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March 8, 2021

Class VI Partners represents Galleon Holdings, Inc., one of the largest European Wax Center franchisees, in its Recapitalization

Class VI Partners (“Class VI”, formerly known as “CapitalValue Advisors” or “CVA”) is pleased to announce the recapitalization of Galleon Holdings, Inc. (“Galleon Holdings”, “Galleon”, or the “Company”), one of the largest European Wax Center (“EWC”) franchisees, by a private equity firm. Class VI served as the exclusive financial advisor to Galleon. “Galleon Holdings represents a true entrepreneurial success story of unwavering grit, determination, and execution. The growth Taylor and Cameron accomplished across multiple geographic regions since opening their first centers in 2011 is truly unparalleled in the franchise space. It was a great honor and privilege to represent Galleon Holdings and find a partner who will support the Company in its next phase of growth,” said Alex Woolford, Associate for Class VI. “We are enthusiastic about the Company’s continued expansion into additional geographies with its new partner.”

 

European Wax Center (https://waxcenter.com/) is the undisputed market leader and by far the largest chain of franchised hair removal salons in the United States. Since its founding in 2004, European Wax Center has grown to over 850 locations across the country. In 2011, Taylor Bartels and his wife, Cameron deGavre, developed two new European Wax Centers near Denver, CO. Over the past 10 years, the Company has expanded through both acquisition and development into additional geographic territories. Taylor and Cameron have been proven operators of European Wax Centers, establishing a culture of professionalism, inclusion, success, and fun.

 

The Company’s new partnership will further enable the Company’s organic value-creation initiatives, allow the Company to pursue a robust acquisition and development pipeline, and further expand its presence into new markets. As part of the new partnership, the private equity group is committing new equity capital to support growth. The current management team will continue to lead the day-to-day operations of the business and will be meaningful shareholders in the recapitalized entity.

We couldn’t have chosen a better firm to represent us in the recapitalization of our business than Class VI Partners,” said Taylor Bartels, President, Co-Founder, and CEO. “They took the time to understand the unique operations model of European Wax Center and presented our portfolio of centers to a select group of preferred potential partners: those with experience in smaller footprint, high-growth franchise concepts. Class VI managed the entire process, from business and personal preparation, market outreach, and in-person meetings through due diligence and legal structuring, to achieve a winning outcome for both us and our new partner. Throughout the process, the team at Class VI Partners always represented our interests well, had our back, and worked tirelessly to close the deal. We ended with a partner with whom we’re thrilled and see ourselves successfully growing for years to come. I would highly recommend Class VI Partners to any entrepreneur interested in the sale or recapitalization of his or her business.”

Our new partner has all the attributes we were looking for in this process: a heavy focus on a healthy culture, a desire to grow responsibly, a humility about themselves and their success, and alignment on how to achieve our optimal growth plan. The buyer took significant interest in understanding the business of European Wax Center and shared with us some of their best practices from years of investing in various franchise concepts. Together, we expect to expand successfully throughout our target markets and have a lot of fun together,” added Taylor.

The transaction closed on February 10, 2021. Robinson Waters & O’Dorisio served as legal counsel to Galleon Holdings, Inc., and Proskauer Rose LLP served as legal counsel to the buyer.

These testimonials may not be representative of the experience of other customers. Testimonials are no guarantee of future performance or success. This testimonial is NOT a paid testimonial.

Looking for more information about this transaction?

Please contact Alex Woolford at 303.243.5615 or [email protected]

Class VI provides middle-market investment banking services, including mergers and acquisitions advisory, corporate advisory, business valuation, and private capital raising services through its affiliate, Class VI Securities, LLC and Member FINRA. Class VI is also affiliated with and offers wealth management services through Class VI Family Office, LLC, a Registered Investment Advisor with the Securities & Exchange Commission. 

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