Who is buying salons and spas?
16 named consolidator platforms are actively acquiring US salon and spa businesses; 14 of them are private-equity-backed. The most recent named acquisition tracked on this page closed in August 2026.
Why salons and spas are consolidating
- •US hair salon revenue is expected to reach $63.4 billion in 2026, and the industry is highly fragmented, with no company holding a market share greater than 5%, according to IBISWorld.
- •Self-employed workers held 48% of the roughly 595,000 hairdresser, hairstylist and cosmetologist jobs in 2025, and 80% of the 75,800 barber jobs, according to the US Bureau of Labor Statistics.
- •US spas generated $23.5 billion in revenue in 2025 across 22,060 spa locations, according to the International Spa Association's 2026 US Spa Industry Study as reported by Spa Business.
- •There are roughly 3,600 salon suites in the US, about 1,800 to 1,900 of them franchised and the rest run by mom-and-pop operators, and consolidation is expected to increase over the next two to four years, according to IMAGE Studios' CEO as reported by ION Analytics.
- •Salon Lofts, which calls itself the largest independent salon suite operator in the US with 315+ locations, plans 500+ additional locations through new development and acquisitions, according to Salon Lofts' investor relations page.
The platforms consolidating salons and spas
The named groups acquiring US salon and spa businesses, with their current owner and a source for each. Most grow through individual partnerships that are not separately disclosed; where a platform publishes named deals, recent ones are listed.
| Acquirer | Owner / backer | Type | Headquarters | Latest named deal |
|---|---|---|---|---|
| Regis Corporation (Supercuts, Cost Cutters, SmartStyle) | Public company (Nasdaq: RGS) | Strategic / public | Minneapolis, MN | Dec 2024 |
| Salon Lofts | Audax Private Equity | Private equity | Columbus, OH | May 2025 |
| Radiance Holdings (Sola Salons, Woodhouse Spas) | TSG Consumer Partners (majority since December 2022) | Private equity | Lakewood, CO | Jul 2020 |
| Phenix Salon Suites | 10 Point Capital (minority investment, March 2018) | Private equity | Las Vegas, NV | Mar 2025 |
| My Salon Suite (Propelled Brands) | LightBay Capital and Freeman Spogli (Propelled Brands) | Private equity | Carrollton, TX | Mar 2024 |
| WellBiz Brands (Drybar, Elements Massage, Amazing Lash Studio, Radiant Waxing, Fitness Together) | Transom Capital Group | Private equity | Denver, CO | — |
| European Wax Center | General Atlantic | Private equity | Plano, TX | — |
| Head to Toe Brands (The Lash Lounge, Bishops Cuts/Color, Frenchies Modern Nail Care, Crown Extension Studio) | The Riverside Company (invested April 2023) | Private equity | Not confirmed | Nov 2025 |
| Salon Republic | Riata Capital Group (recapitalization, December 2022) | Private equity | Woodland Hills, CA | Dec 2024 |
| IMAGE Studios / Gorgeous Collective | MPK Equity Partners (majority since March 2024) | Private equity | Salt Lake City, UT | Aug 2026 |
| Hello Sugar | Founder Brigham Dallas (no outside investor found) | Franchisor | Mesa, AZ | Nov 2025 |
| Boardroom Salon for Men | LightBay Capital (since August 2018) | Private equity | Dallas, TX | Apr 2025 |
| PCRK Group | Three20 Capital Group (Todd Recknagel and Kristi Mailloux); Trivest Partners (investor since 2019) | Private equity | Tempe, AZ | Sep 2024 |
| Salon Freedom Holdings | Geneva Glen Capital and Three20 Capital Group (recapitalization, March 2022) | Private equity | Boulder, CO | Aug 2023 |
| Hand & Stone Massage and Facial Spa | Harvest Partners (since June 2022) | Private equity | Trevose, PA | May 2023 |
| Blo Blow Dry Bar | NewSpring (NewSpring Franchise strategy, invested 2021) | Private equity | Toronto, ON | Sep 2024 |
Regis Corporation (Supercuts, Cost Cutters, SmartStyle)
Strategic / public- Owner
- Public company (Nasdaq: RGS)
- Headquarters
- Minneapolis, MN
- Scale
- 3,712 salons franchised or owned in North America and the United Kingdom as of June 30, 2026
Mostly a franchisor (93% franchise base when the deal was announced). Its 2024 deal bought back its largest franchisee, not independent salons. The 10-K says 261 of the 314 Alline salons were still open on June 30, 2026.
