M&A Deal Summary

Radiance Holdings Acquires Sola Salon Studios

On July 6, 2020, Radiance Holdings acquired consumer services company Sola Salon Studios from MPK Equity Partners, PNC Riverarch Capital, Golub Capital and AHR Growth Partners

Acquisition Highlights
  • This is Radiance Holdings’ 2nd transaction in the Consumer Services sector.
  • This is Radiance Holdings’ 2nd transaction in the United States.
  • This is Radiance Holdings’ 1st transaction in Colorado.

M&A Deal Summary

Date 2020-07-06
Target Sola Salon Studios
Sector Consumer Services
Buyer(s) Radiance Holdings
Sellers(s) MPK Equity Partners
PNC Riverarch Capital
Golub Capital
AHR Growth Partners
Deal Type Add-on Acquisition

Target

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.

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Buyer(S) 1

Buyer

Radiance Holdings

Lakewood, Colorado, United States

Category Company
Sector Consumer Services
DESCRIPTION

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.


DEAL STATS #
Overall 2 of 2
Sector (Consumer Services) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Colorado) 1 of 1
Country (United States) 2 of 2
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-06 The Woodhouse Day

Victoria, Texas, United States

The Woodhouse Day Spa is an operator and franchisor of high-end day spas that bring a resort experience to a neighborhood setting. Woodhouse prides itself on providing its guests with a tranquil and transformational spa experience with well-appointed amenities, luxurious relaxation spaces, high-end retail and several signature services such as its age-defying, award-winning Minkyti Facial; Four-Handed Massage; Hand Retreat manicure; and Seaweed Leaf pedicure. The Woodhouse Day Spa was founded in 2001 and is based in Victoria, Texas.

Buy -

Seller(S) 4

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 1 of 3
Sector (Consumer Services) 1 of 2
Type (Add-on Acquisition) 1 of 1
State (Colorado) 1 of 2
Country (United States) 1 of 3
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-06 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.

Buy -
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 -
SELLER

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 12 of 18
Sector (Consumer Services) 1 of 2
Type (Add-on Acquisition) 3 of 5
State (Colorado) 1 of 2
Country (United States) 11 of 16
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-06 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.

Buy -
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 -
SELLER

Golub Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Lender
Founded 1994
PE ASSETS 55.0B 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 20 of 41
Sector (Consumer Services) 3 of 4
Type (Add-on Acquisition) 8 of 19
State (Colorado) 1 of 2
Country (United States) 20 of 39
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-06 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.

Buy -
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 -
DESCRIPTION


DEAL STATS #
Overall 1 of 3
Sector (Consumer Services) 1 of 2
Type (Add-on Acquisition) 1 of 1
State (Colorado) 1 of 2
Country (United States) 1 of 3
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-06 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.

Buy -
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 -