M&A Deal Summary

TSG Consumer Partners Acquires Radiance Holdings

On December 19, 2022, private equity firm TSG Consumer Partners acquired consumer services company Radiance Holdings from Golub Capital, PNC Riverarch Capital, MPK Equity Partners and AHR Growth Partners

Acquisition Highlights
  • This is TSG Consumer Partners’ 5th transaction in the Consumer Services sector.
  • This is TSG Consumer Partners’ 49th transaction in the United States.
  • This is TSG Consumer Partners’ 3rd transaction in Colorado.

M&A Deal Summary
Date 2022-12-19
Target Radiance Holdings
Sector Consumer Services
Buyer(s) TSG Consumer Partners
Sellers(s) Golub Capital
PNC Riverarch Capital
MPK Equity Partners
AHR Growth Partners
Deal Type Secondary Buyout
Advisor(s) North Point Advisors LLC
Harris Williams (Financial)

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) 1

Buyer

TSG Consumer Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 9.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

TSG Consumer Partners (formerly known as The Shansby Group) is a specialist private equity firm focused on acquiring and building mid-sized, branded consumer companies. TSG invests in private and publicly traded companies, and will consider both majority and minority equity positions. Specific sectors of interest include apparel, beauty, e-commerce, personal care, retail, food/beverages, restaurants, health/wellness, household products, and pet care. TSG looks for companies with sales between $20 million and $1.5 billion and can invest commit up to $500 million per transaction. TSG Consumer Partners was formed in 1987 and is based in San Francisco, California.

DEAL STATS #
Overall 54 of 56
Sector (Consumer Services) 5 of 5
Type (Secondary Buyout) 10 of 11
State (Colorado) 3 of 3
Country (United States) 49 of 51
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-08 Cadogan Tate

London, United Kingdom

Cadogan Tate is an international premium storage, moving and shipping group specializing in fine art and other valuable possessions. Cadogan Tate was founded in 1977 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-01 LuckyVitamin

Conshohocken, Pennsylvania, United States

LuckyVitamin is a global e-commerce destination for health and wellness, natural and organic products, vitamins, nutritional supplements, sports and fitness nutrition, food, beauty, skincare, pet and natural home. LuckyVitamin offers premium quality products and service at an exceptional value. Striving to bring good health to the masses, its mission is to be the inspirational and supportive source for products and knowledge dedicated to helping everyone on their journey towards happy wellness. LuckyVitamin was founded in 2005 and is based in Conshohocken, Pennsylvania.

Sell -

Seller(S) 4

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 36 of 41
Sector (Consumer Services) 4 of 4
Type (Secondary Buyout) 17 of 19
State (Colorado) 2 of 2
Country (United States) 36 of 39
Year (2022) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-19 Spear Education

Scottsdale, Arizona, United States

Spear Education is dentistry’s source for continuing education that serves dentists of all clinical skill levels and transforms practices and the lives of patients by offering physical hands-on courses, extensive peer-to-peer regional learning, and comprehensive online educational tools. Spear Education is based in Scottsdale, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-04 SureWerx

Coquitlam, British Columbia, Canada

SureWerx is a supplier of professional safety products, tools, and equipment. The company offers access to its brands through its partner distributor network servicing the industrial, construction, safety, and automotive aftermarket markets globally. SureWerx was founded in 1957 and is based in Coquitlam, British Columbia.

Sell -
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 16 of 18
Sector (Consumer Services) 2 of 2
Type (Secondary Buyout) 12 of 12
State (Colorado) 2 of 2
Country (United States) 15 of 16
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-17 MTA

Pinellas Park, Florida, United States

MTA is a provider in the Medical Gas and Controlled Environment industries providing compliance solutions for patient life safety across the U.S. As a single source provider, MTA delivers a wide range of Medical Gas, Environmental Monitoring and Controlled Environment testing and equipment solutions to healthcare facilities centered on service excellence. MTA was founded in 1983 and is based in Pinellas Park, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-09 Backerhaus Veit

Mississauga, Ontario, Canada

Backerhaus Veit is a producer of artisan, European-style breads, rolls, buns, and soft pretzel products for top-tier retail and foodservice customers across North America. Backerhaus Veit was founded in 1987 and is based in Mississauga, Ontario.

Buy -
SELLER

MPK Equity Partners

Investor Investor

Category Private Equity Firm
Size Small
Type Sector Agnostic
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 2 of 3
Sector (Consumer Services) 2 of 2
Type (Secondary Buyout) 1 of 2
State (Colorado) 2 of 2
Country (United States) 2 of 3
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-02 PatchMaster

Mendham, New Jersey, United States

PatchMaster is a provider of wall surface repair and related services to the residential and commercial markets. PatchMaster was founded in 2016 and is based in Mendham, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-07 Unleashed Brands

Bedford, Texas, United States

Unleashed Brands is a platform of family-focused franchisor brands that enrich the lives of children across three core pillars: “Learn, Play, Grow.” Unleashed’s portfolio of brands currently includes Urban Air Adventure Park, Snapology, The Little Gym, Premier Martial Arts, Class 101, and XP League. Unleashed Brands is based in Bedford, Texas.

Sell -
SELLER

AHR Growth Partners

Investor Investor Investor

Category Merchant Bank
Size Small
Type Sector Focused
DESCRIPTION

DEAL STATS #
Overall 2 of 3
Sector (Consumer Services) 2 of 2
Type (Secondary Buyout) 1 of 2
State (Colorado) 2 of 2
Country (United States) 2 of 3
Year (2022) 1 of 1
PREVIOUS 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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-07 Unleashed Brands

Bedford, Texas, United States

Unleashed Brands is a platform of family-focused franchisor brands that enrich the lives of children across three core pillars: “Learn, Play, Grow.” Unleashed’s portfolio of brands currently includes Urban Air Adventure Park, Snapology, The Little Gym, Premier Martial Arts, Class 101, and XP League. Unleashed Brands is based in Bedford, Texas.

Sell -
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