BIGGER IS BETTER
It’s great to see renowned hairdressing and beauty brand Rush are expanding, with the recent news of an investment to the tune of £16 million.
Rush, who had a record year in 2016 with the opening of 11 new salons – taking the total of UK units to 85 – has secured investment from mid-market private equity firm LDC to support a national rollout programme.
LDC, part of Lloyds Banking Group, has come on board to help grow Rush into a major national brand. LDC, who will hold a minority stake in Rush, will help accelerate the national expansion of the brand, as the company plans to fast-track the roll out and almost double its salon count over the next four years.
Launched over 22 years ago by hairdressers Andy Phouli and Stell Andrew, Rush started as a single salon in Wimbledon. Initially based in London and the South East, Rush has recently opened salons in Birmingham, Liverpool, York and Manchester. In 2017, the company will also open a new state of the art training academy, in the heart of London’s Covent Garden, where hairdressers from all over the world will be able to learn the techniques that have been instrumental in winning Rush, both in the UK and internationally, over 20 creative awards.
Stell Andrew, Joint CEO and Co-Founder of Rush said: “Until now we have grown our business organically but felt the time was right to turbo-charge our expansion plans, which is why private equity investment is a natural next step for us. We are now in a position to substantially increase our national presence and bring the Rush brand to more customers across the country.”
“We have known the team at LDC for several years,” ” adds joint CEO and Co-Founder Andy Phouli. “As a family business, it’s important for us to work with an investment partner that shares our ethos and vision. We already have a fantastic management team in place with George Phouli, Peter Phouli and Andreas Pantelli, and from the outset LDC were fully supportive of our plans. LDC gave us the confidence they were the right fit to help us deliver our growth ambitions, and we can’t wait to get started on the next phase of our growth journey.”
LDC Investment Director Alastair Weinel said: “Rush has a proven scalable model. Its strong brand proposition means the business in an ideal position to push on and grow its UK footprint. The development of its training academy and continued innovation will further support the business’ status as the market-leading player in the hair and beauty sector.”
