LaserAway Announces Strategic Investment by Ares Management
LOS ANGELES--(BUSINESS WIRE)-- LaserAway, a leading provider of aesthetic dermatology, announced today a strategic investment made by funds managed by the Private Equity Group of Ares Management Corporation (NYSE: ARES) (“Ares”). Terms of the investment were not disclosed.
Founded in 2006 by brothers Scott, Todd and Brock Heckmann and Dr. Roy Winston in West Hollywood, CA, the company offers laser hair removal, laser tattoo removal, laser skin rejuvenation, body contouring, skin tightening, and injectables across 74 clinics nationwide. Guided by its vision to be the premier provider of all aesthetics treatment categories under one roof, the company has performed millions of treatments under the leadership of Dr. Will Kirby, Chief Medical Officer, and a team of 16 board certified dermatologist medical directors, who collectively supervise hundreds of licensed clinicians in cities across the country.
This partnership will help fuel LaserAway’s continued nationwide expansion, drive loyalty through its recently launched rewards program LaserLove, and advance its proprietary skin care products line LA Beauty.
"We have been extremely fortunate to partner with Seidler Equity Partners since 2018 and look forward to their continued support as long-term investors in the company,” said Scott Heckmann, Co-Founder and Chief Executive Officer. “Ares brings differentiated expertise to the LaserAway team, particularly their experience supporting multi-unit consumer and healthcare growth companies.”
“As an industry leader, we believe that LaserAway’s brand identity, deep clinical expertise, dedication to a superior customer experience and strong culture differentiates the company among its peers,” said Jordan Smith, Principal in the Ares Private Equity Group. “Our investment in LaserAway follows Ares’ strategy of supporting leading growth businesses. We are excited to partner with the Heckmanns as they continue to lead LaserAway through its next phase of growth.”
Jefferies LLC acted as exclusive financial advisor to LaserAway and O’Melveny & Myers LLP and Buchalter served as legal counsel. North Point Advisors acted as a financial advisor to Ares and Kirkland & Ellis LLP served as legal counsel.
LaserAway is a leader in aesthetic dermatology, offering customized procedures tailored to customers' individual needs. LaserAway has 74 locations across the country and specializes in a full suite of aesthetic treatments including laser hair removal, laser tattoo removal, laser skin rejuvenation, body contouring, skin tightening, injectables, and skin care products. For more information, please visit www.laseraway.com.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2021, including the acquisition of Black Creek Group which closed July 1, 2021, Ares Management Corporation's global platform had approximately $262 billion of assets under management, with approximately 2,000 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
About Seidler Equity Partners
Seidler Equity Partners and its affiliates have been investing in market-leading companies since 1992. Seidler aligns with business founders and management teams to achieve long-term growth objectives while preserving company culture. Headquartered in Marina del Rey, California, Seidler also has an office in Sydney, Australia and currently has over $3.0 billion of assets under management. For more information, visit www.SEPfunds.com.