Encore Consumer Capital has invested in Lorac Cosmetics. Finanncial terms weren’t announced. Valencia, California-based Lorac is a prestige color cosmetics brand founded by celebrity makeup artist Carol Shaw. Intrepid Investment Bankers LLC advised Lorac.
SAN FRANCISCO–(BUSINESS WIRE)–Encore Consumer Capital (“Encore”), a private equity firm that invests exclusively in leading consumer products companies, is pleased to announce that it has made an investment in LORAC Cosmetics (“LORAC”).
LORAC, based in Valencia, CA, is a leading prestige color cosmetics brand founded by celebrity makeup artist Carol Shaw. LORAC is an authentic Hollywood-inspired brand with high-quality, gentle formulations across all color cosmetic categories. Known as the “Red Carpet Authority”, LORAC helps women look and feel like a star, from the red carpet to real life.
Carol Shaw said, “My colleagues and I at LORAC are excited to be partnering with Encore Consumer Capital. I am very proud of LORAC’s success, and look forward to working with the company’s new CEO, Tim McMeekan, to bring the brand to even greater heights. The best of LORAC is yet to come.” Carol will continue on as Founder, maintaining key roles in product development and public relations.
Kevin Murphy, Managing Director at Encore Consumer Capital, said, “We are thrilled to have the opportunity to be involved with this special brand that Carol Shaw first introduced to the world 20 years ago that has since earned a unique place in the prestige beauty world. I have great confidence that Tim McMeekan and the entire LORAC team will further enhance LORAC’s trusted relationships with its retail partners and customers through the introduction of the highest quality and most innovative products.”
“I am very excited to partner with Carol, the LORAC team and Encore”, added Tim McMeekan, LORAC’s new CEO. “Carol is an authentic icon of the industry, a first-mover in prestige cosmetics who has built an outstanding brand. We are passionate about what LORAC stands for: high-quality and accessible professional makeup artist formulations that bring Red Carpet looks to everyday life. Our team looks forward to continued growth and success.”
Intrepid Investment Bankers LLC advised LORAC, while Brownstein Hyatt Farber Schreck, LLP acted as legal counsel to Encore and Irell & Manella LLP acted as legal counsel to LORAC.
About Encore Consumer Capital
Encore Consumer Capital is a San Francisco-based private equity investment firm focused on the consumer products industry. The firm has raised over $600 million in committed equity capital and has invested in 24 platform companies. Encore is currently investing out of its $260 million third fund, which closed in 2015. The firm targets companies with between $10 million and $100 million in annual revenues where Encore’s strong operating expertise in strategy development, brand marketing and distribution expansion can help drive performance.