sk:n
Transaction Background
In January 2006 Graphite Capital led the management buy-out and buy-in of sk:n (formerly Lasercare). sk:n is a non-surgical cosmetic procedures business which offers a wide range of skin treatments, predominantly through the use of specialist lasers. It is the UK market leader with 36 clinics, 2 within hospitals and 34 in suburban and high street locations, serving both referred and private customers. The company employs 365 people and has its head office in Birmingham.
Deal Attractions
The transaction offered the opportunity to combine the growth potential of sk:n’s clinics with an experienced buy-in management team assembled by Graphite. The existing sk:n clinics has proven their success in a wide rage of locations and generated attractive returns on capital. They were highly suitable for a national roll-out. The company operates in a fragmented market, which is growing strongly. sk:n's highly professional, clinical approach fitted well with anticipated greater regulation.
Achievements
- the senior management team has been enhanced to enable the business to pursue rapid growth. The CEO, Operations Director, Finance Director and Marketing Director have all been appointed since the investment was made
- 19 new clinics have been opened since Graphite's investment and an extensive pipeline of further target sites throughout the UK has been established, overseen by a dedicated new-clinic opening team
- the operational model has been improved and professionalised. New initiatives included a centralised call centre, Sunday and evening trading and a complete new clinic management IT system etc
- all clinics are now overseen by a dedicated Medical Director
- a comprehensive own-label product range has been launched and the range of treatments offered has been extended
