Cowen is pleased to announce that Alline Salon Group (“Alline” or the “Company”), led by private equity firm Vision Growth Partners, has raised financing to (i) support the acquisition of 133 salon locations from Regis Corporation; (ii) refinance existing debt; and (iii) support future working and growth capital needs of the platform.
Prior to this transaction, Alline had purchased 258 Regis-owned salons across Michigan, Ohio and West Virginia while successfully consolidating the stores under three core franchise brands: Supercuts®, Cost Cutters® and Holiday Hair®. The addition of the new locations – 126 in Pennsylvania and the remainder in New Jersey, Delaware and West Virginia – makes Alline the largest global franchise partner for Regis Corporation as well as the largest individual franchisee for each of Alline’s three brands
Alline Salon Group is a growth-oriented company devoted to the success of its employees, and the salons that serve its clientele. Alline’s locations strive to create an exceptional customer experience from start to finish through a culture that is friendly, trendy, high energy and professional. The leadership team leverages more than 185 combined years of experience in the hospitality, wireless and other retail industries to drive growth in a demanding and competitive environment.
Regis Corporation (RGS), headquartered in Minneapolis, Minnesota, is the beauty industry’s global leader in beauty salons and cosmetology education. As of September 30, 2019, the Company franchised, owned or held ownership interests in 7,092 worldwide locations. Regis’ franchised and corporate locations operate under concepts such as Supercuts®, SmartStyle®, Cost Cutters®, Roosters® and First Choice Haircutters®. Regis offers a wide range of haircare services including haircuts, styling and coloring, as well as a wide selection of nationally recognized professional haircare products.
Vision Growth Partners is a lower, middle-market private equity company and the managing partner of Alline Salon Group. Based in Birmingham, Michigan, Vision Growth Partners specializes in the acquisition of service-oriented businesses. With a primary focus on the retail, healthcare, professional services, and sales organization sectors, Vision Growth Partners invests in companies on a trajectory of growth that it can help scale operationally.