Salon Lofts
Private equity- Owner
- Audax Private Equity
- Headquarters
- Columbus, OH
- Scale
- 315+ locations and 8,200+ beauty professionals (company investor relations page)
The most active salon suite acquirer found. Deal dates are PitchBook deal dates, and no press releases were found for these four deals. The investor relations page also names Platform Salon Suites as an acquisition, but no date was found. PitchBook counts 14 investments, and only 5 were visible. Audax's portfolio page was read through a search excerpt because a direct fetch returned 404.
Radiance Holdings (Sola Salons, Woodhouse Spas)
Private equity- Owner
- TSG Consumer Partners (majority since December 2022)
- Headquarters
- Lakewood, CO
- Scale
- Sola Salons: 819 total units, 814 in the US (Franchise Times Top 400, 2026); Woodhouse Spa: over 80 locations (TSG)
Largest salon suite franchisor. No 2024-2026 acquisition was found. ION Analytics (Mar 2026) still calls Radiance TSG-backed. Franchise Times' 2026 profile still names earlier investors (MPK, AHR, PNC Riverarch), which looks out of date. The HQ comes from PitchBook. TSG and press coverage say Denver.
Phenix Salon Suites
Private equity- Owner
- 10 Point Capital (minority investment, March 2018)
- Headquarters
- Las Vegas, NV
- Scale
- 400 locations across 33 states (Mar 2025)
10 Point Capital's 2018 investment was a minority stake, and who holds the majority was not confirmed. Founder Gina Rivera is described as founder and president. Shopping Center Business calls Phenix Las Vegas-based, but a 2024 Phenix release calls it California-based.
My Salon Suite (Propelled Brands)
Private equity- Owner
- LightBay Capital and Freeman Spogli (Propelled Brands)
- Headquarters
- Carrollton, TX
- Scale
- More than 370 My Salon Suite locations (Mar 2026); Propelled Brands has over 1,380 franchises open across FASTSIGNS, My Salon Suite and Camp Bow Wow
Freeman Spogli lists Propelled Brands on its portfolio page, and ION Analytics (Mar 2026) names both LightBay and Freeman Spogli as backers. The HQ comes from Propelled Brands' release datelines. PitchBook lists My Salon Suite's office in Metairie, LA. Propelled Brands publicly invites independent suite owners to sell or convert, and its franchisees also buy independent suites.
WellBiz Brands (Drybar, Elements Massage, Amazing Lash Studio, Radiant Waxing, Fitness Together)
Private equity- Owner
- Transom Capital Group
- Headquarters
- Denver, CO
- Scale
- More than 700 locations across the United States, Canada, Europe and the Middle East
Franchisor platform. KSL Capital, which had owned it since 2015, sold it to Transom in January 2026 (Franchise Times). Transom also lists Gene Juarez Salons & Spas (11 salons and spas in the Pacific Northwest) as a current investment. No add-ons were found since the sale.
European Wax Center
Private equity- Owner
- General Atlantic
- Headquarters
- Plano, TX
- Scale
- More than 1,000 centers in 44 states (May 2026)
Waxing franchisor. General Atlantic took it private in May 2026 by buying the shares it did not already own. No salon add-ons were found.
Head to Toe Brands (The Lash Lounge, Bishops Cuts/Color, Frenchies Modern Nail Care, Crown Extension Studio)
Private equity- Owner
- The Riverside Company (invested April 2023)
- Headquarters
- Not confirmed
- Scale
- Four franchise brands, the largest being The Lash Lounge at 134 locations (Franchise Times, Nov 2025)
No source confirmed the platform's HQ. Franchise Times describes Bishops as Portland, OR-based and Frenchies as Littleton, CO-based. Riverside called The Lash Lounge the platform's third acquisition.
