Charterhouse Capital Partners (“Charterhouse”), one of the longest-established private equity firms operating in Europe, today announces its investment in Skin Tech Pharma Group (“Skin Tech”), a leading global medical aesthetics group.
Founded by Dr Philippe Deprez in 1996 and headquartered in Spain, Skin Tech is a B2B medical aesthetics group specialising in the production of hyaluronic acid-based injectables, alongside topical peelings, mesotherapy and cosmetic products. The company offers a large range of high-quality products manufactured in-house and sold under a suite of Skin Tech own brands, supported by a complementary contract manufacturing offering. Skin Tech’s products are currently sold in more than 80 countries globally.
Skin Tech operates in an attractive, fast-growing industry; the global aesthetic medicine market is valued at more than $17bn and growing at a double-digit rate per year, underpinned by positive demographic tailwinds and with high regulatory barriers to entry. Skin Tech’s product portfolio has exposure to the highest growth segments of this market across most global markets.
The partnership will leverage Charterhouse’s extensive healthcare sector expertise, where the firm has invested c.€2bn and generated a gross MoC of 3.0x and IRR of over 30% across realised fund investments since 2009. Previous investments include Cooper, a leading independent over-the-counter drug manufacturer and distributor; SERB Pharmaceuticals, a global specialty pharma group; and most recently Labomar, a leading B2B CDMO, manufacturing dietary supplements, medical devices and functional cosmetics.
Charterhouse is strongly aligned with Skin Tech’s founder, who is re-investing in the new transaction. Charterhouse will work closely with the Skin Tech team to build on the company’s impressive growth to date, both through support for Skin Tech’s ambitious organic growth strategy – supporting its entry into new markets, strengthening product innovation, and expanding the company’s operational and marketing capabilities – and in unlocking Skin Tech’s significant inorganic transformation potential via targeted M&A.
Dr Philippe Deprez, Founder and CEO, Skin Tech, commented:
“We are immensely proud of Skin Tech’s success since the foundation of the business over 25 years ago. Our product portfolio is highly regarded by practitioners around the world, and we are excited to continue driving innovation to meet the needs of our customers. We look forward to working with Charterhouse as we enter this next phase of the company’s development, capitalising on a wide range of opportunities to drive Skin Tech’s growth for the future.”
Cédric Barthélemy, Partner at Charterhouse added:
“Skin Tech has built a leading global medical aesthetics player, with an enviable position in a highly attractive and fragmented market. We look forward to partnering with Philippe and the talented Skin Tech team to leverage Charterhouse’s significant experience and expertise in growing and internationally expanding healthcare businesses. Our focus will be on unlocking value and delivering growth via a broad range of organic initiatives and targeted M&A.”
