Birmingham’s Super C Group has entered into an agreement to acquire 65 Michigan-based salons from Minnesota-based Regis Corp. The acquisition and planned new-store openings are expected to bring the total number of franchised Supercuts locations in Michigan to 85, including other franchisees.
The acquired salons are branded as BoRics, Hair Master, and Fiesta Salons. All of the locations will be remodeled and converted into the Supercuts brand. The agreement includes 13 existing Supercuts corporate stores. Regis Corp. has launched a national marketing push for its Supercuts brand, which includes a multi-year sponsorship with Major League Baseball.
The deal, expected to be completed in spring 2019, will make the Super C Group the largest Supercuts franchisee in the Midwest. The Super C Group will also open 10 new Supercuts locations in Michigan over the next several years.
“We are very excited to enter the salon space in a significant way in our home state of Michigan,” says Michael Sarafa, managing partner of Vision Growth Partners in Bloomfield Hills, a lower-end, middle-market private equity company, and managing partner of Super C Group. “Regis is a great partner with great employees, and we look forward to growing the Supercuts brand and building a culture of teamwork and success.”
Sarafa is joined at Vision Growth Partners by Partner Saber Ammori, co-founder and CEO of Wireless Vision in Bloomfield Hills. The latter business, founded in 2004, operates more than 500 T-Mobile locations in 26 states.
“Vision Growth Partners and the Super C Group bring a wealth of knowledge and experience to the multi-unit space,” says Eric Bakken, president of franchise for Regis Corp. “We think they are the ideal partner to help us significantly grow the Supercuts brand in Michigan.”
Super C Group plans to retain all of the approximately 400 store employees. The store acquisitions will take place in small groups and be completed by the spring of 2019.