COSMOGEN acquired by MBO+
Context
The Management Buy Out operation led by MBO Partenaires allows Dominique Vautier to become the manager and shareholder of the Alkos-Cosmogen group, while Gérard Gieux retains a significant stake in the capital and a strong involvement in the Group's strategy. The key executives become shareholders and will support Dominique Vautier in the implementation of an ambitious strategic plan, based on organic growth, the development of new products, and international development.
COSMOGEN, which reported an EBITDA margin of LOGIN in 2015, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Industry & Manufacturing sector (11.2x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
Cosmogen is a French company specializing in the design and provision of primary packaging and application solutions for the global cosmetics sector. Following its spin-off from Alkos Group in 2016, the firm has concentrated on creating technical and often patented products, including innovative applicators, brushes, and accessories for skincare and makeup. Cosmogen's primary client base is located in Europe and includes major international brands such as L'Oréal, Dior, Caudalie, and Clarins. The company utilizes a "fabless" business model, which allows it to focus on its core competencies of research, development, and design while maintaining a flexible and scalable supply chain. Cosmogen demonstrates a strong commitment to corporate social responsibility; it became a mission-driven company ("entreprise à mission") in 2022, legally embedding social and environmental objectives into its corporate framework. In late 2025, its efforts in sustainability were acknowledged with an EcoVadis Gold medal for its ESG performance.
Ent. Value
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Equity Value
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Multiples
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with COSMOGEN
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 05/2026 | COSMOGEN | ASQUAN | CHINA | Chemicals & Materials | This transaction represents Cosmogen's first external growth initiative since its spin-off and is a transformative step to double its operational scale. Driven by its controlling shareholder, Weinberg Capital Partners, the acquisition aims to create a new global reference in the premium beauty packaging market, the Cosmogen & Asquan Group |
| 12/2024 | WEINBERG CAPITAL PARTNERS / BNP PARIBAS DEVELOPPEMENT | COSMOGEN | FRANCE | Chemicals & Materials | Weinberg Capital Partners has arranged to acquire a majority shareholding in Cosmogen, a leading developer of innovative application solutions for the cosmetics industry. The investment, which is the third from its WCP#4 LBO fund, was made in partnership with its co-investment vehicle, WCP Co-Invest, and with co-investor BNP Paribas Développement |
REFERENCES
Revenue range: 10M - 30M EUR
EBITDA range: 0M - 5M EUR
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Target: cosmogen
Acquirer: mbo+