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Levine Leichtman Capital Partners Invests in SEV in Partnership with Founder and Management

LOS ANGELES, June 21, 2023--(BUSINESS WIRE)--Levine Leichtman Capital Partners ("LLCP"), a Los Angeles-based private equity firm, today announced that it has partnered with SEV, a market-leading manager and operator of med spas that provide laser hair removal, injectables, body contouring, and other medical aesthetic services. SEV will continue to be led by founder and CEO Sevana Petrosian and the existing management and clinical teams. Financial terms of the transaction were not disclosed.

Founded in 2010 and headquartered in Burbank, California, SEV provides superior customer service to deliver an industry-leading med spa experience at an attractive price point. SEV manages or operates 27 offices across seven states with plans to continue expansion.

Andrew Schwartz, a Partner at LLCP, said, "SEV has built an incredible brand, compelling service offerings, and a loyal customer base. We believe strongly in the long-term potential of SEV and are excited to work closely with Sevana and the management team to drive growth through new office openings, same-store sales acceleration, and the introduction of additional service innovations."

Sevana Petrosian said, "It has been an incredible journey building the foundation of SEV for the past 13 years. Our team has established an exceptional brand, consistently delivering meaningful and lasting experiences for our loyal clients. We are confident our partnership with LLCP will enable our next phase of growth through a thoughtful, innovative, and customer-centric approach."

Through its history, LLCP has invested in 40 brands in the Franchising & Multi-unit sector. These include consumer-related service businesses such as Hand & Stone, Club Champion, Monte Nido, Caring Brands International, Senior Helpers, Suveto and Lawn Doctor.

SEV is the tenth platform investment of Levine Leichtman Capital Partners VI, L.P.

Kirkland & Ellis LLP and Polsinelli LLP acted as legal counsel to LLCP on the transaction. North Point served as exclusive financial advisor to SEV, and Buchalter, a Professional Corporation, represented SEV as legal counsel.

About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 39-year track record of investing across various targeted sectors, including Franchising & Multi-unit, Business Services, Education & Training and Engineered Products & Manufacturing. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity.

LLCP’s global team of dedicated investment professionals is led by nine partners who have worked at LLCP for an average of 19 years. Since inception, LLCP has managed approximately $13.3 billion of institutional capital across 15 investment funds and has invested in over 100 portfolio companies. LLCP currently manages $8.7 billion of assets and has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm, The Hague and Frankfurt.

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Mark Semer/Sara Widmann
Gasthalter & Co.
(212) 257 4170