HCP signs deal to sell assets of NYX Cosmetics to L’Oréal

US-focused private equity firm HCP & Company has signed an agreement to sell its investment in NYX Cosmetics to cosmetics manufacturer L’Oréal.

The deal is part of the company’s plan to sell its entity.

NYX Cosmetics, which was created in 1999 by entrepreneur Toni Ko, is a beauty brand rooted in professional makeup artistry as well as on-trend professional color cosmetics.

HCP Managing Partner and NYX board member Carlos Signoret said: "We met Toni when NYX was still an emerging brand and in partnership with her, we helped to build a world class management team, enhance customer relationships and support the growth through strategic focus."

NYX founder and chairwoman Toni Ko said: "HCP has been an amazing partner to work with in growing the business. They have added tremendous value, and I would recommend this team to any entrepreneur or business owner."

NYX board member and HCP Principal Jim Bland said: "The entire NYX team has done a tremendous job of rapidly growing the company while remaining true to their brand and its values.

"We are fortunate to have worked with such a passionate and dedicated team and are confident they will thrive with their new partners."

NYX is expected to generate revenues of over $100m in 2014.

Since HCP’s initial investment, NYX has reported revenue increase of over five-times while expanding its shelf presence and distribution.