WellBiz Brands has acquired the Amazing Lash Studio, strengthening its position by adding beauty to their growing health and wellness portfolio.

WHO: Founded in 2010, Amazing Lash Studio are retail salons that apply semi-permanent eyelash extensions with a proprietary, patented process to the client’s own lashes, replicating the curve and size of natural lashes. The business operates over 200 franchise locations in 33 states with plans to open between four and 10 more per month.

WellBiz Brands, a leader in the health and wellness industry, is a franchise portfolio company operating three distinct health and wellness brands—Elements Massage, Fitness Together, and FIT36. With its robust shared-services platform and infrastructure, WellBiz Brands is uniquely qualified to serve the growing needs of the health-conscious consumer and will continue to pursue investments that leverage this strength. To support ongoing growth, the company has significantly invested in its leadership, creating a management team with experience from many diverse and respected consumer companies.

IN THEIR OWN WORDS: “I am excited to welcome the Amazing Lash Studio brand, franchise owners and support team to the WellBiz Brands portfolio of companies,” said WellBiz Brands Executive Chairman Joe Luongo. “The addition of the nation’s leading eyelash extensions franchise brand is a natural expansion to the health and wellness businesses we already operate.”

Amazing Lash Studio Chief Executive Officer Heather Elrod states, “I’m thrilled for Amazing Lash Studio to be joining the WellBiz Brands’ portfolio. By doing so, we will be able to build on our extremely strong foundation and continue to accelerate studio growth, product innovation and franchisee support so Amazing Lash Studio remains the category leader in the eyelash extensions and retail beauty industries.”

DETAILS:

• WellBiz Brands acquired Amazing Lash Studio. Terms of the transaction were not released.
• Amazing Lash Studio will continue to be led by Chief Executive Officer Heather Elrod.
• According to WWD, Amazing said back in November that it was planning to explore a sale. At that point, the business’ franchises averaged about $743,000 in gross revenues—when they had been open for one year—and two-year-old franchises averaged $1.4 million in revenues.
• Piper Jaffray served as financial advisor to WellBiz Brands on the transaction.
• As part of the acquisition, Golub Capital provided WellBiz Brands financing through a new credit facility to fund both this transaction and future growth.