Weinberg Capital Partners & BNP Paribas Developpement take majority stake in Cosmogen
Context
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. This transaction marks the exit of the former majority shareholder, MBO+, which had supported Cosmogen's growth over an eight-year period. The acquisition was structured as a leveraged buyout (LBO) and was deemed a strategic fit for Weinberg Capital Partners' investment criteria. The firm was attracted to Cosmogen's B2B services model, its position in a sector where Weinberg has deep expertise, its mature environmental, social, and governance (ESG) framework, and its strong focus on client satisfaction. Under the new ownership, Cosmogen is expected to accelerate its development and pursue a consolidation strategy within its sector, both domestically in France and on an international scale. Weinberg Capital Partners plans to leverage its extensive experience in executing add-on acquisitions to support Cosmogen's management team, led by CEO Priscille Allais, in achieving this next phase of expansion and solidifying its market leadership.
In the past, Cosmogen was acquired by MBO+ in 2014 as part of its expansion strategy.
Cosmogen, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of [members only].
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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
[members only]
Equity Value
[members only]
Multiples
EV / Revenue
[members only]
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with Cosmogen
Other operations with Weinberg Capital Partners / BNP Paribas Developpement
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 09/2025 | CREDIT MUTUEL EQUITY / EURAZEO / BPIFRANCE / BNP PARIBAS DEVELOPPEMENT | PROTEOR | FRANCE | Implants & Prosthetics |
| 05/2025 | AMUNDI PRIVATE EQUITY / ARKEA CAPITAL / BNP PARIBAS DEVELOPPEMENT | EDUSERVICES | FRANCE | Education Providers |
| 11/2024 | BNP PARIBAS DEVELOPPEMENT / BPIFRANCE | HENCO | FRANCE | Maintenance |
| 01/2024 | BNP PARIBAS DEVELOPPEMENT / SOCIETE GENERALE CAPITAL PARTENAIRES / BTP CAPITAL / BPIFRANCE / CREDIT MUTUEL EQUITY | DEMATHIEU BARD | FRANCE | Construction |
| 10/2023 | MONTEFIORE INVESTMENT / BNP PARIBAS DEVELOPPEMENT / SOCIETE GENERALE CAPITAL PARTENAIRES / CARVEST (CRÉDIT AGRICOLE RÉGIONS INVESTISSEMENT) | KOESIO | FRANCE | MSP (Managed Services) |
| 07/2023 | CREDIT MUTUEL EQUITY / BNP PARIBAS DEVELOPPEMENT | DIMOTRANS | FRANCE | Freight Transport |
| 03/2023 | BNP PARIBAS DEVELOPPEMENT / BPIFRANCE / BTP CAPITAL / ESFIN PARTICIPATIONS | GCC | FRANCE | Construction |
| 12/2022 | IXO PRIVATE EQUITY / BNP PARIBAS DEVELOPPEMENT | AIR SUPPORT | FRANCE | MRO (Maintenance, Repair & Overhaul) |
| 11/2022 | ARKEA CAPITAL / BNP PARIBAS DEVELOPPEMENT / IRD INVEST | MEDIASCIENCE | FRANCE | Educational Equipment |
| 09/2022 | ARKEA CAPITAL / SOCIETE GENERALE CAPITAL PARTENAIRES / BNP PARIBAS DEVELOPPEMENT | ACB GROUP | BELGIUM | Electronic Components |
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REFERENCES
Revenue range: REV €10–30M
EBITDA range: €0–5M
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Cosmogen by Weinberg Capital Partners / BNP Paribas Developpement are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: cosmogen
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