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Private equity investment firm TSG Consumer Partners has acquired a majority stake in franchisor Radiance Holdings. The portfolio of brands under Radiance Holdings include Sola Salons and Woodhouse Spas. Financial terms of the deal were not disclosed and Radiance Holdings’ management team will continue to lead the company.
“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."
Michael Layman, managing director at TSG, said, “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. Their portfolio of differentiated brands are exceeding consumer expectations and are well positioned for further growth.”
Sola Salons has approximately 650 locations across the U.S. and Canada and Woodhouse Spas has 80 locations across the U.S.