UK investment firm Bridgepoint Group has announced its agreement to obtain skincare company Obagi Medical from investment fund Waldencast.
Bridgepoint Group shares that this transition aims to expand its presence within the clinical skincare space. Additionally, Waldencast explains that the sale of Obagi Medical is to address ‘balance sheet constraints’ – referring to financial limitations and pressures.
In conjunction with the purchase, the companies outline that Waldencast co-founders Michel Brousset and Hind Sebti are leaving the company to lead Obagi Medical and develop a strategic commercial partnership with aesthetics manufacturer Laboratoires VIVACY, another company owned by Bridgepoint.
Brousset commented, “Our thesis has never wavered. From day one, Waldencast existed to build and scale purpose-driven brands and give them the platform to become the best versions of themselves. Selling Obagi Medical and partnering with Bridgepoint to lead it into its next chapter isn’t a departure from that thesis, it’s the purest expression of it.”