M&A Deal Summary

Golub Capital, PNC Riverarch Capital, MPK Equity Partners and AHR Growth Partners Acquire Radiance Holdings

On July 6, 2020, lender Golub Capital, private equity firm PNC Riverarch Capital, private equity firm MPK Equity Partners and growth capital firm AHR Growth Partners acquired consumer services company Radiance Holdings

Acquisition Highlights
  • This is Golub Capital’s 6th, PNC Riverarch Capital’s 3rd, MPK Equity Partners’ 2nd and AHR Growth Partners’ 2nd transaction in the Consumer Services sector.
  • This is Golub Capital’s 61st, PNC Riverarch Capital’s 21st, MPK Equity Partners’ 5th and AHR Growth Partners’ 5th transaction in the United States.
  • This is Golub Capital’s 2nd, PNC Riverarch Capital’s 2nd, MPK Equity Partners’ 2nd and AHR Growth Partners’ 2nd transaction in Colorado.
Investment Fate
  • Radiance Holdings was sold to a consortium of financial buyers in 2022.

M&A Deal Summary

Date 2020-07-06
Target Radiance Holdings
Sector Consumer Services
Buyer(s) Golub Capital
PNC Riverarch Capital
MPK Equity Partners
AHR Growth Partners
Deal Type Consolidation

Target

Radiance Holdings

Lakewood, Colorado, United States
Radiance Holdings represents a collection of premier brands in the beauty, wellness, and self-care sector. Radiance's current brand portfolio includes Sola Salons, a salon studios franchise; Woodhouse, a day spa brand in the U.S.; and BeautyHive, an online distributor of professional beauty products. The company is committed to investing in its brands, driving innovation, and helping its franchisees and their community of independent beauty professionals grow their businesses and improve their lives. Radiance Holdings is based in Lakewood, Colorado.

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Buyer(S) 4

Buyer

Golub Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Lender
Founded 1994
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golub Capital is a private investment firm focused on making debt and equity investments in US based middle-market companies. Golub looks to invest between $5 and $75 million in businesses with established operating cash flow, strong customer relationships, and 'sustainable proprietary positions in their markets'. Prospective investment structures include refinancings, recapitalizations, buyouts, and growth financings. Sectors of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. Golub Capital was formed in 1994 and maintains offices in New York City, Atlanta, and Chicago.


DEAL STATS #
Overall 63 of 69
Sector: Consumer Services M&A 6 of 7
Type: Consolidation M&A Deals 4 of 4
State: Colorado M&A 2 of 2
Country: United States M&A 61 of 66
Year: 2020 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-06 Sola Salon Studios

Lakewood, Colorado, United States

Sola Salon Studios provides a unique service to entrepreneurs, giving stylists and beauty professionals high-end, fully-equipped salon studios to start their own businesses without the administrative burden and risk associated with opening a retail storefront. Sola Salon Studios was established in 2004 and is based in Lakewood, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-08 Tropical Smoothie Cafe

Atlanta, Georgia, United States

Tropical Smoothie Cafe is a franchisor of fast-casual cafes with over 1,400 locations in 44 states. It serves smoothies, wraps, sandwiches, and flatbreads across multiple dayparts. Tropical Smoothie Cafe was founded in 1997 and is headquartered in Atlanta, Georgia.

Buy -
Buyer

PNC Riverarch Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
PE ASSETS 250M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

PNC Riverarch Capital is a middle-market private equity group that invests in privately-held companies headquartered throughout North America. The Group looks to commit $10 to $50 million to help fund recapitalizations, leveraged and management buyouts, corporate divestitures and growth financings. Target sectors include business and industrial services, specialized manufacturing, and value-added distribution. PNC Riverarch was formed in 2011 and is an affiliate of PNC Financial Services Group.


DEAL STATS #
Overall 24 of 37
Sector: Consumer Services M&A 3 of 3
Type: Consolidation M&A Deals 2 of 2
State: Colorado M&A 2 of 2
Country: United States M&A 21 of 31
Year: 2020 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-06 Sola Salon Studios

Lakewood, Colorado, United States

Sola Salon Studios provides a unique service to entrepreneurs, giving stylists and beauty professionals high-end, fully-equipped salon studios to start their own businesses without the administrative burden and risk associated with opening a retail storefront. Sola Salon Studios was established in 2004 and is based in Lakewood, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-15 Forta

Grove City, Pennsylvania, United States

Forta is a developer of technology that provides solutions to consumer problems. Forta was founded in 1978 and is based in Grove City, Pennsylvania.

Buy -
DESCRIPTION

MPK Equity Partners is a private investment firm that specializes in partnering with entrepreneurs and executives to invest in and acquire growing, profitable companies across the US. Sectors of interest include aviation/aerospace, consumer/retail, education, energy, healthcare services/technology, insurance, financial services, specialty distribution/logistics, specialty manufacturing, and tech-enabled business services. The Firm will consider minority or majority where investment proceeds are used to fund organic or acquisition-led growth, recapitalize a company, buyout a shareholder, or acquire a minority piece of a business from founders or other shareholders. MPK Equity Partners is based in Dallas, Texas.


DEAL STATS #
Overall 5 of 7
Sector: Consumer Services M&A 2 of 2
Type: Consolidation M&A Deals 2 of 2
State: Colorado M&A 2 of 2
Country: United States M&A 5 of 7
Year: 2020 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-06 Sola Salon Studios

Lakewood, Colorado, United States

Sola Salon Studios provides a unique service to entrepreneurs, giving stylists and beauty professionals high-end, fully-equipped salon studios to start their own businesses without the administrative burden and risk associated with opening a retail storefront. Sola Salon Studios was established in 2004 and is based in Lakewood, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-04 Zoom Drain

Norristown, Pennsylvania, United States

Zoom Drain is an operator and franchisor of drain and sewer services. Zoom Drain focuses on the repair, maintenance, and installation – everything below the drain. Zoom Drain provides trained specialists to respond to both emergency service and planned maintenance. Zoom Drain is based in Norristown, Pennsylvania.

Buy -
DESCRIPTION

AHR Growth Partners is a private equity and growth equity firm partnering with emerging consumer and franchising brands. The Firm's investment focus spans CPG, e?commerce, franchising, and lifestyle brands, leveraging industry experience, strategic guidance, and a wide operational network. AHR Growth Partners was founded in 2014 and is headquartered in Chicago, Illinois.


DEAL STATS #
Overall 5 of 6
Sector: Consumer Services M&A 2 of 2
Type: Consolidation M&A Deals 2 of 2
State: Colorado M&A 2 of 2
Country: United States M&A 5 of 6
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-06 Sola Salon Studios

Lakewood, Colorado, United States

Sola Salon Studios provides a unique service to entrepreneurs, giving stylists and beauty professionals high-end, fully-equipped salon studios to start their own businesses without the administrative burden and risk associated with opening a retail storefront. Sola Salon Studios was established in 2004 and is based in Lakewood, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-25 Hickory

Granite Falls, North Carolina, United States

Hickory comprised of Sheds Direct and Homestead Buildings, is a vertically integrated producer, value-added distributor and retailer of outdoor storage buildings predominately serving North Carolina, Virginia, West Virginia, and Ohio as well as Indiana, Pennsylvania, Michigan, and New York through an exclusive network of 70+ dealers. Hickory is based in Granite Falls, North Carolina.

Buy -