Boston, MA – Capstone Partners LLC, a national investment banking advisory firm, announced today that it has successfully advised Pierre’s School of Cosmetology on its recent acquisition by Regis Corporation (NYSE: RGS), the global leader in the $150 billion hair care industry. Capstone initiated the transaction, acted as financial advisor, and assisted in the negotiations for the shareholders of Pierre’s School of Cosmetology. The terms of this transaction were not disclosed.
James Beakey, Capstone’s lead banker on the transaction commented, “This transaction marks the continued consolidation in the industry and Regis’ ongoing commitment to build leading cosmetology training capabilities on a national level. We believe Pierre’s will provide Regis with a growing presence in the Northeast corridor following their acquisition of Blaine in 2004.”
Thomas McGuern, owner of Pierre’s added, “This is an exciting time for our employees and students as we are now part of Regis, the leading employer in the salon industry. The combination of Pierre’s legacy in and commitment to cosmetology training and Regis’ managerial expertise will benefit our current students and those to come.”
Capstone’s team identified Pierre’s as an emerging leader in the post-secondary education and training sector. Supported by its research efforts and contact network in the cosmetology industry, Capstone represented Pierre’s in the capital markets and ultimately delivered to Mr. McGuern, what he considered to be the best available strategic fit.
Pierre’s School of Cosmetology is the premier provider of post secondary, private occupational cosmetology programs in northern New England and is comprised of an established chain of six schools located in Maine.
Regis Corporation is the beauty industry’s global leader in salons, hair restoration centers and education. Regis Corporation is located in Minneapolis, Minnesota. The Company’s common stock is traded on the New York Stock Exchange under the symbol RGS.