Organic Growth Through Acquisition as Elevation Labs Acquires Colorado Quality Products
Idaho Falls, ID, July 30th, 2018 — Elevation Labs, LLC (“Elevation Labs”) has completed the acquisition of Colorado Quality Products, LLC (“CQP”) of Aurora, CO. This transaction closed on July 27, 2018. In conjunction with the transaction, NCL Holdings, LLC has rebranded as Elevation Labs, LLC, which will serve as a holding company for its three divisions - Northwest Cosmetic Laboratories LLC (“NCL”, located in Idaho Falls, ID), Dream Team Beaute, LLC (located in Los Angeles, CA) and now adding CQP.
Elevation Labs is a leading formulator and manufacturer of innovative skin care and color cosmetic products for prestige beauty brands. CQP is a rapidly growing manufacturer of high quality personal care products with unique capabilities in the formulation of natural and organic products. This acquisition will expand Elevation Lab’s R&D capabilities while adding many new customer relationships that can now access the combined company’s broader product offerings. CQP’s entire management team, led by its President, Worth Turner, will remain with the company and work closely with Elevation Labs other divisions to drive growth opportunities for the combined company.
“Colorado Quality Products is a perfect fit with the business we are building at Elevation Labs,” said Michael Hughes, President and CEO of Elevation Labs. “CQP brings significant expertise and certifications and has a reputation for creating innovative natural and organic products. This sector is experiencing rapid growth driven by consumers that are increasingly demanding clean and natural ingredients in their products. We can offer CQP clients access to new product categories, such as regulated over-the-counter (“OTC”) products and color cosmetics, while offering current customers of NCL and DTB a direct pathway to organic formulations” Hughes added. “We have established a great working relationship with Worth and his team, our cultures and principles are very aligned. We look forward to blending our capabilities to accelerate the growth for our customers.”
“We were looking for a partner that could help us expand our reach and Elevation Labs brings exactly the right combination of capabilities, reputation and scale to help us achieve our goals,” commented Worth Turner. “We are excited to partner with Elevation Labs in this next stage of our growth.”
“By combining CQP with NCL and Dream Team, we are building the premier formulator and manufacturer of high quality skincare, innovative color cosmetics and natural and organic personal care products,” said Michael Hughes. “We will continue to invest in new capabilities and talent in all three divisions to better serve our expanding base of prestige beauty brands.
About Elevation Labs
With more than 300,000 square feet of production capacity and 550 dedicated full-time employees, Elevation Labs is a comprehensive solution for the personal care and beauty markets. Their diverse portfolio of product capabilities and manufacturing technologies ensures that they can service all customer needs from an innovative pressed powder project to a specialized sunscreen or an organic skincare product. The company will continue to operate out of all three geographies – Idaho, California and Colorado. For more information on Elevation Labs and or any of the three partner companies please visit us at www.trustelevationlabs.com.