We originated our primary acquisition platform in the body art equipment and consumables market through our west coast office in a very limited sell-side process. Our November 2015 acquisition represented a classic BHC deal of a substantially under-managed “A-rated” asset, where we believed a significant upside opportunity existed in a niche market that had not been private equity penetrated to date. The company had developed a leading market position and reputation with a solid line-up of branded products, but was severely lacking management depth and systems infrastructure, as well as a clear “go-to-market” strategy.
In conjunction with the closing of a second acquisition in May 2016, we recruited and hired Brian Etter as CEO, in addition to new senior hires in the areas of Finance and Operations. These additional investments in people and technology along with products acquired, resulted in strong sales performance and helped transform the business into a growth platform with a well-defined go-to-market strategy.
During our investment period, working with CEO Brian Etter, BHC sourced and completed two add-on acquisitions which substantially enhanced the company’s product and geographic footprint. We exited the investment in November of 2017.
The results shown above are unaudited on a gross basis before fees and expenses.
Past performance is no guarantee of future results.