ShawKwei buys Australia beauty, healthcare company

The private equity firm is taking a 100% of the company via its fourth fund, which closed on USD 812m in 2018. It focuses industrial, manufacturing, and services companies across Asia Pacific, targeting businesses with revenues of USD 50-800m.

Founded in 1986, Rauxel manufactures beauty and healthcare products, with more than 90% of products based on custom formulations developed by an in-house laboratory team. It specializes in botanicals and natural extracts, claiming to have leading haircare and skincare brands as clients. Products are positioned as supportive of beauty industry trends around sustainability.

ShawKwei set up Hong Kong-based Icons, a similarly sustainability-focused manufacturing and packaging design company, as a 100%-owned roll-up platform. The investor said it aimed to actively manage M&A so as to fully integrate businesses with a single culture and a clear customer focus. This will involve the cross-migration of processes, technologies, and expertise.

“Rauxel is an excellent business partner for International Cosmetic Suppliers (ICS), a leading provider of primary packaging design and manufacturing which ShawKwei invested in 2020.” Brian Lau, a managing director at ShawKwei and director of Icons, said in a statement.

ICS, also headquartered in Hong Kong, was established in 1991 by CEO Sue Nichols. It is active in colour cosmetics, skincare, pharmaceutical packaging and beauty accessories across Asia Pacific and North America. “We look forward to the extensive synergy between Rauxel and ICS to deliver innovative, compelling and a broad set of services to our customers,” Nichols added.

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• Topics
• Greater China
• Australasia
• Buyouts
• Consumer
• Industrials
• Support services
• Australia
• Hong Kong (China)
• ShawKwei & Partners
• manufacturing