Geneva Glen Capital Announces Two New Platform Investments and a New Team Member
PRESS RELEASE
FOR IMMEDIATE RELEASE
Chicago, April 12, 2022 - Geneva Glen Capital (“GGC”) enjoyed an exceptional year in 2021 and has carried that momentum into 2022. In the last twelve months, GGC has completed two new platform investments, successfully realized one of its portfolio companies, and added a new member to its investment team.
In March 2022, GGC completed the recapitalization of Salon Freedom. Salon Freedom is one of the largest franchisees of Sola Salon Studios (“Sola”). With over 600 locations, Sola is the leading salon suites model in the U.S. and offers independent beauty professionals the freedom and benefits of salon ownership without the risk and overhead of opening a traditional salon. Salon Freedom has a proven ability to develop successful Sola franchise locations, with 37 units open to date across Pennsylvania, Southern New Jersey, and Tennessee. Salon Freedom will continue to be led by David Raduziner, Steve Breuner, and Bo Breuner, all of whom retained a significant ownership interest. GGC completed the recapitalization of Salon Freedom in partnership with Operating Partners Todd Recknagel and Kristi Mailloux, who both have deep experience in the franchising industry.
In April 2021, GGC acquired Envision Home Health & Hospice (“Envision”). Envision provides skilled home health and hospice care services as well as palliative and specialty treatments directly to patients in their homes, independent living facilities, assisted living facilities, and skilled nursing facilities across Utah, Washington, and Colorado. GGC completed the acquisition alongside Operating Partner Rick Gandersman, who has over 30 years of experience in the homecare and hospice industry.
As previously announced, in June 2021 GGC completed the sale of Southeastern Heath Care at Home (“Southeastern”) to AccentCare, Inc. Southeastern is the largest privately-owned home health services provider in Pennsylvania, operating in 12 offices across Eastern Pennsylvania and Virginia serving over 3,100 patients. GGC originally recapitalized Southeastern in 2016 in partnership with Operating Partner Rick Gandersman and the existing management team. Under GGC’s ownership, the Company significantly increased revenues and tripled profitability through the implementation of several key strategic initiatives and the organic launch of a hospice care offering.
Lastly, GGC is pleased to announce the addition of John Puglia to its investment team as Vice President. John brings over six years of private equity and M&A experience and is currently finishing his MBA at the Kellogg School of Management at Northwestern University. While at Kellogg, John has been working part-time with GGC and will assume full-time responsibilities after he graduates in June 2022.
About Geneva Glen Capital, LLC
Geneva Glen Capital is a Chicago-based private equity firm that invests in proven private companies with leading market positions, significant growth potential, and stable cash flows. GGC makes control investments and targets companies headquartered in the U.S. or Canada with EBITDA between $2 million and $20 million. The firm works closely with management teams to establish and execute on a clearly defined value creation and growth plan. The principals of GGC have extensive private equity experience and a funding structure that provides the ability to be flexible, creative and, if appropriate, long-term investors.
Jeff Gonyo
Managing Director
jgonyo@genevaglencapital.com
Adam Schecter
Managing Director
aschecter@genevaglencapital.com
Tom Wuellner
Managing Director
twuellner@genevaglencapital.com
John Puglia
Vice President
jpuglia@genevaglencapital.com