- North Point served as financial advisor to SEV
- SEV was founded in 2010
- LLCP invests in the middle market
Levine Leichtman Capital Partners has invested in Burbank, California-based SEV, a manager and operator of med spas that provide laser hair removal, injectables, body contouring, and other medical aesthetic services. No financial terms were disclosed.
SEV will continue to be led by founder and CEO Sevana Petrosian and the existing management and clinical teams.
SEV was founded in 2010. SEV manages or operates 27 offices across seven states with plans to continue expansion.
Andrew Schwartz, a partner at LLCP, said in a statement, “SEV has built an incredible brand, compelling service offerings, and a loyal customer base. We believe strongly in the long-term potential of SEV and are excited to work closely with Sevana and the management team to drive growth through new office openings, same-store sales acceleration, and the introduction of additional service innovations.”
Kirkland & Ellis LLP and Polsinelli LLP acted as legal counsel to LLCP on the transaction. North Point served as financial advisor to SEV, and Buchalter was legal counsel to SEV.
LLCP invests in the middle market. LLCP currently manages $8.7 billion of assets.