client_transactions

SSG Client Transactions

Title

American Laser Skincare
Client Profile

Client Profile

ALSC is the nation's largest provider of hair removal and skin rejuvenation services. With over 150 retail clinics nationwide, the Company offers laser hair removal, cellulite reduction, body shaping, skin rejuvenation, eMatrix, BOTOX®, Juvederm and Radiesse among other services. The clinics also sell multiple beauty enhancing products including Latisse and Vivite products. Since the Company's inception in 2001, ALSC has been a leader in evaluating and launching the newest and most effective technology-based skin and hair options for its clients.
Situation

Situation

Although ALSC had a history of strong revenue growth and positive EBITDA, the recent global economic downturn had a significant impact on the Company's financial performance. With the sluggish economy, customers were less inclined to spend on the discretionary services and products that ALSC offers. In addition, the Company had several missteps with marketing and service pricing. As a result, the Company's financial performance was negatively impacted, its market share decreased and liquidity was strained causing a default under its secured loan facility. In order to sell its assets, the Company filed for Chapter 11 protection under the U. S. Bankruptcy Code in the District of Delaware on December 8, 2011. Versa, which acquired the senior debt of ALSC in mid-2011, agreed to provide the DIP financing and serve as the stalking horse bidder for substantially all of ALSC's assets.
Solution

Solution

SSG was retained as the Company's exclusive investment banker for the purpose of marketing the business and soliciting competing offers to the proposed stalking horse bid. Versa's stalking horse offer was ultimately the highest and best price for substantially all of the assets of ALSC. The sale was approved by the Bankruptcy Court on January 31, 2012. SSG's experience in condensed M&A processes and Section 363 sales in Chapter 11 enabled all key stakeholders to maximize the value of the Company while preserving the jobs of substantially all of ALSC's employees.
February 2012
has sold substantially all
of its assets to an affiliate of
Under Section 363 of the U.S. Bankruptcy Code in the
U.S. Bankruptcy Court for the District of Delaware.
The undersigned acted as exclusive Investment Banker
to American Laser Skincare LLC on this transaction.

Call to learn more

Call to learn more

If you would like to learn more about this transaction, or any of our transactions, call us today.

Philadelphia
(610) 940-1094

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New York
(212) 786-7432

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