Gryphon Investors to acquire Revision Goodier

The firm buys and combines a skincare brand and contract development manufacturing organization.

Gryphon Investors agreed to acquire Revision Goodier to support the independent skincare brand’s mission of bringing clinically proven and high-performing products to a global customer base while enhancing CDMO growth. William Blair is providing financial advice to Gryphon, while Financo and Raymond James are advising Revision Goodier.

PRESS RELEASE

San Francisco – November 8, 2021 – Gryphon Investors (“Gryphon”), a leading middle-market private equity firm, today announced that it has signed a definitive agreement to acquire Revision Skincare and Goodier Cosmetics (collectively “Revision Goodier”). In partnership with Revision Goodier’s leadership team, including CEO Maria Carell, Gryphon will continue to invest in the company’s mission of developing and delivering clinically-proven and highly-efficacious skincare products to a global customer base and advance the company’s contract development and manufacturing (“CDMO”) capabilities. Financial terms of the transaction were not disclosed. The transaction is expected to close in the fourth quarter of 2021.

For more than two decades, Revision Skincare® has provided dermatologists, plastic surgeons and medical spas with clinically proven, high-performing skincare products. Using only premium quality ingredients, the Revision Skincare collection was formulated to provide targeted solutions for enhancing skin’s appearance and reducing signs of aging. Based in Irving, Texas, Revision Skincare is sold in more than 10 countries.

Since 1922, Irving, TX-based Goodier Cosmetics has been a trusted developer and manufacturer in cosmetic and OTC topical skincare solutions. Differentiated by an industry renowned Innovation Center of Excellence, Goodier, along with its team of R&D chemists, engineers and regulatory experts, remains at the forefront of market trends, new technologies, ingredients and advancements in formulation science.

Gryphon Operating Partner Mike Ferry said, “Revision has a unique position as a high-growth independent company in a compelling market. Skincare consumers are becoming more discerning about the products they use, and we are excited to invest in Revision’s mission to help bring carefully formulated and highly efficacious skincare products to a global customer base.”

Eddie Douglas, Principal in Gryphon’s Consumer Group, noted, “We are thrilled to partner with Maria and her outstanding team to support Revision’s movement to bring scientific credibility, quality, innovation, and elegance to the professional skincare market. We are equally excited about the opportunity to build on Goodier’s differentiated capabilities and deliver world-class service to some of the fastest growing brands across the prestige beauty and personal care space.”

Ms. Carell commented, “We are delighted to partner with the team at Gryphon as we enter our next phase of growth. Gryphon is an ideal partner given their knowledge of skincare, consumer health, and professionally-endorsed brands, and their investment will allow us to accelerate the incredible momentum we have built over the last few years.”

Matt Farron, Partner and Head of Gryphon’s Consumer Group, added, “Revision Goodier represents a bullseye opportunity for Gryphon and leverages our proactive focus of investing behind leading efficacious skincare brands. We are proud to be partnering with the Revision Goodier management team, leaders in the clinical, efficacious skincare category, and to be supporting the team through their next phase of growth.”

Revision Goodier’s management team will continue to be led by CEO Maria Carell. As part of the transaction, a number of Gryphon Executive Advisors will join Gryphon Operating Partner Mike Ferry, Gryphon Deal Partner Matt Farron, and Gryphon Principal Eddie Douglas on the Board of Directors. The transaction marks Gryphon’s third investment in skincare products and services and first investment in the physician dispensed skincare category.

William Blair & Company, LLC is serving as the exclusive financial advisors to Gryphon. Financo Raymond James is serving as financial advisors to Revision Goodier. Kirkland & Ellis LLP is acting as legal advisor to Gryphon, and Sidley Austin LLP is acting as legal advisor to Revision Goodier.

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Revision Skincare® (“Revision”): One of the first brands to be sold through doctors’ offices, Revision Skincare® is known for its ground-breaking, effective and scientifically proven formulations, changing the way clinical skincare results are achieved. Revision offers products that are enabling patients and consumers to achieve beautiful skin without ever compromising the skin’s long-term health. The portfolio includes well-known franchises such as Nectifirm®, Intellishade®, D·E·J and Revox™.

Goodier Cosmetics (“Goodier”): Goodier is a leading skincare CDMO with a long history of creating quality products with significant commercial success. Goodier is known for developing innovative formulations that utilize the latest ingredients and technologies, and for bringing products from concept to a saleable finished good. Customers, including high-growth emerging brands and established market-leading brands, turn to Goodier for its flexible customer-centric service and full turn-key experience. Goodier stands out as one of the preferred CDMOs specializing in high-end topical solutions.

About Gryphon Investors

Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $7.5 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.