Code Hennessy & Simmons LLC Completes Majority Equity Investment in American Laser Centers, LLC
Code Hennessy & Simmons LLC (“CHS”) announced it has completed a majority equity investment in American Laser Centers, LLC (“ALC”), the largest provider of laser hair removal and noninvasive aesthetic services in the United States. Funds for CHS’ investment in ALC come from CHS Private Equity V LP, a $1.3 billion investment fund formed in 2005.
ALC utilizes FDA-approved equipment to perform nonsurgical, aesthetic procedures including laser hair removal, skin rejuvenation, microdermabrasion and cellulite reduction therapy. The procedures are noninvasive, medically tested and performed by licensed professionals. Headquartered in Farmington Hills, Michigan, ALC currently operates more than 220 skin care clinics in 31 states throughout the U.S. and Puerto Rico. For additional information about ALC, please refer to the company’s website at www.americanlaser.com.
Gary Graves, CEO of ALC, said, “CHS has significant experience in the consumer products sector and we look forward to working together. We will continue to grow our business, both through the introduction of innovative treatments and the opening of new centers across the U.S.”
Steve Brown, Partner at CHS, said, “The aesthetic treatment market is one of the fastest growing industries in health care. With ALC’s expanding national presence and growing consumer interest in noninvasive procedures, we look forward to working together to continue ALC’s impressive momentum.”
The investment in ALC complements CHS’ portfolio of investments in the consumer products sector which currently includes The Hillman Companies, Inc., a distributor of fasteners, key blanks, signage and other small hardware components and Woodstream Corporation, a manufacturer of products for pest and rodent control, caring control for pets and wildlife and wild bird feeding. Prior CHS investments in consumer products have included Waddington North America, Inc., a manufacturer and marketer of premium rigid plastic foodservice disposables; National Picture & Frame Co., a manufacturer of picture frames, framed art and mirrors; Omega Cabinets Ltd., Inc., a manufacturer of kitchen and bath cabinets; Otis Spunkmeyer, Inc., a leading manufacturer and distributor of frozen cookie dough and sweet baked goods; Swing-N-Slide Corp., a manufacturer of residential swing sets; and Woods Equipment Company, a manufacturer of tractor-mounted attachments.
CHS is a Chicago-based private equity firm specializing in private equity investments and recapitalizations of middle market companies in partnership with management. CHS targets well-managed companies focused on growth with enterprise values between $100 million and $1 billion. With particular expertise in the Consumer Products, Business & Consumer Services, Distribution, and Infrastructure & Industrial Products sectors, CHS has completed 71 platform investments and 165 add-on investments. Founded in 1988, CHS has formed five private equity funds and currently manages over $2.5 billion of capital. For additional information about CHS, please refer to the firm’s website at www.chsonline.com.