Private investment company Broadlake has sold its majority stake in Irish skincare company Vita Liberata.
This follows the sale of Vita Liberata to US-based Crown Laboratories.
Broadlake first invested in the skincare company in 2012 to accelerate the international growth of the business, and the investment supported the company's expansion into the North American market.
Founded in 2003 by Alyson Hogg, Vita Liberata was the first completely non-toxic tanning brand, with a collection of odourless products free from parabens, perfume and alcohol.
This latest transaction marks Broadlake's second exit in as many months following the €68m sale of Merlyn Industries to Norcros in November 2017.
"We backed an ambitious team in 2012 and over the last five years have supported them during a period of phenomenal growth, " commented Pete Smyth, Broadlake founder and CEO.
"Over this time the company has successfully developed its product ranges, brands, channels and international reach. We view Crown as an ideal partner to support the company on the next stage of its growth and development," Mr Smyth added.
