US-based private equity firm KKR is reportedly on the hunt for buyers to purchase its Australian and New Zealand Laser Clinics business.
According to the AFR, the company has already hired PwC to seek buyer interest in its UK, US and Canadian operations.
The masthead said the Australian and New Zealand business of more than 100 clinics accounted for almost 80 per cent of the group’s $187.3 million revenue in the financial year 2023.
KKR acquired Laser Clinics in 2017 for about $650 million, the AFR reported. In 2022 the private equity firm bought out a number of unhappy franchisees.
The Laser Clinics business model is a 50/50 joint venture between the franchisor and franchisee.
Two years ago another franchise chain, Silk Laser , was snapped up by Australian Pharmaceutical Industries.
