Friend Skoler Announces Investment in Salon Lofts Group
SADDLE BROOK, NEW JERSEY, March 8, 2012 --Friend Skoler & Co., Inc., a private equity firm that invests in leading companies in the smaller end of the middle market, announced today that it has completed an investment in Salon Lofts Group. Salon Lofts Group (“Salon Lofts”) develops and leases individual salon suites with upscale finishes and appeal to individual stylists who in turn operate their own businesses. Salon Lofts currently operates 23 locations in the cities and surrounding areas of Columbus OH, Cincinnati OH and Tampa/St. Petersburg FL. Friend Skoler partnered with Salon Lofts founder and CEO Daniel Sadd, along with other third party investors, to provide equity to support the recapitalization and growth of Salon Lofts.
Founded in 2003, Salon Lofts enables individual stylists, including hair stylists, nail technicians, manicurists and pedicurists, to operate independently as an alternative to the traditional salon model. Salon Lofts offers proprietary web based salon management and marketing support tools to help stylists succeed and to promote a durable relationship between the stylists and the company. “We are excited to be investing in Daniel Sadd and the talented Salon Lofts management team as they continue to build on their leadership position in this emerging category,” said Steven Skoler, a Managing Director of Friend Skoler & Co.
About Friend Skoler & Co.
Founded in 1998, Friend Skoler & Co., Inc. is a private equity firm that invests in leading companies in the smaller end of the middle market in partnership with management. FSC typically invests between $5 million and $30 million of equity per transaction. A key element of the fund’s strategy is to leverage the firm’s extensive experience as investors in and operators of middle market companies.
Friend Skoler is headquartered in Saddle Brook, NJ. For additional information, please visitwww.friendskoler.com.
About Salon Lofts Group
Headquartered in Columbus, Ohio, Salon Lofts develops and leases individual salon suites to individual stylists.
For more information, please visitwww.salonlofts.com.
For additional information, contact:
Friend Skoler & Co., Inc.