Knox Lane Enters Beauty Products Sector

Knox Lane has agreed to invest in Elevation Labs, a formulator and manufacturer of beauty products.

Elevation Labs provides formulation and filling capabilities to more than 100 beauty brands across more than 80 product categories including skincare, haircare and color products. The company’s capabilities and services include product formulation, sourcing, regulatory support, logistics, manufacturing, and packaging.

Elevation Labs, led by CEO Michael Hughes, operates state-of-the-art facilities in both Idaho Falls, Idaho (headquarters), and Denver, Colorado.

“Thanks to our talented team’s unmatched dedication to creating the highest quality products for our clients, we have become an industry-leading formulator and developer for some of the most dynamic, high-growth beauty brands in the world,” said Mr. Hughes. “We are excited to partner with Knox Lane to execute on our strategy, given their multiple decades of investment and operational experience in the consumer products sector and track record of building exceptional beauty and personal care brands.”

In partnership with Knox Lane, Elevation Labs will supplement its organic growth with add-on acquisitions that complement its existing geographic footprint and capabilities.

“We are thrilled to support Michael and the Elevation Labs team as they continue to partner with innovative brands in the beauty industry,” said John Bailey, the managing partner of Knox Lane. “The combination of culture, customer service, and differentiated capabilities truly sets Elevation Labs apart, and we look forward to working together to build on their strong momentum and drive continued growth.”

San Francisco-based Knox Lane, founded by Mr. Bailey and Shamik Patel in December 2019, is an investor in consumer and services businesses. Both founders were former partners at TPG Growth.

“Consumers are increasingly passionate about the ingredients going into their products, and Elevation Labs has distinguished itself as a partner of choice for some of the world’s most prominent and sustainable clean label brands,” said David Coghlan, a principal at Knox Lane.

William Blair & Company was the financial advisor to Elevation Labs and Financo | Raymond James was the financial advisor to Knox Lane.

© 2022 Private Equity Professional | July 12, 2022