlock value through consolidation and operational efficiencies.
Ares’ involvement underscores its strategy of deploying capital across high‑margin consumer sectors. The firm’s credit platform, which manages more than $595 billion in assets as of September 30 2025, has a track record of structuring debt for portfolio companies that are pursuing aggressive growth. By acting as the administrative agent, Ares demonstrates its ability to orchestrate large, complex financing deals and to support the long‑term development of its portfolio companies.
The deal reflects a broader consolidation trend in the beauty and personal‑care industry, where companies are merging to achieve scale, diversify product lines, and better navigate shifting consumer preferences. The $1.6 billion financing provides Evermark with the liquidity needed to accelerate its integration and growth plans, positioning it to compete more effectively against larger incumbents and emerging direct‑to‑consumer brands.
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