Winky Lux, a New York-based cosmetics and skincare company, has been acquired by CORE Industrial Partners.
Winky Lux is best known for its high-quality, clean, and cruelty-free products including lip balms, mascaras and eyebrow pencils, under-eye concealers, facial and skin cleansers and moisturizers.
The company’s products are sold online and through major retailers including Target, ULTA, and Shoppers Drug Mart. Winky Lux was founded in 2015 by CEO Natalie Mackey and Nate Newman and is headquartered in New York City.
“This partnership enables us to meet customer demand, scale our operations, maximize existing retailer partnerships with Target, ULTA, and Shoppers Drug Mart, and reach new heights in product innovation,” said Ms. Mackey.
CORE’s buy of Winky Lux follows its formation in September 2023 of Cohere Beauty to consolidate its investments in Arizona Natural Resources (2020), HealthSpecialty (2021), Marianna Beauty (2021), and Contract Filling (2022). Today, Cohere Beauty is a contract manufacturer, formulator, and distributor of customized hair care, skin care, fragrance, and cosmetic products. The Phoenix-headquartered company has operations in Arizona, California, Nebraska, and New Jersey with a combined 800,000 sq. ft. of manufacturing space.
The global beauty market is experiencing strong growth, driven by evolving consumer preferences and increasing disposable incomes. According to Statista, the beauty and personal care market worldwide is projected to grow by 3.3% annually from 2024 to 2028, reaching a market volume of $737 billion by 2028. This growth is influenced by several factors, including the rising demand for clean and sustainable beauty products, as well as the impact of social media on consumer behavior.
“The growth prospects and underlying demand drivers of the beauty industry remain highly attractive,” said John May, the managing partner of CORE. “We’re confident the strength of the Winky Lux brand combined with our resources and operational experience will assist their leadership team in executing against their long-term plans for growth. We are excited to further our participation in the beauty industry with the Winky Lux partnership.”
Chicago-based CORE makes control equity investments of up to $100 million in North America-based companies with revenues of up to $200 million and EBITDA of up to $20 million. Sectors of interest include a range of specialty verticals within the manufacturing and industrial technology sectors.
In February 2024, CORE announced the above target closings of two new funds with a combined $887 million of capital. The two funds are CORE Industrial Partners Fund III LP with $685 million of capital, and CORE Industrial Services Fund I LP with $202 million of capital.
Raymond James was the financial advisor to CORE on the buy of Winky Lux.
© 2024 Private Equity Professional | August 2, 2024
Soundcore Capital Partners has sold American Restoration, a provider of property restoration services, to Morgan Stanley Capital Partners (MSCP).
“We are proud of the platform we built with Dan, the family-owned businesses we partnered with, and the entire American Restoration team,” said Jarrett Turner, the founder and managing partner of Soundcore. “During our ownership period, we achieved impressive growth through Soundcore’s data driven processes, commitment to continuous improvement and value creation, deal execution, and our intense focus on thorough integration, alongside of the management team. We are grateful for their partnership and wish them continued success in their next phase of growth.”
New York City-headquartered 
“We are excited to partner with Dan and the American Restoration team as they continue building a best-in-class platform across the residential and commercial restoration space,” said Adam Shaw, a managing director and head of business services at MSCP. “American Restoration represents our continued effort to invest in high-quality residential and commercial services companies, a sector in which we have deep institutional knowledge and expertise building industry-leading platforms. We look forward to working together to continue accelerating the company’s exciting growth trajectory.”
NativeSeed Group, a portfolio company of Heartwood Partners, has acquired Arrow Seed, a producer and supplier of conservation and farm seeds.
“We are pleased to support NativeSeed with its second strategic acquisition, helping the platform further add scale and grow its footprint,” said James Sidwa, a managing partner at Heartwood. “We look forward to continuing to build NativeSeed Group’s portfolio of brands and continuing to invest in future growth.”
Hidden Harbor has held a final closing of Hidden Harbor Capital Partners III LP with $800 million of limited partner commitments.
“Our team is thrilled with the support we have received from both new and existing investors,” said Mr. Caple. “This is a tremendous accomplishment and a testament to the hard work our entire team has put forth in building the Hidden Harbor platform.”