Silk Laser Clinics will nearly double its size through the acquisition of Australian Skin Clinics (ASC) and The Cosmetic Clinic in New Zealand in a deal estimated to be valued at $52 million.
WHO: Established in 1996, Australian Skin Clinics is a medi-aesthetic laser clinic franchise business recognized as a leading authority in cosmetic injectables, laser hair removal, advanced skin treatments, and fat reduction.
The Cosmetic Clinic is New Zealand owned and operated and part of a global network of over 50 clinics founded by a leading plastic surgeon in 1996.
Silk Laser Clinics was founded in 2009 in the upmarket Adelaide suburb of Hyde Park. The concept provides cosmetic services and treatments including Laser Hair Removal, Skin and Body Treatments, and Cosmetic Injectables in over 50 clinics across Australia.
WHY: The deal adds 56 locations to Silk Laser's footprint with 14 of them in New Zealand, bringing the company closer to its expansion plan of 150 doors.
IN THEIR OWN WORDS: “ASC Group is well aligned to our existing service offering and complements our existing network, whilst providing scaled entry into the Victorian and New Zealand markets,” said Martin Perelman, co-founder and CEO of Silk.
“The acquisition solidifies our market leadership as a major player in Australia with 103 clinics and entry into New Zealand with 14 clinics. This increased scale provides opportunity for further value creation through synergies and further investment in our brand and customer experience.”
DETAILS:
