Audax Private Equity, an alternative investment manager with offices in Boston, New York, San Francisco and London, has made a strategic growth investment in Salon Lofts, a developer and operator of company-owned salon suites.
Based in Columbus, Ohio, Salon Lofts has over 210 stores across 10 states and provides nearly 5,500 “loft owners” with access to private salon suites. The salon-suite model aims to support beauty care professionals (BCPs) in operating their own businesses, setting their own hours and prices, using their preferred products and retaining more profits. This investment works to support Salon Lofts in its focus on providing BCPs with the space and services to support and grow their businesses outside of the traditional salon model.
“This partnership will allow us to meet the growing demand from BCPs to become their own business owners,” comments Steve Schillinger, CEO of Salon Lofts. “With the support of Audax, we will continue to expand our salon footprint through acquisition, new unit openings and service offerings.”
Raymond James acted as financial advisor and Ledbetter Wanamaker Glass served as legal counsel to Salon Lofts. Ropes & Gray LLP served as legal counsel and North Point Advisors and Fifth Third Securities served as advisors to Audax.