Since the venture capital firm bought the US make-up company its revenues have increased more than five-fold, with 2014 sales volumes expected to top $100m.
NYX was founded by Toni Ko founded in 1999 and now ranks among the top selling brands in North America.
HCP’s managing partner Carlos Signoret said, “We met Toni when NYX was still an emerging brand and in partnership with her, we helped to build a world class management team, enhance customer relationships and support the growth through strategic focus.”
French firm L’Oreal has been buying up stakes in cosmetics companies worldwide, acquiring Asian face mask company Magic Holdings from Baring Private Equity Asia for $854m in August 2013.
HCP launched in 2003 and its portfolio includes Language Stars, Career Training Academy and Polaris Hospital Company.
Copyright © 2014 AltAssets