Australia’s laser and skin care clinic networks have become a ripe target for savvy investors. In 2017, KKR, one of the world’s leading private equity and investment firms, bought a majority stake in Laser Clinics Australia for $650 million, injecting further capital in 2019.
Australian Skin Clinics, another major player on the professional beauty scene, has built up a formidable reputation as one of the country’s leading laser removal, cosmetic injectables and skin care service providers over the past 20 years.
Silk Laser Clinics, founded in Adelaide in 2009 by Martin Perelman, has acquired Australian Laser Clinics and The Cosmetic Clinic in New Zealand for $52 million.
The buyout almost doubles the size of Silk Laser’s network from 61 outlets to 117 in Australia and New Zealand – with 14 across the Tasman.
Last year, Silk Laser raised $83.5 million in a public float and recently launched a $20 million equity raising. The acquisition of Australian Skin Clinics also strengthens the company’s presence on the Eastern seaboard, notably in Queensland and Victoria.
Both companies have a core customer base of women aged 18 to 49. With demand for injectables such as Botox, especially among young women, surging strongly during the Covid-19 pandemic, Silk Laser plans to grow its network to 150 clinics nationwide.