- Gryphon Investors will sell its majority stake in RoC to Bridgepoint
- The transaction is expected to close in February
- Gryphon acquired RoC from Johnson & Johnson in 2020
UPDATED. Bridgepoint will make a strategic investment in RoC Skincare, a skincare brand based in Paris. The deal was for around $500 million, PE Hub Europe understands.
Gryphon Investors, RoC’s existing backer, will sell its majority stake in RoC to Bridgepoint as part of the transaction.
Bridgepoint will invest in RoC via Bridgepoint Europe VII (BE VII). The transaction is the sixth acquisition by BE VII.
Gryphon Investors acquired RoC from Johnson & Johnson and established it as an independent business in 2020.
Since then, RoC has seen organic growth, supported by a revival of the brand’s positioning and a growing consumer trend towards clinically proven skincare products, according to a release. RoC’s revenue grew by 70 percent since 2020.
“The company’s unique, clinically proven products for ageing skin conditions are a highly appealing customer proposition with significant growth opportunities,” said Fabrice Turcq, partner at Bridgepoint. “With Bridgepoint’s support, RoC is poised to accelerate growth in Europe and beyond, strengthen its online presence and expand its product offering.”
Bridgepoint plans to support RoC in accelerating its growth in its heritage European markets and in France in particular, the release said.
RoC will benefit from Bridgepoint’s European presence and knowledge in the dermatology sectors.
The transaction is expected to close in February.
Bridgepoint was advised by Jefferies (M&A advisor), Latham & Watkins (legal advisor), BCG (commercial), EY (financial and tax due diligence), ERM (ESG due diligence) and Marsh (insurance due diligence).
San Francisco-based Gryphon is a private equity firm that invests in mid-market companies in partnership with management.
Bridgepoint is a listed international alternative asset manager focused on middle-market companies and is based in London.
(Note: Bridgepoint owns PEI Group, the publisher of PE Hub Europe.)
Editor’s note: The article was updated to include the deal price.