- SILK Laser Australia (SLA) acquires Victorian-based Unique Laser in a complementary deal, expanding the company’s network to 128 clinics
- The acquisition will be funded from its existing cash reserves and further expands the company’s East Coast presence which is a strategic goal
- As part of the agreement, the acquired clinics across Ballarat, Doncaster, Geelong, Torquay and Waurn Ponds are franchised with one to be part owned by SILK
- SILK believes the acquisition will be earnings accretive and has forecast to deliver its FY22 earnings before interest, taxes, depreciation and amortisation of at least $20 million
- Shares in SILK end the day 6.82 per cent in the green to close at $2.35
SILK Laser Australia (SLA) has acquired Victorian-based Unique Laser in a complementary deal, expanding the company’s network to 128 clinics.
The acquisition will be funded from its existing cash reserves and further expands the company’s East Coast presence which is part of its strategic goals.
As part of the agreement, the acquired clinics across Ballarat, Doncaster, Geelong, Torquay and Waurn Ponds are franchised with one to be part owned by SILK.
Commenting on the acquisition, Founder and Managing Director Martin Perelman said the company is leading in the non-surgical aesthetics sector which he believes is going through a “consolidation phase”.
“This acquisition aligns with SILK’s goal to increase its East Coast presence – particularly in Victoria,” he said.
“We’re thrilled to welcome the Unique Laser team to the SILK family and we’re excited to further grow the SILK network – which has doubled in size over the past 12 months – across Australia and New Zealand.”
The company believes the acquisition will be earnings accretive and has forecast to deliver its FY22 earnings before interest, taxes, depreciation and amortisation of at least $20 million.
Shares in SILK ended the day 6.82 per cent in the green to close at $2.35.