CDIB backs Korean cosmetic masks manufacturer

ECIS was founded in 2007 with a focus on skincare products, including premium facial masks. The company positions itself as a leading supplier for brand partners in the Korean beauty space with full in-house R&D capabilities and large-volume automated production capacity.

It follows a similar investment by CDIB last year in L&P Cosmetic, a Korean skincare company known for producing high-end facial masks under the Mediheal brand. The private equity firm is expected to leverage its experience in this space to expand ECIS’s exposure across Asia, especially in China.

“We are impressed with the strength of the management team and the growth achieved in recent years,” HY Kim, managing director at CDIB, said in a statement. “With increasing popularity of fast Korean skincare and cosmetics, ECIS is expected to be a primary beneficiary of the growing demand for ‘Made-in-Korea’ products.”

Korean beauty products have become a popular private equity target on the back of strong overseas demand. Recent activity in this space includes VIG Partners acquiring a controlling stake in facial mask maker Press & Converting in a deal worth KRW146 billion ($128 million) and IMM Investment’s $330 million acquisition of skin moisturizer specialist Able C&C.

Last year, Bain Capital Private Equity and Goldman Sachs agreed to sell their majority stake in skincare company Carver Korea to Unilever in a deal worth EUR2.3 billion ($2.6 million). The exit came only 14 months after the two investors bought into the business, paying about KRW430 billion between them.

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• Topics
• North Asia
• Consumer
• Expansion
• South Korea
• CDIB Capital
• manufacturing