TSG Consumer Partners has acquired a majority stake in Radiance Holdings, a high-growth platform representing a collection of brands across beauty, wellness, and self-care.
WHO: Radiance Holdings is based in Denver, Colorado, committed to investing in its brands, driving innovation, and helping its franchisees and community of independent beauty professionals grow their businesses and improve their lives. Radiance Holdings' current portfolio is approximately 85% franchised and includes Sola Salons, Woodhouse Spas, and BeautyHive, an online distributor of professional beauty products.
Sola Salons, founded in 2004, is one of the largest and fastest-growing salon studios franchises globally, with approximately 650 locations across the US and Canada. Sola Salons rents premium suites to individual beauty care professionals, providing them with more autonomy and better economics than traditional salons.
Woodhouse Spas was founded in 2001 and is the largest premium day spa brand in the US, with approximately 80 locations. Woodhouse Spas feature a multi-modality platform anchored by massage and skincare, which brings resort-level quality to convenient neighborhood locations.
TSG Consumer Partners, LP is a leading private equity firm with approximately $20 billion in assets under management that partners with founders and management teams to build and accelerate growth for best-in-class consumer-facing businesses. Since its founding in 1986, TSG has been an active investor in the consumer industry.
IN THEIR OWN WORDS: "TSG has an impressive track record of building and scaling world-class beauty and franchising brands, and we are thrilled to work with them," said Christina Russell, CEO of Radiance Holdings. "We couldn't be more excited to leverage TSG's resources and expertise as we look to expand our platform and enhance our value proposition for franchisees, beauty care professionals, and consumers across our portfolio. As we build on our momentum and the powerful growth opportunities ahead, it's critical that we collaborate with a partner that understands our business and has been down a similar road many times with brands that we admire."
"Radiance Holdings is empowering a new generation of beauty professionals seeking to work independently and offer their clientele more control over their salon experience, a trend accelerated by the pandemic," said Michael Layman, Managing Director at TSG. "Their portfolio of differentiated brands are exceeding consumer expectations and are well positioned for further growth."
Pierre LeComte, Managing Director at TSG, commented, "We look forward to partnering with Christina and the management team to continue scaling their national platform in beauty and personal care through a variety of initiatives, including thoughtful digital marketing efforts developed in collaboration with TSG's Digital Team, accelerated franchise development, strategic acquisitions, and service line extensions."
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