MBK Partners Buys Medi-Peel Operator Skin Idea and Life&Bio for About $206.9m
MBK Special Situations bought both companies from Morgan Stanley PE at a reported multiple of about 8x EBITDA.
- Deal value
- $207m
- Stake
- —
- Implied 100%
- —
- Revenue
- $72m
- Op. income
- $18m
- Multiples
- EV/EBITDA 8.0x
구주
Not derived: combined price for two companies and stakes undisclosed
2025 별도 · DART-verified
2025 별도 · DART-verified
On implied equity value
DART 20260331001082
- Target
- Skin Idea (Medi-Peel) and Life&Bio · Derma cosmetics and health supplements
- Buyer
- MBK Partners · FI
- Seller
- Morgan Stanley Private Equity
- Structure
- Secondary
- Announced
- Sep 2, 2026
- Closed
- —
- Stage
- Signed
Target
Skin Idea (founded 2014) operates the derma-cosmetics brands Medi-Peel and Derma Maison; Life&Bio (founded 2016) is a health functional food maker whose subsidiary FoodCare makes baby food (Newspim).
Deal rationale
MBK Partners' Special Situations division acquired both companies as a package for about KRW 300bn, citing structural growth in Korea's wellness market as consumers prioritize health and quality of life; existing management stays (Asia Economy). Seller Morgan Stanley PE had bought 67% of Skin Idea in 2024 at an enterprise value of about KRW 150bn and about 81% of Life&Bio for about KRW 80bn, and this sale completes the exit of its Korean buyout portfolio (Asia Economy, Newspim). The price was reported at about 8x combined EBITDA.
| Revenue | $72m |
| Operating income | $18m |
| EBITDA | — |
| Net income | — |
2025 별도 · DART-verified · 20260331001082
Reported multiples
- EV/EBITDA 8.0x 2025년 두 회사 합산 EBITDA 344억원 기준 source ↗
Lead
MBK Partners’ Special Situations unit agreed to buy controlling stakes in Skin Idea, operator of derma brand Medi-Peel, and health-supplement company Life&Bio from Morgan Stanley PE for about $206.9m combined. The share purchase agreement was signed in August 2026. The reported price is about 8x EBITDA.
USD figures are converted at KRW 1,450 = USD 1.
Why this matters
It is MBK’s first Korean buyout in about two years and a fund-to-fund secondary deal from Morgan Stanley PE. A mature derma brand and supplement business trading at about 8x EBITDA shows the valuation gap with high-growth brands.
Deal terms
| Item | Figure |
|---|---|
| Deal value | about $206.9m (two companies combined) |
| Stake acquired | Controlling stakes (percentage undisclosed) |
| Reported multiple | about 8x EV/EBITDA |
| Skin Idea 2025 results (separate) | revenue $72.1m, operating income $18.3m |
Financials from Skin Idea’s DART 2025 audit report; Life&Bio is not included.