Formerly known as Standard Chartered Private Equity, the value of the acquisition was not disclosed
Hwa Sung Cosmetics has been acquired by Affirma Capital, formerly known as Standard Chartered Private Equity (SCPE), for an undisclosed amount.
The K-beauty brand specialises in colour cosmetics, selling eyeliners, lipsticks, foundations and eyebrow pencils.
Meanwhile, Hwa Sung, its manufacturer, provides products for Amore Pacific, Anastasia Beverly Hills, Shiseido and Estée Lauder.
Hwa Sung Cosmetics was advised throughout the acquisition by investment bank BDA Partners.
Howard Lee, Managing Director for BDA Partners, said he was “proud” to have advised the brand on its successful sale.
“We are confident that the business will continue to flourish under Affirma Capital/SCPE ownership,” he said.
“We are pleased to have helped achieve a highly positive outcome for the founder.”