Industry:
Consumer Goods and Services
Investment Status:
Current
For more than two decades, Revision Skincare® has provided dermatologists, plastic surgeons, and medical spas with the highest standard of clinically proven, medical-grade skincare in more than 15 countries. Grounded in disruptive innovation that delivers true visible results, each product is formulated to provide unique, targeted solutions that enhance skin’s appearance and reduce signs of aging.
Goodier is a value-added service provider and manufacturing partner to the professional skincare industry, specializing in product development and formulation for new and cutting-edge technologies. Goodier’s customers include a combination of established and emerging brands, helping entrepreneurs and companies in need of expert formulation and large-scale filling and manufacturing.
When Gryphon invested in 2021, Revision Skincare & Goodier Labs were integrated businesses that collectively represented a unique opportunity within the beauty and personal care space. In partnership with the respective management teams, we have fully separated the professionally dispensed skincare brand (Revision) and the product development and manufacturing partner to the professional skincare industry (Goodier).
Key Initiatives
- Invested in brand positioning and customer alignment at both companies.
- At Revision, focus areas include new product innovation, expanding the salesforce and deepening key account relationships.
- At Goodier, focus areas include R&D, innovation, and marketing support.
- Significantly diversified Goodier’s customer base and instituted a continuous operational improvement process.
Outcome
- The two companies are now stand-alone entities: Revision Skincare and Goodier Labs.
- At both companies, Gryphon and management have been able to grow revenue and gross profit margin substantially.
- The operational and process changes that have been implemented will help accelerate performance at both businesses for the long term.
- Revision sales have increased more than 20% and Goodier EBITDA has increased more than 50% throughout our partnership.