Jun 4 2014
Envy Medical, Inc., a leader in professional skincare products and services, announced today that it has secured new growth capital from HCP & Company, a middle-market private equity firm headquartered in Chicago. The new funding will support sales and marketing initiatives, while also allowing the company to accelerate the development and introduction of exciting new skincare offerings designed to meet the growing demand for healthier skin tone, texture, and function.
"This is the first time in Envy's history that we have taken on outside growth capital, and we did so with unanimous board and shareholder support," said Curtis A. Cluff, Chief Executive Officer. "That support is due in large part to HCP's business acumen and an understanding that they bring significant experience to the table as Envy accelerates growth towards becoming a major global player in the specialized skincare market."
HCP has developed its expertise in the personal care and beauty segments, working with high growth/large market potential companies that require capital to accelerate growth. Their investment is targeted primarily for that purpose.
"Looking across the professional skincare and physician dispensed markets, we recognize how very well positioned Envy is to be a dominant player in its market," commented Carlos Signoret, HCP Partner and Co-founder. Jim Bland, HCP Principal added, "HCP is proud to be partnering with a talented and innovative Envy management team."
"This is an exciting time for the Company," said Ken Karasiuk, Envy Founder and Chairman of the Board. "SilkPeel is a superior non-invasive microdermabrasion technology that is safe and effective for all skin-types. Lumixyl is one of the first real alternatives to the increasingly controversial hydroquinone products more typically dispensed for the treatment of skin tone irregularities. Additionally, the ClarityMD Acne Solution has proven not only to be effective, but also to enjoy overwhelmingly positive patient feedback and acceptance."
Acting as advisors for the transaction were Intrepid Investment Bankers, LLC. With this capital investment, Envy will continue its commitment to developing cutting edge aesthetic and therapeutic skincare offerings for dermatologists, as well as other medical skincare professionals and their patients.