By  on March 14, 2018

Cover FX may be ready for its next chapter.

The makeup business, which private equity firm L Catterton has backed since 2011, is said to have hired investment bank Jefferies to explore sale options. Sources said the business is expected to do $65 million and $70 million in gross sales with more than $10 million in earnings before interest, taxes, depreciation and amortization for 2018. A spokesman for Jefferies declined to comment. CoverFX declined to comment on the M&A process.

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