Salon Freedom Acquires 9 Sola Salons Locations in Houston; Expanding Operator's Presence into Texas

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Aug 14, 2023, 10:15 ET

Salon Freedom Acquires 9 Houston Owned Locations
Largest Operator of Franchised Sola Salon Studio Locations Expands
Operations into Houston, Texas, through Successful Acquisition

BOULDER, Colo., Aug. 14, 2023 /PRNewswire/ -- Salon Freedom Holdings, LLC ("Salon Freedom"), the fastest growing and largest operator of franchised Sola Salons is pleased to announce the successful acquisition of 9 Sola locations in the Houston, Texas market. This acquisition expands Salon Freedom's market presence into Texas, adding to existing operations in Pennsylvania, New Jersey, and Tennessee.

The Houston locations were previously operated by the BCCD group, having opened their first location in 2013. BCCD built a robust and successful 9-unit operation spanning the southern Houston market including units in central Houston, Katy, Sugar Land, Pasadena, and Clear Lake. This strategic purchase represents a significant milestone for Salon Freedom as it strengthens its presence in one of the nation's most dynamic and diverse markets.

"This acquisition is a testament to our commitment to empowering beauty and wellness professionals by leveraging our best-in-class platform across an expanded portfolio," said David Raduziner, Co-Founder and CEO of Salon Freedom. "Houston will be a key market for us, and this acquisition allows us to provide even more opportunities for beauty professionals to run their own businesses and achieve their dreams. Including the 13 locations we opened over the last 12 months, we now operate 60 locations serving approximately 1,400 beauty and wellness professionals across diverse markets in Pittsburgh, Philadelphia, Southern New Jersey, Central Pennsylvania, Nashville, and Knoxville, and now Houston."

"We're proud of the platform the Salon Freedom team is building," said Todd Recknagel, Chairman of the Board for Salon Freedom. "Our goal is to continue to build a great culture for our 60 locations and make our Sola Pros our number one priority. We're confident the team will deliver exceptional results with the integration of the Houston locations."

With this expansion, Salon Freedom continues to revolutionize the salon industry via the Sola Salon Studios platform by providing a turn-key environment for independently minded beauty and wellness professionals to own and operate their own businesses.

"Salon Freedom has been one of Sola's fastest growing franchises. It's gratifying to see them accelerate that growth via acquisitions and leverage their high-performing platform into new markets," said Jordan Levine, COO of Sola Salon Studios. "The Salon Freedom team has been an incredible champion of the Sola brand and a leader in the system. We congratulate them on their continued growth and success."

Since its inception in 2004, Sola has grown to more than 685 locations throughout the U.S. and Canada. Sola has remained committed to technology and innovation to better support its rapidly growing community of almost 20,000 independent beauty professionals. With proprietary tools like its SolaGenius application and BookNow website feature plus its BeautyHive™ product supply fulfillment platform, the brand continues to be regarded as the leading franchise concept in the salon studios sector.

"Franchisees like Salon Freedom continue to elevate Sola as the most dominant brand in the salon studios segment," said Christina Russell, CEO of Salon Studios. "We applaud their continued growth and commitment to supporting independent beauty pros throughout their markets."

ABOUT SOLA SALONS

In 2004, Sola Salons was established with the opening of its first location in Denver, Colorado. Now with over 685 locations open in the U.S and Canada, Sola is proud to offer nearly 20,000 independent beauty professionals the freedom and benefits of salon ownership without the risk and overhead of opening a traditional salon. Its innovative salon model empowers beauty and wellness professionals to take control of their lives and their careers by providing beautiful, fully equipped salon studios alongside the support and tools they need to launch their business in no time. For more information, please visit www.solasalons.com.

ABOUT SALON FREEDOM

Salon Freedom was formed in 2008 to develop franchised Sola Salon locations. The company announced a major investment in March 2022 by Three20 Capital Group, Geneva Glen Capital, and Stonehenge Partners. Salon Freedom operates 60 Sola Salon Studios locations in Pennsylvania, New Jersey, Tennessee, and Texas.

ABOUT THREE20 CAPITAL GROUP

Three20 Capital Group ("Three20") is a private equity firm led by franchise veterans Todd Recknagel and Kristi Mailloux. Three20 has a depth of experience in franchising, distribution, energy efficiency and multi-unit businesses. A sampling of Brands they have partnered with include Massage Envy, Office Pride, Take 5 Oil Change, Mr. Handyman, Molly Maid, Quatrro Business Services, and AM Conservation Group. www.Three20group.com

ABOUT GENEVA GLEN CAPITAL

Geneva Glen Capital ("GGC") is a Chicago-based private equity firm that invests in proven private companies with leading market positions, significant growth potential, and stable cash flows. GGC makes control investments and targets companies headquartered in the U.S. or Canada with EBITDA between $2 million and $20 million. The firm works closely with management teams to establish and execute on a clearly defined value creation and growth plan. www.genevaglencapital.com

ABOUT STONEHENGE PARTNERS

Stonehenge Partner ("Stonehenge") is an Ohio-based private equity firm serving the lower middle market. Founded in 1999, Stonehenge has a long history of partnering with leading entrepreneurs and managers who are focused on building winning teams, accelerating growth, and creating shareholder value. Stonehenge provides flexible capital that meets the needs of all stakeholders, including majority equity, minority equity, debt, and combinations thereof. Stonehenge has raised more than $1.4 billion of committed capital and is currently investing out of its sixth institutional fund. www.Stonehengepartners.com

Contact David Raduziner, CEO at [email protected] or Todd Recknagel, Chairman of the Board at [email protected]

Contact:
Brittanie Gioioso
720-764-9682
[email protected]

SOURCE Salon Freedom Holdings, LLC