Blackstone has acquired California-based ZO Skin Health, a skincare brand. No financial terms were disclosed.
IRVINE, Calif.–(BUSINESS WIRE)–ZO® Skin Health, a premium California-based skincare brand sold globally through physicians and skincare professionals, announced today that funds managed by Blackstone Tactical Opportunities acquired a majority stake in the business. Terms of the transaction were not disclosed.
Founded in 2007 by Dr. Zein Obagi, the company has strengthened Dr. Obagi’s mission to create healthy skin for all and developed a line of high-quality skincare products. “The Blackstone team supports both my vision of delivering healthy skin to all people and the business potential of the company. Together, we are committed to grow our brand globally and are excited for the next stage of growth for ZO,” said Dr. Zein Obagi.
“On behalf of ZO’s management team, we are thrilled to work with Dr. Zein Obagi and our new partner in Blackstone. We will now have greater resources and tools to help us on our path in becoming the leading global physician-dispensed brand,” said President and CEO Mark Williams.
Todd Hirsch, a Senior Managing Director at Blackstone, said: “ZO® Skin Health is one of the fastest-growing brands in the rapidly expanding professional skincare market. We are thrilled to partner with ZO, Dr. Zein Obagi and the management team to continue to serve patients.”
Ram Jagannath, Global Head of Healthcare for Blackstone Growth and Tactical Opportunities, said: “ZO® Skin Health’s results-driven products are best-in-class in the physician market, and their position as a trusted skincare brand has made them a market leader and partner to medical professionals. We look forward to investing further in the business to drive growth and believe ZO is well positioned to continue delivering premier solutions to physicians and patients.”
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $564 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
About Tactical Opportunities
Tactical Opportunities (Tac Opps) is Blackstone’s opportunistic investment platform. The Tac Opps team invests globally across asset classes, industries and geographies, seeking to identify and execute on attractive, differentiated investment opportunities. As part of the strategy, the team leverages the intellectual capital across Blackstone’s various businesses while continuously optimizing its approach in the face of ever-changing market conditions.
About ZO® Skin Health
ZO® Skin Health develops and delivers innovative skincare solutions that optimize skin health based on the latest advances in skin therapy technologies, unique delivery systems, bioengineered complexes and exclusive formulations. By providing comprehensive skincare programs for physicians and their patients, ZO® bridges the gap between therapeutic treatments and daily care, allowing patients to experience continuously healthy skin regardless of their age, ethnicity or unique skin condition. For more information, please visit www.zoskinhealth.com.