Salon Republic
Private equity- Owner
- Riata Capital Group (recapitalization, December 2022)
- Headquarters
- Woodland Hills, CA
- Scale
- 37 locations serving over 2,750 beauty professionals in four states (CA, CO, TX, WA)
Operates company-owned salon studios in the western US. The HQ comes from ZoomInfo only. The Mosaic release is datelined Los Angeles.
IMAGE Studios / Gorgeous Collective
Private equity- Owner
- MPK Equity Partners (majority since March 2024)
- Headquarters
- Salt Lake City, UT
- Scale
- 135 IMAGE Studios locations across 29 states (company release, Mar 23, 2026), plus Clean Your Dirty Face (33 locations)
Gorgeous Collective launched in July 2026 as its multi-brand acquisition platform. In March 2026 the CEO told ION that its salon suite M&A sweet spot is two to 10 locations and that it may explore an exit around 2028-2029. ION reported 26 states and the company's own release says 29.
Hello Sugar
Franchisor- Owner
- Founder Brigham Dallas (no outside investor found)
- Headquarters
- Mesa, AZ
- Scale
- More than 200 open and developing locations (Nov 2025)
Medium confidence on ownership. No PE or other outside investor appeared in any source read, and PitchBook's preview shows only a debt deal. The Waxxpot deal was an asset purchase.
Boardroom Salon for Men
Private equity- Owner
- LightBay Capital (since August 2018)
- Headquarters
- Dallas, TX
- Scale
- 46 locations across the United States (Jan 2026)
Men's salon. The April 2025 release cited 55 locations including Finley's, and the January 2026 release cites 46 Boardroom locations. Boardroom's CEO told Franchise Times that Finley's would keep its name and run as a standalone business.
PCRK Group
Private equity- Owner
- Three20 Capital Group (Todd Recknagel and Kristi Mailloux); Trivest Partners (investor since 2019)
- Headquarters
- Tempe, AZ
- Scale
- 130 Massage Envy locations across 13 states
Largest Massage Envy franchisee. A January 2023 PCRK release calls it a portfolio company of Trivest Partners and Three20 Group, and The Daily Upside (Jan 2025) still says Trivest acquired it in 2019. Trivest's current stake could not be confirmed on Trivest's own site. Three20 is a husband-and-wife private investment firm.
Salon Freedom Holdings
Private equity- Owner
- Geneva Glen Capital and Three20 Capital Group (recapitalization, March 2022)
- Headquarters
- Boulder, CO
- Scale
- 60 Sola Salons locations (Franchise Times, May 2026)
Largest Sola Salons franchisee. Its last named acquisition (2023) predates the deal window. Geneva Glen says it is actively pursuing add-on acquisitions of established Sola locations. The HQ comes from its press-release dateline.
Hand & Stone Massage and Facial Spa
Private equity- Owner
- Harvest Partners (since June 2022)
- Headquarters
- Trevose, PA
- Scale
- 650-plus units (July 2026); more than 650 spas across 36 states and Canada (Sep 2026)
Spa franchisor. No 2024-2026 acquisition was found. Its existing spas change hands through franchise resales.
Blo Blow Dry Bar
Private equity- Owner
- NewSpring (NewSpring Franchise strategy, invested 2021)
- Headquarters
- Toronto, ON
- Scale
- Over 165 locations across the U.S. and Canada (Jan 2026)
Canadian HQ that buys US brands. Medium confidence: the 2021 NewSpring investment is the latest ownership event found. Tracxn's 2026 profile still lists NewSpring, but NewSpring's portfolio page would not load.
Selling in your state?
What salon and spa businesses sell for, who is buying, and how many there are, state by state.
Frequently asked
Who is buying salon suite businesses right now?
According to PitchBook, Audax-backed Salon Lofts bought four salon suite operators between August 2024 and May 2025: Delaney Salons in Mansfield (TX), Summit Salon Studios (Fort Collins, CO), Mattison Avenue Salon Suites & Spa (Frisco, TX) and Salontra Select Suites (Catonsville, MD). Other buyers made one deal each. Phenix Salon Suites bought six Vista Salon Suites facilities in San Antonio in March 2025. Riata-backed Salon Republic bought Seattle's Mosaic Salons + Spas in December 2024. My Salon Suite bought Mera Salon and Spa Suites in Baton Rouge in March 2024.
