Leading Private Equity and Venture Debt Firms Invest In World Class Laser Hair Removal Company.
TAMPA, Fla., June 6 /PRNewswire/ -- Ideal Image Development, Inc.
(http://www.idealimage.com), a leader in providing laser hair removal
services, today announced that it has secured $16 million in equity and debt
financing. The financing was led by H.I.G. Capital, one of the nations leading
private equity and venture capital firms with investments focused on high
growth technology, healthcare, manufacturing and service companies. Craig
Burson and Brian Schwartz of H.I.G. Capital will join the Company's board of
directors. ORIX Venture Finance LLC provided the venture debt financing in
this transaction.
Ideal Image is a world-class provider of laser hair removal services. It
provides these services through its upscale clinics across the world. Ideal
Image currently has 60 clinics either open or in the process of opening and is
targeting 100 locations by the end of the year.
H.I.G. Capital and its affiliated venture fund invest in category leaders
and Ideal Image is clearly the leader in providing laser hair removal
services," stated, Craig Burson, Managing Director, H.I.G. Capital. "Ideal
Image continues to demonstrate industry leadership through world-class
services to customers, tremendous execution and proven revenue momentum."
"We are delighted to be partnering with Ideal Image and H.I.G. Capital,
two leaders in their respective fields," stated Henry O'Connor, Principal,
ORIX Venture Finance. "Ideal Image has emerged as the leader in laser hair
removal, bringing a superior product to the marketplace, and H.I.G. Capital
provides sterling equity sponsorship. We are proud to be part of the team."
About H.I.G. Capital
H.I.G. Capital LLC ("H.I.G.") is a leading private equity and venture
capital investment firm with more than $2.5 billion of equity capital under
management. Based in Miami, and with offices in Atlanta, Boston, and San
Francisco, H.I.G. specializes in providing capital to small and medium-sized
companies with significant growth potential. H.I.G.'s venture arm focuses on
early and mid-stage information technology, life sciences and services
businesses that are poised for significant growth while H.I.G.'s private
equity arm focuses on investments in management-led buyouts and
recapitalizations of profitable and well managed manufacturing or service
businesses. H.I.G. also has extensive experience with financial restructurings
and operational turnarounds. Since its founding, H.I.G. has completed in
excess of 90 transactions. The firm currently manages a portfolio of more than
60 companies with combined revenues in excess of $5 billion. For more
information, visit http://www.higcapital.com and http://www.higventures.com.
About ORIX Venture Finance LLC
ORIX Venture Finance LLC, a member of the Corporate Finance Group of ORIX
USA Corporation, with offices in Silicon Valley; Newport Beach, Calif.;
Hartford, Conn.; New York; Northern Virginia; and Dallas, provides enterprise
financing to mid- to late-stage companies via acquisition and growth capital.
The ORIX Venture Finance team consists of experienced finance professionals
who understand the challenges growth companies face and structure flexible
financing packages to meet these unique needs. For more information about ORIX
Venture Finance, go to http://www.orixventurefinance.com.
Contacts:
Craig Burson
H.I.G. Capital- Miami Office
1001 Brickell Bay Drive
Miami, FL 33131
(305) 379-2322
Henry O’Connor
ORIX Venture Finance, LLC
1800 Tysons Blvd
Suite 300
McLean, VA 22102
Phone: (703) 714-1720
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