Case Study: Paula's Choice

Bertram Capital employed The Bertram Capital High 5sm to build a unique content-driven ecommerce platform offering innovative skin care and cosmetics.


Paula’s Choice is a content-driven ecommerce platform offering proprietary products, extensive skin care research, and exclusive reviews of more than 45,000 products from other brands.


November 2012


May 2016 Majority Recapitalization to TA Associates


Bertram Capital acquired Seattle, WA based skincare and cosmetics company, Paula’s Choice in November of 2012 and quickly deployed its value creation strategy, the Bertram High 5sm to grow the company’s online sales while expanding the business to a thriving international and multi-channel operation. The company’s revenue grew 3 times during Bertram’s initial three and a half year investment period before completing a majority recapitalization with private equity firm, TA Associates in May of 2016.

Sales Channel

Sales & Marketing:

Launched products in Nordstrom and on QVC. Produced first print marketing campaigns. Dramatically accelerated website traffic.



CEO, CIO, Creative Director, VP Supply Chain, VP Sales, Controller


Acquired Paula’s Choice European Distributor

Added SE Asia Distributors

Opened direct sales to Australia

image of continents, Australia, Europe, and SE Asia



Average monthly unique visitors up 4.5x from online marketing initiatives. Implemented automated online re-ordering.

image of visitors up 4.5x

Supply Chain


Launched third party logistics initiatives decreasing delivery times in half and improving working capital.


Grew revenue 3x during Bertram’s three and a half years of control ownership.