Lee Equity Partners has acquired Cosmetic Solutions, a custom and private label manufacturer of cosmetic products.
Cosmetic Solutions’ (CS) products include skin care, body care, specialty hair care, over-the-counter, and professional use formulations and maintains a library of thousands of active formulations that are sold to over 1,000 customers worldwide. The company’s services include research and development, formulation, packaging, product marketing and education, manufacturing and delivery.
CS has a 95,000 square foot manufacturing facility in Boca Raton, FL and is led by Chairman Mervyn Becker and CEO Warren Becker. Both executives will continue to lead the company and retain an equity interest in the business in partnership with Lee Equity.
“We have devoted more than 25 years to establishing our brand as an internationally recognized expert in the research, development and production of technologically advanced skincare products,” said Warren Becker. “With Lee Equity’s knowledge and experience in the industry, we look forward to maintaining our standard of excellence with our longstanding customers while expanding to meet the increasing market demand.”
“Cosmetic Solutions has evolved into one of the highest-quality and most innovative service providers to high-growth skincare brands,” said Collins Ward, a partner at Lee Equity. “Management’s stellar reputation for consistent product quality, coupled with state-of-the-art R&D and turnkey manufacturing capabilities, make Cosmetic Solutions a forerunner in the large and growing premium skincare market. We look forward to partnering with Mervyn, Warren and the entire Cosmetic Solutions family to accelerate their growth plans.”
New York-based Lee Equity focuses on control buyouts and growth capital financings, typically investing $50 million to $100 million of equity per transaction in US-based companies with enterprise values of $100 million to $300 million. Sectors of interest include business services, financial services, and healthcare services.
Los Angeles and New York-based investment bank The Sage Group was the financial advisor to Cosmetic Solutions.
© 2019 Private Equity Professional | October 22, 2019
