H.I.G. devoted significant resources to support Ideal Image’s rapid growth
(PRWEB) November 04, 2011
H.I.G. Capital, a global private equity company, has announced the sale of Ideal Image. The portfolio company was sold to Steiner Leisure for $175 million.
Ideal Image is the nation’s biggest dedicated laser hair removal company. The business provides customers with the best quality of laser hair removal in a medical environment mixed with an upmarket retail surrounding. The company was founded in 2001 and has performed more than 2 million treatments in centers across 22 states.
The Co-Chief and Executive officers of Ideal Image Joe Acebal and Rick Mikles were very complimentary of H.I.G.’s influence. They have stated that H.I.G. has been very supportive of their company’s growth strategy and their support has been instrumental to the growth of the organisation through the recession.
Craig Burson, a Managing Director of H.I.G. Growth Partners, has stated that H.I.G. devoted significant resources to support Ideal Image’s rapid growth. Ideal Image created a robust platform which includes best-in-class medical training, IT, R&D, site selection, recruiting and customer service. Ideal Image was able to grow its corporate centre count by more than 10 times during this period and became the nation’s biggest dedicated provider in the sector.
H.I.G. Capital is a leading global private equity investment firm based in Miami. The firm has more than $8.5 billion of equity under management and has offices in Boston, Atlanta, New York and San Francisco in the US. It specialises in providing capital to medium and small sized businesses which have an attractive potential growth.