Rush, a Croydon, UK-based hair and beauty brand, secured a £16m growth investment.
Private equity firm LDC will acquire a minority shareholding, with Investment Directors Alastair Weinel and Tanya Thompson joining Rush’s board of the business.
The company intends to use the funds to bring the brand to other major UK cities including Manchester, Liverpool, Nottingham, Birmingham, Bristol and York almost doubling its salon count over the next four years, opening the new Covent Garden academy which will offer training to stylists and invest in Shop Rush, the Group’s online hair and beauty e-commerce platform.
Launched over 22 years ago by hairdressers Andy Phouli and Stell Andrew, Rush started as a single salon in Wimbledon. The business, which comprises 85 salons mainly concentrated in London and the South East, now generates sales of over £36m with profit (EBITDA) of over £4m.
It employs over 1,100 stylists and beauticians, receiving over 13,000 customers a week.