L Catterton-Backed FYi Medical Aesthetics Completes Merger With Functionalab Group
GREENWICH, Conn., Jan. 5, 2023 /PRNewswire/ -- L Catterton, a market-leading consumer-focused investment firm, today announced that its portfolio company FYihealth Group has completed the previously announced merger of its Medical Aesthetics division with Functionalab Group. The merged company will continue as Functionalab Group and operate as the largest aesthetic medicine network in Canada, across 68 premium clinics.
L Catterton and L’Oréal (an existing partner to Functionalab Group through its corporate venture capital fund) are strategic partners and investors in the merged company.
“Completing this merger is an important milestone for both businesses,” said Rajan Shah, Principal at L Catterton. “As partners to FYihealth Group since 2020, we have seen strong secular tailwinds driving consumer demand in the aesthetics category. We look forward to supporting Functionalab Group in continuing to deliver high-quality patient care and to execute on the merged company’s strategic goals.”
About L Catterton
L Catterton is a market-leading consumer-focused investment firm, managing more than $30 billion of capital across three multi-product platforms: private equity, credit, and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton’s team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world’s most iconic consumer brands. For more information about L Catterton, please visit lcatterton.com.
Managing Director, Firm Communications
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SOURCE L Catterton