Prime Matter Labs, a contract manufacturer of beauty and personal care products and a portfolio company of Monogram Capital Partners, has acquired Cosmetic Development Laboratories.
Cosmetic Development Laboratories (CDL) is a private label and contract manufacturer of skin care, body care and hair care products with a specialization in anti-aging formulations. The company’s products include oils and butters, antioxidants, and therapeutic botanicals. CDL, led by CEO Joseph Peri, was founded in 2002 and operates an 80,000 sq. ft. facility in Torrance, California with research and development, manufacturing (with batch sizes from 20 gallons up to 3,200 gallons), filling, assembly, labeling and packaging capabilities.
Prime Matter Labs is a formulator and contract manufacturer of beauty and personal care products with a specialization with suncare, skincare, body care, and hair care formulations. The Miami-based company was founded in 2003 by CEO Mohamed Barakat, Mark Barakat, and Frank Linares. Monogram closed its initial investment in Prime in January 2020.
“Prime Matter Labs is focused on being the leading product development and production partner in the country for indie, emerging and established beauty and personal care brands,” said Mohamed Barakat. “As part of realizing that mission, expanding our operations to Southern California extends our reach, doubling our manufacturing footprint to nearly 200,000 square feet, and helps even more customers realize their goals, grow their businesses, and achieve success.”
With the close of this transaction, Cosmetic Development Laboratories will now operate as Prime Matter Labs West.
“As a leader in personal care contract manufacturing, we feel it’s important to have a physical presence on the West Coast,” added Mr. Barakat. “California is a hotbed of activity for new products with sustainable innovations, a key growth driver in our sector. It also has a strong labor market and provides supply chain flexibility for our customers.”
Monogram invests from $5 million to $30 million in companies with revenues of $5 million to $50 million. Sectors of interest include apparel and accessories, beauty and personal care, pet products, consumer healthcare, food and beverage, and restaurants. In April 2018, Monogram held a final closing of Monogram Capital Partners I LP at its hard cap of $152 million. Monogram was founded in 2014 and is headquartered in Beverly Hills, California.
© 2021 Private Equity Professional | October 29, 2021
