Milan Laser continues Growth with New Strategic Investment from Sixth Street and Wildcat Capital Management in Partnership with LGP
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Investment to Accelerate Clinic Expansion Nationwide
SAN FRANCISCO and NEW YORK and AUSTIN, Texas and OMAHA, Neb., February 22, 2023-- Milan Laser Hair Removal ("Milan Laser"), the nation's largest laser hair removal provider, today announced new strategic growth equity investments from Sixth Street, a leading global investment firm, and Wildcat Capital Management. Existing investor, Leonard Green & Partners, L.P. ("LGP"), along with the co-founders, will retain a majority interest in the company. The investment will support the acceleration of clinic expansion, marketing, and business development.
Founded in 2012 by Drs. Shikhar Saxena and Abe Schumacher in Papillion, Nebraska, Milan Laser provides laser hair removal services in a fun, engaging, and inclusive environment. Since its inception, the company has grown to more than 250 clinics in 29 states, providing more than 50,000 treatments each month and employing more than 1,700 individuals. Since 2019, Milan Laser has been backed by LGP, a leading private equity investment firm.
"We are very excited about the investment in Milan Laser. Our partnership with LGP has been fantastic and adding Sixth Street and Wildcat Capital Management to our equity investors only makes us stronger. As the largest laser hair removal company in the U.S., Milan Laser is excited about the future growth of our organization and footprint," said Dr. Shikhar Saxena, CEO and co-founder of Milan Laser. "Sixth Street and Wildcat Capital Management believe in our vision to be the number one laser hair removal company in the world and have the resources and expertise to help our team achieve this goal."
"Milan Laser's strong leadership team, commitment to offering world-class service, and well-defined plan for expansion all align with what we consider core attributes for successfully growing consumer businesses," said Kayvan Heravi, Managing Director at Sixth Street. "We are particularly excited about Milan Laser's compelling vision for the future as the company continues to expand into new markets and add new verticals to its offerings, and we look forward to partnering with management, LGP, and Wildcat to support the company's future growth."
In the transaction, North Point investment bank is serving as financial advisor, and Latham & Watkins, LLP is serving as legal counsel to LGP and the company. Wachtell, Lipton, Rosen & Katz is serving as legal counsel to the co-founders. Sixth Street was represented by Piper Sandler & Co., and legally advised by Cleary Gottlieb Steen & Hamilton LLP. Wildcat Capital Management was legally advised by Vinson & Elkins LLP.
To learn more about Milan Laser Hair Removal, visit www.milanlaser.com.
About Milan Laser Hair Removal
Founded in 2012 by two board-certified medical doctors in Omaha, Nebraska, Milan Laser Hair Removal is the nation's largest laser hair removal provider, with more than 250 locations in 29 states and 1,700+ employees nationally. Laser hair removal is all Milan Laser does, performing more than 50,000 treatments each month. Milan Laser provides life-long results for all genders and skin tones in a safe, judgment-free environment, and all Milan Laser treatments are performed by highly-trained medical professionals. For more information, visit www.milanlaser.com.
About Sixth Street
Sixth Street is a leading global investment firm with approximately $65 billion in assets under management and committed capital. Sixth Street uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth. The firm has more than 400 team members including over 180 investment professionals operating around the world. Sixth Street's Consumer platform partners with management teams and provides strategic capital to companies operating across the consumer sector. Sixth Street investments in best-in-class consumer brands have included Airbnb, FC Barcelona, Legends, Mindbody/ClassPass, Real Madrid CF, the San Antonio Spurs, and Spotify. For more information, visit www.sixthstreet.com and follow Sixth Street on LinkedIn, Twitter, and Instagram.
About Wildcat Capital Management
Wildcat was established in 2011 as a single-family investment office. The firm has a long term, flexible family-office-driven approach. Wildcat seeks to partner with leading private consumer, business services, software, healthcare, and technology-enabled companies. In addition, Wildcat has both a public markets investment team and a value-add and opportunistic real estate investment team. For additional information please contact email@example.com.
LGP is a leading private equity investment firm founded in 1989 and based in Los Angeles with over $70 billion of assets under management. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 120 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, healthcare, and business services, as well as retail, distribution and industrials. For more information, please visit www.leonardgreen.com.
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