How big does a salon suite business need to be to interest a buyer?
In March 2026, IMAGE Studios' CEO told ION Analytics that its acquisition sweet spot is two to 10 locations, and that it wants salon suites it can convert to the IMAGE brand. Salon Lofts' acquisitions include single-market operators such as Summit Salon Studios in Fort Collins and Delaney Salons in Mansfield, Texas.
Will a buyer keep my salon's name?
It depends on the buyer. Boardroom's CEO told Franchise Times it would not rebrand Finley's Barbershop and would run its 10 Texas locations as a standalone business. Other buyers rebrand. Phenix said the Vista Salon Suites facilities would be converted to the Phenix format, and Mera's locations were rebranded as corporate My Salon Suite locations. Ovation Salon Suites now operates as a Salon Lofts suite concept. Gorgeous Collective said Clean Your Dirty Face would keep its name and brand.
Do franchisors buy independent salons, or only their own franchise units?
They buy both. In June 2025, Propelled Brands, the parent of My Salon Suite, publicly invited independent salon suite owners who were thinking about selling or converting to contact it. My Salon Suite franchisees then bought independent suite businesses in Indianapolis (June 2025) and in South Jordan and Draper, Utah (February 2026). Franchisors also buy back franchise units. Phenix bought five facilities from a franchisee in Greater Phoenix in March 2024, and Regis bought its largest franchisee, the 314-salon Alline Salon Group, in December 2024.
Are spa, massage, waxing and lash businesses being acquired too?
Yes. PCRK Group, the largest Massage Envy franchisee, bought 36 Massage Envy locations in Texas and New Mexico in September 2024. Riverside's Head to Toe Brands bought The Lash Lounge in March 2024 and Crown Extension Studio's franchise rights in November 2025. Hello Sugar bought the assets of 20 Waxxpot salons in November 2025, and GoSaga closed on 14-unit Squeeze Massage the same month. Gorgeous Collective, the platform anchored by IMAGE Studios, bought Clean Your Dirty Face in August 2026. Whole platforms also changed hands. Transom bought WellBiz Brands (Drybar, Elements Massage) in January 2026, and General Atlantic took European Wax Center private in May 2026.
How fragmented is the salon and spa industry?
Very. IBISWorld says no company holds more than 5% of the $63.4 billion US hair salon market (2026). The BLS says self-employed workers held 48% of the roughly 595,000 hairdresser, hairstylist and cosmetologist jobs in 2025. ISPA counted 22,060 US spa locations in 2025. IMAGE Studios' CEO estimates that about half of the roughly 3,600 US salon suites are run by independent mom-and-pop operators.
Methodology & sources
Compiled in October 2026 from deal press releases, PE firm portfolio pages, PitchBook public profile previews, a Regis Form 10-K, Franchise Times and ION Analytics coverage. An adversarial check on October 5, 2026 re-read every cited page and searched each platform for a 2025-2026 sale, recapitalization or merger. It corrected or removed any claim the pages did not support. Scope covers US hair salons, salon suites, barbershops, waxing, lash, nail and facial salons, and day and massage spas. Medical spas were excluded. Platform revenue and EBITDA are not reported.
Market sources
- IBISWorld, Hair Salons in the US (2026) ↗
- US Bureau of Labor Statistics, Occupational Outlook Handbook: Barbers, Hairstylists, and Cosmetologists ↗
- Spa Business: ISPA 2026 US Spa Industry Study (Mar 31, 2026) ↗
- ION Analytics / Mergermarket: IMAGE Studios seeks salon suite buys (Mar 3, 2026) ↗
- Salon Lofts investor relations page ↗
Last updated October 6, 2026. Platform ownership last verified October 6, 2026. Ownership in this sector changes frequently; figures reflect the most recent public sources available and are not investment, legal, or tax advice.
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