Transcript
My name is Martin Perelman, and I’m the founder and CEO of SILK Laser Clinics. SILK Laser Clinics is a growing chain of cosmetic clinics, offering a range of services that make you feel and look great. Our most popular services include cosmetic injectables, laser hair removal, body contouring, as well as advanced skin treatments. SILK also offers a range of topical skincare products, which are sold at our clinics, and also online.
Our partnership with Advent really enabled us to think big. When Advent invested us in 2018, we were a 12-clinic network, operating predominantly in South Australia. Three years later, we are now listed on the ASX, have over 120 clinics across Australia, and we are also in New Zealand. We always believed in the potential of our business, but having a partner as a sounding board to debate the big decisions gave us the confidence to pursue our potential.
Advent brought science to our decision-making. From demographic analysis of catchment areas, finessing the clinic ownership model, structuring our reporting, driving us to improve our BI, Advent helped and pushed us to go to the next level. We opened multiple clinics in a month, made acquisitions, and built a world-class team with Advent. Now, we have the knowledge, and team, and systems to continue to hyper-scale our business. For any business founder, at some point, you need to make a decision to either sell out, go it alone, or partner. Our experience is that partnering with Advent helped us to deliver on that potential. We continue to expand our offering and the markets in which we operate. We continue to think big.
Why did SILK partner with Advent?
Transcript
In the early stages for Silk, we were a small business, but we believed in our model. We knew there was a great opportunity for our business to scale and go national. We had the processes and systems in place, but we needed the investment from private equity to help us with that scale.
So we went through a process and looked at opportunities where we could obviously grow the business, and private equity was a key part of that growth strategy. When we decided to go through a private equity process and looking for investment, Advent was one of multiple private equity companies that we talked to. Advent had a great reputation of working well with management, and that came through in the process when we spoke to Advent. We also found Advent to have great professionalism and also great understanding of the industry. We knew they would be able to bring the expertise that we needed to help us scale our business to the levels that we believed in.
