Largest Retailer of Professional Hair Care Products in Canada Joins Forces with ONCAP to Help Accelerate Growth Plans and Expand Its National Platform
Intrepid today announced the acquisition of its client Chatters Canada, the largest retailer of professional hair care products in Canada and one of the largest hair salon operators in the country, by ONCAP, the middle-market private equity platform of Onex Corp. (TSX: OCX), in partnership with the existing management team. The investment is being made by ONCAP III.
“We selected Intrepid based on their extensive experience in the beauty care industry and their knowledge of the professional hair care sector—and they delivered,” said Jason Volk, Chief Executive Officer of Chatters. “They took the time to understand our brand, business model, vision, and shareholder objectives. Their strategic advice and insights were critical throughout our process. Best of all, they found us the right partner in ONCAP, who will help us continue our momentum and build out our national platform.”
“We’re delighted to be partnering with Jason Volk and the entire Chatters team,” said Mark MacTavish, Managing Director of ONCAP. “Chatters is well positioned to build upon its strong foundation and we’re excited to support its growth.”
“We were impressed from day one with the powerful Chatters store model, brand, and culture, but perhaps most impressed with the entire Chatters team. They have established a national beauty care platform in Canada and built a truly special business,” said Steve Davis, Managing Director and Head of the Beauty & Personal Care practice at Intrepid. “I’m confident Chatters will continue to thrive with their new partner. We’re proud to have been a part of the Chatters team and look forward to seeing what Chatters and ONCAP can accomplish together.”
Founded in 1990 in Red Deer, Alberta, Chatters is the largest retailer of professional hair care products in Canada and one of the largest hair salon operators in the country with more than 100 stores spanning eight provinces. Chatters retails more than 5,500 professional beauty products, including all the leading professional hair care brands as well as an increasing selection of skin care, body care, nail, and accessories brands. All Chatters stores provide a full-service salon offering high-quality cuts, color, and specialty treatments with approximately 900 chairs and over 900 highly-trained, educated stylists system-wide. The Chatters model combines a unique balance of retail sales and salon services revenue under one roof, resulting in a differentiated and powerful one-stop professional beauty care format.
ONCAP, in partnership with operating company management teams, invests in and builds shareholder value in North American small- and mid-size companies that are leaders in their defined market niche and possess meaningful growth potential. ONCAP is the mid-market private equity platform of Onex, one of the oldest and most successful private equity firms committed to acquiring and building high-quality businesses in partnership with talented management teams. In total, Onex has approximately US$21 billion of assets under management, including US$5.9 billion of Onex capital, in private equity and credit securities. Onex invests its capital directly through its investing platforms and as the largest limited partner in each of its private equity funds
Intrepid is one of the most active mergers and acquisitions advisors in the Beauty & Personal Care sector. Our practice has a deep understanding of trends and value-drivers across the sector, ongoing dialogue with the acquiror and investor universe, and a proven track record helping clients sell to global strategic acquirors and value-added private equity groups.
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About Intrepid Investment Bankers
Intrepid Investment Bankers provides M&A, capital raising and strategic advisory services to entrepreneurs and middle-market companies in various industry sectors. Our heritage, rooted in our founders’ successful 35-year history, breeds a culture that embraces teamwork, tenacity and creativity to win big for our clients. We believe that every company has an entrepreneurial passion that drives it and a story that defines it. Our team delivers results through skillful positioning of the client’s story and relentless execution. Based in Los Angeles, Intrepid augments its international capabilities through active membership in M&A International, an exclusive global alliance of M&A advisory firms.
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