Baar-Zug, Switzerland, 7 November 2017
Partners Group, the global private markets investment manager, has invested in the unitranche financing of Australia-based cosmetic treatments specialist Laser Clinics Australia ("LCA" or "the Company") on behalf of its clients. The transaction supports the acquisition of LCA by global investment firm KKR.
Established in 2008 with the opening of its first clinic in Sydney, LCA is today the leading provider of non-invasive aesthetic treatments in Australia, with a network of more than 80 clinics across the country. LCA offers a range of safe and affordable treatments, including laser hair reduction, cosmetic injectables, skin treatments and complementary products. The Company operates a franchise ownership model and counts on a dedicated team of franchisees, as well as around 135 experienced doctors and nurses who perform approximately 3 million treatments annually.
Edward Tong, Senior Vice President and Head of Private Debt Asia-Pacific at Partners Group, comments: "Since its inception, LCA has demonstrated the strength of its business model, growing from a single clinic to a market leader across five major Australian states. The franchise ownership model creates a strong alignment of interest between LCA and its franchisees and the Company has shown strong historical financial performance. We firmly believe LCA can further build on its success to-date and look forward to supporting the Company in its next phase of growth."
Scott Essex, Partner and Co-Head of Private Debt at Partners Group, adds: "Private lenders are growing in their ability to support sponsor activity in the Asia-Pacific region and Partners Group is at the forefront of this effort to institutionalize the debt market. We are pleased to partner with KKR to provide unitranche financing as part of its acquisition of LCA and believe the transaction reflects our ability to provide a flexible financing solution to private equity sponsors."