LORAC Cosmetics is celebrating its 20th anniversary this year – and the brand is set to grow, since it just announced its new partnership with the private equity firm Encore Consumer Capital.

The investment will provide LORAC with the resources needed to take the brand to the next level. The brand’s headquarters will remain in Valencia, California, and the brand’s creator, Carol Shaw, will still be involved

Carol Shaw commented, “I’m very proud of LORAC’s success and look forward to working with the company’s new CEO, Tim McMeekan. The best is yet to come!”

Tim McMeekan, who will take over the position of CEO, added, “Carol is an authentic icon in the industry and a first-mover in prestige cosmetics who has built an outstanding brand. Our team looks forward to continued growth and success.”