Monogram Capital-backed Prime Matter Labs has acquired makeup contract manufacturer Mana Products from Traub Capital.

Mana Products furloughed employees and explored sale options before shutting down operations, according to sources.

Based in Long Island, NY, Mana Products is among the largest color cosmetics manufacturers in the U.S., with its business including skincare and haircare. 

Traub Capital, a strategic private equity firm based in New York, reportedly leveraged the company’s skincare business to diversify its business.

Mana Products is one of the largest color cosmetics manufacturers in the United States, but its business extends beyond makeup to skincare and haircare as well. 

Mana Products’ clients included leading makeup brands such as Rare Beauty and Fenty Beauty. The company also built its reputation in makeup manufacturing for brands like Smashbox and Bobbi Brown when they were still emerging indie brands.

Mana Products had reportedly been attempting to sell its equipment to neighboring beauty manufacturers in the New York Metropolitan Area. Mana Products operates two facilities in New York.