M&A Deal Summary

Audax Private Equity Acquires Salon Lofts

On November 30, 2022, private equity firm Audax Private Equity acquired consumer services company Salon Lofts from Friend Skoler

Acquisition Highlights
  • This is Audax Private Equity’s 4th transaction in the Consumer Services sector.
  • This is Audax Private Equity’s 153rd transaction in the United States.
  • This is Audax Private Equity’s 9th transaction in Ohio.

M&A Deal Summary

Date 2022-11-30
Target Salon Lofts
Sector Consumer Services
Buyer(s) Audax Private Equity
Sellers(s) Friend Skoler
Deal Type Secondary Buyout
Advisor(s) Raymond James - Investment Banking (Financial)
Ledbetter Wanamaker Glass (Legal)

Target

Salon Lofts

Columbus, Ohio, United States
Salon Lofts develops and leases individual salon suites with upscale finishes and appeals to individual stylists who in turn operate their own businesses. Salon Lofts also provides stylists with proprietary web-based salon management and marketing support tools. Salon Lofts was founded in 2003 and is based in Columbus, Ohio.

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Buyer(S) 1

Buyer

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 161 of 170
Sector: Consumer Services M&A 4 of 4
Type: Secondary Buyout M&A Deals 70 of 73
State: Ohio M&A 9 of 9
Country: United States M&A 153 of 161
Year: 2022 M&A 13 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-28 Medi-Weightloss

Tampa, Florida, United States

Medi-Weightloss offers customized weight-loss programs designed to address obesity and other related diseases, including heart disease, stroke, type-2 diabetes, and other specific conditions generally covered by commercial insurance payors. The Company also sells a line of proprietary nutritional supplements, healthy-food products, and vitamins that treat comorbidities caused by obesity. Medi-Weightloss was formed in 2005 and is based in Tampa, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-28 Mosaic Dental Collective

Vancouver, Washington, United States

Mosaic Dental Collective is a dental services organization (DSO) managing practices across general dentistry, periodontics, orthodontics, endodontics, prosthodontics, and oral surgery. Mosaic Dental Collective was founded in 2021 and is based in Vancouver, Washington.

Buy -

Seller(S) 1

SELLER

Friend Skoler

West Caldwell, New Jersey, United States

Category Private Equity Firm
Founded 1998
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Friend Skoler is a private equity firm that invests in profitable middle-market companies across a range of industries. The Firm looks to commit $10 to $100 million of equity capital in businesses valued between $3 and $20 million. Generally, target companies have at least $10 million in sales and $1 million of EBIT. Sectors of interest include manufacturing, distribution, business services, direct marketing, e-commerce, event photography, digital imaging, retail and branded consumer products companies. The Firm will consider transactions ranging from buyouts and recapitalizations to expansion and acquisition financings. Friend Skoler was formed in 1998 and is based in Saddle Brook, New Jersey.


DEAL STATS #
Overall 9 of 9
Sector: Consumer Services M&A 2 of 2
Type: Secondary Buyout M&A Deals 5 of 5
State: Ohio M&A 2 of 2
Country: United States M&A 8 of 8
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-25 Iconic Group

Atlanta, Georgia, United States

Iconic Group is a provider of professional event photography services to educational institutions and endurance race organizers. Iconic Group's divisions include Bob Knight Photo, Chappell Graduation Images, and MarathonFoto. Iconic Group provides professional photography services at 10,000 events and 30,000 shoot dates, taking 53 million consumer images per year under the GradImages, University Photo, WorldWide Photography, and MarathonFoto brands. Iconic Group is based in Atlanta, Georgia.

Sell -