Oct. 13, 2022: Blo Blow Dry Bar Acquires Canadian Beauty Business
Plus, recent investment activity by Charlesbank Capital and Centerbridge Partners
Read the top headlines from Thursday, October 13, 2022 below:
Blo Blow Dry Bar Acquires Canadian-Owned MYNC Beauty Inc.
Blo Blow Dry Bar, a hair styling franchise with more than 140 locations in the U.S. and Canada, announced that it has acquired Canadian-owned MYNC Beauty, a brow and lash bar with six locations across the greater Toronto area. According to a press release, the acquisition paves the way for new MYNC franchise system. Blo is among the top five Canadian-founded retail brands operating in the U.S. today when measured by store count.
“MYNC and Blo share similar values, corporate culture and clientele and there is tremendous opportunity to grow the business by mirroring Blo’s success as a franchise model,” said Blo Blow Dry Bar Partner and CEO Vanessa Yakobson in the release.
Charlesbank Capital Partners Invests in Photography Software Business
ImageQuix, a provider of workflow and e-commerce software for the high-volume photography industry, announced in a press release that it received investment from Charlesbank Technology Opportunities Fund, a fund managed by Charlesbank Capital Partners, a middle-market private investment firm based in Boston and New York. ImageQuix digitizes a photographer’s end-to-end workflow, including photo capture and organization, customization and package creation, and follow-up marketing, payment and integration with fulfillment partners. The funding will assist ImageQuix in accelerating the expansion of its business both organically and through M&A, according to the release.
Centerbridge Partners Invests in MacLean Power Systems
MacLean Power, a manufacturer of products for transmission, distribution, substation and communications infrastructure, announced in a press release that it has received a majority equity investment from funds advised by Centerbridge Partners, a private investment firm with offices in New York and London. The company’s previous majority owner, MacLean-Fogg Holdings, will continue to hold a minority ownership position in MacLean Power following the transaction. The investment will enable the company to continue investing in growth, according to the release.