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Wednesday, Oct 4, 2023

Envy Medical Receives Investment

Envy Medical Inc. announced on Wednesday it has received an undisclosed investment from HCP & Co., a Chicago private equity firm. The Westlake Village skin care company will use the funding for research and development, sales and marketing. The company’s existing product line includes non-invasive skin rejuvenation therapies such as microdermabrasion technology and treatments for skin tone and acne. Envy Chief Executive Curtis A. Cluff said the investment marks the first time the company has taken outside equity capital, a decision made with unanimous board and shareholder support. “That support is due in large part to HCP’s business acumen and an understanding they bring significant experience to the table as Envy accelerates growth towards becoming a major global player in the specialized skincare market,” he said in a statement. The company, founded in 2002, is best known for developing a patented method of non-invasive skin therapy under the SilkPeel brand, which dermatologists and cosmetic surgeons use to treat acne, wrinkles and scarring. HCP has $125 million under management and focuses its investments in lower middle market growth companies, according to its website. Among companies in its portfolio is NYX, a professional cosmetics maker based in Commerce. Investment Bankers LLC acted as advisors in the transaction.

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