Positions Elevation Labs for Continued Growth and Expansion; Company at Forefront of Fast-Growing Prestige Beauty Segment
SAN FRANCISCO and IDAHO FALLS, Idaho, June 30, 2022 /PRNewswire/ -- Knox Lane, a growth-oriented investment firm focused on partnering with businesses in the consumer and services sectors, today announced it has entered into a definitive agreement to invest in Elevation Labs (the "Company"), a leading formulator and manufacturer of premium beauty products. Terms of the transaction were not disclosed.
With a reputation for exceptional product quality and breakthrough innovation, Elevation Labs provides extensive formulation and filling capabilities to over 100 industry-leading beauty brands across more than 80 distinct product categories. The Company operates state-of-the-art facilities in both Idaho Falls, Idaho, and Denver, Colorado, with a deep bench of experienced chemists and lab technicians. With over 20 manufacturing certifications and end-to-end capabilities spanning product formulation, sourcing, regulatory support, logistics, manufacturing, and packaging, Elevation Labs is a go-to provider for complex and innovative products. The Company has further distinguished itself with its commitment to ESG through a variety of key initiatives, including powering its facilities entirely with renewable energy.
In partnership with Knox Lane, Elevation Labs will seek to grow its capacity, capabilities, and team in support of both existing and new brand partners, while continuing to build on the Company's reputation for best-in-class innovation, quality, and customer service. Additionally, Elevation plans to supplement its organic growth with strategic acquisitions that complement its existing geographic footprint and capabilities.
"Thanks to our talented team's unmatched dedication to creating the highest quality products for our clients, we have become an industry-leading formulator and developer for some of the most dynamic, high-growth beauty brands in the world," said Michael Hughes, President and CEO of Elevation Labs. "We are excited to partner with Knox Lane to execute on our strategy, given their multiple decades of investment and operational experience in the consumer products sector and track record of building exceptional beauty and personal care brands. We look forward to leveraging their team's industry expertise and operational insights to unlock value for our business, employees, and importantly, our valued customers – all while fulfilling our mission to create Phenomenal Customer Experiences Every Day."
"We are thrilled to support Michael and the Elevation Labs team as they continue to partner with innovative brands in the beauty industry," said John Bailey, Managing Partner at Knox Lane. "The combination of culture, customer service, and differentiated capabilities truly sets Elevation Labs apart, and we look forward to working together to build on their strong momentum and drive continued growth."
David Coghlan, Principal at Knox Lane, added, "Consumers are increasingly passionate about the ingredients going into their products, and Elevation Labs has distinguished itself as a partner of choice for some of the world's most prominent and sustainable clean label brands."
William Blair & Company, L.L.C. served as the exclusive financial advisor to Elevation Labs, and Alston & Bird LLP acted as legal counsel. Financo | Raymond James served as financial advisor and Kirkland & Ellis LLP acted as legal counsel to Knox Lane.
About Elevation Labs
Elevation Labs is a leading formulator and manufacturer of premium skincare, haircare and color products, focused on exceptional product quality, breakthrough innovation and an unwavering commitment to solving client challenges. Headquartered in Idaho Falls, Idaho, the company offers custom development and comprehensive contract manufacturing solutions in both traditional and high-performance clean beauty. Since 2018, over 150 products innovated by Elevation Labs in collaboration with partner brands have been recognized by Allure and other beauty awards around the country. For more information, please visit www.elevationlabs.com.
About Knox Lane
Based in San Francisco, Knox Lane is a growth-oriented investment firm comprised of a team of accomplished investors and operators with a shared work history and a strong track record of partnering with leading companies to accelerate transformational growth. Knox Lane seeks to provide support across a number of business components, including human capital, brand management, end-to-end digital transformation, sourcing, supply chain and logistics, strategic acquisitions and business development. For more information, please visit www.knoxlane.com
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