Topcuts interested in more acquisitions, but targets scarce; adding scale through buys could attract suitor, investor says
January 25, 2013
Topcuts, a privately held Toronto, Canada-based chain of hair salons, is interested in more buys, although targets are scarce, said Brad Nathan, president at Lynx Equity. Topcuts in January acquired children’s hair care chain Melonhead, bringing its store count to 36 from 19. Lynx Equity has backed Topcuts, with about USD 10m in revenue, for five years, said Nathan. The company would “love” to make more acquisitions in Canada, but the hair salon industry is made up of many individual players. Chains are hard to come by, although there are “a few here and there with five or 10” locations, […]