Sola Salon Studios Named “Dealmakers Of The Year” In 2019 By Franchise Times
May 28, 2019 // Franchising.com // Denver, CO - Sola Salon Studios was recently recognized by Franchise Times Magazine as a winner of their “Dealmakers of the Year” award, a prestigious recognition honoring the boldest players that drove mergers and acquisitions in the franchising world. The winners were announced at their recent Franchise Times Dealmakers Awards in Las Vegas.
The awards luncheon was held in early May where winners in several categories were announced. The Franchise Times Dealmakers awards are selected by a panel of judges from nominations submitted each year. The awards event highlights excellence in buying and selling franchise companies to drive sustainable growth.
Sola Salon Studios was founded in 2004 by Stratton Smith and Matt Briger and is the nation's leading and most recognized salon studio/suite provider in North America, with a current community comprised of over 12,000 beauty professionals across 450+ locations.
In 2018, Sola Salon Studios announced that a consortium of 3 investment groups made a significant strategic investment in the company. The three groups were MPK Equity Partners, AHR Growth Partners and PNC Riverarch Capital, which now hold a majority stake in the company.
“We are honored to be recognized as a Dealmaker of the Year by Franchise Times and are excited as we embark on this exciting next phase of Sola Salon Studio’s evolution and growth,” said Doug Kennealey, Managing Partner at MPK Equity Partners, who joined the Sola Board of Directors. “The founders and management team have built an absolutely fantastic, successful business that has provided exceptional opportunities for entrepreneurial, independent beauty professionals.”
About Sola Salon Studios
In 2004, Sola Salon Studios was established with the opening of our first location in Denver, CO. Now with more than 450 locations open in the US and Canada, we are proud to offer salon professionals the freedom and benefits of salon ownership without the upfront costs and risks associated with opening a traditional salon. Our innovative salon model empowers hairdressers, estheticians, nail techs, massage therapists and other like-minded professionals to take control of their lives and their careers. We provide beauty professionals with high-end, fully-equipped salon studios alongside the support and tools they need to launch their salon business in no time.
About PNC Riverarch Capital
PNC Riverarch Capital is a private equity firm which invests in privately held companies headquartered in North America. PNC Riverarch Capital invests across a variety of industry sectors, including consumer products and services, outsourced business services, specialized manufacturing, and value-added distribution. PNC Riverarch Capital is a division of PNC Capital Finance LLC, a wholly owned indirect subsidiary of The PNC Financial Services Group, Inc. (NYSE: PNC). Since 1982, PNC has invested in excess of $1.3 billion of equity capital in more than 100 companies.
About MPK Equity Partners
MPK Equity Partners is a Dallas, Texas-based private investment firm which takes a targeted, thematic approach to partnering with exceptional entrepreneurs and executives to invest in growing, profitable companies in the consumer, tech-enabled business services, energy, education, healthcare, and specialty distribution / manufacturing sectors.
About AHR Growth Partners
AHR Growth Partners invests in and advises emerging consumer brands. The firm targets growing lifestyle brands that have demonstrated proof of concept but may be too early for traditional private equity. AHR’s proprietary network has deep experience in both minority and control situations.
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