MPK Equity Partners has recapitalized Denver-based Sola Salon Studios, an franchisor and operator of salon suites. No financial terms were disclosed for the transaction that was done in partnership with AHR Growth Partners and PNC Riverarch Capital.
DALLAS, TX, October 9, 2018 – MPK Equity Partners (“MPK”), a Dallas-based private investment firm, announced today that it has completed a recapitalization of Sola Salon Studios (“Sola” or the “Company”), the leading franchisor and operator of salon suites across the United States.
Headquartered in Denver, Colorado, and founded in 2004, Sola has nearly 450 locations across 43 states and Canada, with plans to continue expansion both domestically and outside of North America. With over 10,000 stylists across its network, Sola is the fastest growing salon suites business in the country. The Company boasts unmatched franchisee and stylist support and plans to continue its strong growth trajectory by opening more than 50 new locations per year.
“We could not be more thrilled to make this investment,” said Doug Kennealey, Managing Partner at MPK, who will join the Sola board of directors. “The founders and management team have built an absolutely fantastic business, and we’re excited to become their partners as the Company embarks on this exciting next phase in its evolution.”
“The MPK team are exactly the right partners we were looking for—strategic, patient, and supportive investors who share our vision for where we want to take Sola in the years to come,” said Randall Clark, CEO of Sola. “With their support, we’re now poised to continue our strong growth while maintaining a collaborative culture with our franchisees and stylists.”
Sola marks the 5th franchisor investment by the principals of MPK and continues their focus on investing in founder-owned and closely held businesses.
MPK partnered with AHR Growth Partners and PNC Riverarch Capital on the transaction.
About MPK Equity Partners
MPK Equity Partners is a Dallas, Texas-based private investment firm which takes a targeted, thematic approach to partnering with exceptional entrepreneurs and executives to invest in growing, profitable companies in the consumer, tech-enabled business services, energy, education, healthcare, and specialty distribution / manufacturing sectors. MPK’s patient and flexible approach allows for control, non-control, and growth equity investments across the United States and, unlike a traditional private equity fund, is not impacted by the interests of institutional funding sources. The MPK team has a long history working together, and the firm looks to harness this collective experience to partner with entrepreneurs and management teams as they grow their unique businesses. To learn more about MPK, visit mpkequitypartners.com.