FORT WORTH — TPG Growth, a unit of TPG, a private investment firm, has acquired a majority stake in e.l.f. Cosmetics from the company founders and TSG Consumer Partners LLC.

TPG Growth, a unit of TPG, a private investment firm, has acquired a majority stake in e.l.f. Cosmetics from the company founders and TSG Consumer Partners LLC.

Terms of the transaction were not disclosed, but e.l.f.’s current management will continue to have an ongoing role and significant investment in the company.

"Through its differentiated approach, e.l.f.’s offering has resonated among a key segment of the cosmetics market," remarks John Bailey, principal at TPG Growth. "We believe that many opportunities lie ahead, and are happy to partner with e.l.f. to build the company and accelerate its already impressive growth trajectory."