Key Takeaways
- • McConnell Labs, the contract manufacturer behind Light Elegance nail products, has been renamed Modern Chemistry Labs (MCL) following its sale to private equity firm Impact Equity Partners.
- • MCL has acquired Attain Cosmetics, the allergy-conscious at-home gel nail brand founded by Elizabeth Morris in 2023. Terms of the transaction were not disclosed.
- • Elizabeth Morris, Attain's founder, becomes CEO of Modern Chemistry Labs, bringing a background spanning finance, salon ownership, beauty distribution, and content creation.
- • Morris estimates Light Elegance has historically generated about a third of the manufacturer's sales; Attain now joins that branded business as the company pursues growth on both its manufacturing and brand sides.
Summary
McConnell Labs has acquired Attain Cosmetics and rebranded as Modern Chemistry Labs (MCL), marking the next phase for the longtime American nail product and skincare manufacturer following its sale to Impact Equity Partners. Terms of the transactions were not disclosed. The company was born out of Light Elegance, the professional nail brand founded in 1999 by husband-and-wife Jim and Lezlie McConnell, a polymer chemist and salon owner, respectively.
As part of the transformation, Elizabeth Morris, founder of Attain and a nail-focused content creator, becomes CEO of Modern Chemistry Labs. According to the publisher's coverage, Attain is an e-commerce beauty brand that was developed by the manufacturer and founded by Morris. Attain joins Light Elegance in the company's branded business, which Morris estimates has historically generated about a third of the manufacturer's sales. Morris said the objective is "taking it from the founder story and growing it from there," adding that the company is "in major growth mode on the manufacturing side and the brand side."
Morris's background is unusual for a contract manufacturer chief executive. She spent roughly seven years in finance, including at Broadcom, before quitting her financial analyst role and opening nail salon Va-Va Varnish in 2012. She introduced "The Nail Hub Podcast" two years later and subsequently turned The Nail Hub into a distribution business. She launched Attain in 2023 with allergy-conscious at-home gel products manufactured by McConnell.
As part of the transformation, Elizabeth Morris, founder of Attain and a nail-focused content creator, becomes CEO of Modern Chemistry Labs. According to the publisher's coverage, Attain is an e-commerce beauty brand that was developed by the manufacturer and founded by Morris. Attain joins Light Elegance in the company's branded business, which Morris estimates has historically generated about a third of the manufacturer's sales. Morris said the objective is "taking it from the founder story and growing it from there," adding that the company is "in major growth mode on the manufacturing side and the brand side."
Morris's background is unusual for a contract manufacturer chief executive. She spent roughly seven years in finance, including at Broadcom, before quitting her financial analyst role and opening nail salon Va-Va Varnish in 2012. She introduced "The Nail Hub Podcast" two years later and subsequently turned The Nail Hub into a distribution business. She launched Attain in 2023 with allergy-conscious at-home gel products manufactured by McConnell.
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