Deloitte Corporate Finance acted as exclusive financial advisor to Southlake, Texas-based The Boardroom Salon Company in its majority recapitalization with LightBay Capital, a Los Angeles-based private equity firm. The transaction closed August 15, 2018.
Founded in 2004, Boardroom runs a chain of upscale men’s grooming salons that combine hair, shave and spa services with the nostalgia of an old-time barber shop. Boardroom operates 30 salons in urban centers across four Southern states in the U.S.
“DCF delivered high-touch advisory services at every stage of the process. Their experience working with multiunit businesses, deep private equity relationships, and strong execution capabilities enabled us to secure a fantastic outcome. We are excited to work with LightBay to continue to grow our business into a national brand,” said Bruce Schultz, co-founder and CEO of Boardroom.
“We are seeing significant market interest in multiunit consumer service concepts. LightBay emerged as a great strategic and financial partner for Boardroom as it pursues its growth initiatives,” said Tom Spivey, a managing director for Deloitte Corporate Finance.