Riata Capital Group Invests in Salon Republic, a Leading Provider … – PR Newswire

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Dec 12, 2022, 08:00 ET
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DALLAS, Dec. 12, 2022 /PRNewswire/ — Riata Capital Group (“RCG” or “Riata”), a Dallas-based private equity investment firm, today announced that it has made a strategic investment in Salon Republic (“Salon Republic” or the “Company”) in partnership with Founder and CEO Eric Taylor and the Company’s management team. West Coast-based Salon Republic is a leading operator of company-owned salon suites that provides individual salon studio venues and value-added services to beauty care professionals (“BCPs”) in upscale environments in well-located, professionally managed locations. Riata’s investment will support Salon Republic’s accelerated geographic expansion and strategic growth plans.
Based in Woodland Hills, CA, Salon Republic currently operates 24 salon suite locations and supports over 2,500 BCPs across seven major markets in four western states. In addition to providing individual studio venues in high-demand locations, Salon Republic supports its BCPs with up-scale studio environments, on-site management, a well-curated selection of products, educational teach-ins and related events, and other value-added services. RCG’s investment will help Salon Republic meet the growing demand from BCPs for its differentiated model and is another example of Riata’s focus on investing in recurring-revenue business models bolstered by strong secular trends.
Barron Fletcher, Managing Partner of RCG, said, “We have been impressed by the differentiated platform that Eric Taylor and the Salon Republic team have built, developing the business into one of the leading providers of salon suites and value-added services to BCPs in their markets. As innovators in their space since 2000, Eric and his team have capitalized on strong demand from BCPs for the salon-suite model and consistently demonstrated their commitment to helping BCPs grow their business outside traditional salon formats. Their investment in management and support infrastructure has been a key contributor to their strong and consistent performance and should allow them to continue to scale the platform profitably. We look forward to contributing to their continued successful growth in existing markets and their entry into new ones.”
RCG Managing Partner, Jeff Fronterhouse, added, “We are excited to partner with such a well-positioned and well-managed platform. We believe Eric and the Salon Republic leadership team have built an impressive business with a differentiated service offering and a strong economic model. Salon Republic locations are designed to meet the strong secular demand from BCPs seeking the independence, autonomy, and economic advantages of having their own business in upscale environments with value-added services offerings and stimulating overall beauty care ecosystems. We expect to continue to deploy additional capital in the platform to support the Company’s continued organic expansion along with pursuing strategic add-on acquisitions.”
Eric Taylor, CEO of Salon Republic, concluded, “We are excited to have Riata as our investment partner. We have had the fortune of collaborating with them on the business for a number of years prior to this investment and believe they are one of the strongest and most-successful investors in consumer platforms in private equity today.1 They are a great fit for our company culturally and strategically. Since founding Salon Republic in 2000, our goal has been to build the leading provider of salon suite services in our markets differentiated on quality, service, and customer satisfaction. Our customers, managers, and teams in the field know they have our 100% commitment, which has been a cornerstone of our success to date. Our partnership with Riata will build upon this commitment as they bring considerable experience and resources to help us continue expanding the business while allowing us to remain true to our mission and vision.”
Terms of RCG’s investment were not disclosed.
About Riata Capital Group
RCG is a leading Dallas-based private equity investment firm that partners with seasoned management teams to invest in growing, profitable, privately held companies with a focus on three industry sectors: consumer, business services, and healthcare services. The firm takes a selective approach to investing in high-potential businesses whose owners and management teams want an investment partner with the capital, experience, and track record of successful collaboration required to achieve their liquidity and value-creation objectives. Over the course of their careers, the principals of RCG have deployed over $2 billion of capital into more than 200 acquisitions totaling in excess of $6.8 billion in transaction value.2 The firm targets equity investments of $25-150 million in companies with $5-30 million of EBITDA. With significant investment experience, a balanced team with financial and operating expertise, a strong team of seasoned operating partners, and significant experience in the firm’s targeted sectors, we believe Riata provides a compelling value proposition to business owners and entrepreneurs.
About Salon Republic
Salon Republic is a leading operator of company-owned salon suites that provides individual salon studio venues and value-added services to beauty care professionals in seven large western markets clustered in California, Colorado, Texas, and Washington. The Company provides a full range of services to its stylists, including individual private salon studios, complimentary linen services, on-site product selection, full time on-site management, educational teach-ins and related events, among other services. Since opening its first location in Studio City, CA in 2000, Salon Republic has grown to 24 locations today while staying true to its total dedication to providing the highest quality suite of services and environment for both its stylists and their customers and building the strongest brand in its local market areas. For more information, please visit https://www.salonrepublic.com.
Kekst CNC
Jonathan Morgan / William Halliday
[email protected] / [email protected]
1None of the CEO or members of the Salon Republic management team referenced above have received any compensation for this feedback and are not investors in any of the current or prior funds of RCG or its principals. The reader should not assume that all current and prior investments consummated by the RCG principals were or will be profitable. Past performance is not indicative of future performance.
2Riata’s investment performance reflects the performance of a combination of portfolio investments and investment funds managed by Jeff Fronterhouse as co-managing member of Brazos Private Equity Partners, LLC (“Brazos”), Barron Fletcher as managing member of Parallel Investment Partners, LLC, formerly SKM Growth Investors, LLC, (“Parallel”), and Blake Battaglia as a partner of ABRY Partners (“ABRY”). The Principals of Riata intend to pursue the same or similar investment strategy that was pursued in the above referenced selected investments.
SOURCE Riata Capital Group
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