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Debt & Specialty Finance
FINANCE | Investment Firms & Funds
stonehengecapital.com

Investments

109

Portfolio Exits

38

Funds

15

About Stonehenge Capital

Stonehenge Capital is a leader in specialty finance. It provides small businesses, real estate developments, historic rehabilitation projects, renewable energy installations, and film and entertainment productions with flexible capital through a variety of debt and equity financings. It was founded in 1999 and is based in Atlanta, Georgia.

Headquarters Location

3350 Riverwood Parkway Suite 1900

Atlanta, Georgia, 30339,

United States

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Latest Stonehenge Capital News

Salon Freedom Expands Executive Team with Hiring of Erin Bracke as Chief Operating Officer

Dec 6, 2022

News provided by Share this article Second Largest Operator of Franchised Sola Salon Studio Locations Prepares for Continued Growth BOULDER, Colo., Dec. 6, 2022 /PRNewswire/ -- Salon Freedom Holdings, LLC (Salon Freedom), the fastest growing and second largest operator of franchised Sola Salon Studio locations, is pleased to announce the addition of Erin Bracke to its executive team as Chief Operating Officer effective Monday, December 5th. Erin will lead sales, marketing and operations across the company, from recruiting and on-boarding new Sola Pros to delivering a world class experience to customers every day. She'll contribute to the company's business strategy, while leading the design and deployment of all sales and operational systems, processes and programs. "We couldn't be more pleased with the addition of Erin to our team," said David Raduziner, Co-Founder and CEO of Salon Freedom. "Erin is an intelligent, energetic and passionate leader, who will continue to build our strong culture for our 1,000+ Sola professionals. She brings a unique combination of sales and operations experience to the company and will be a great resource not only to us but to the entire Sola system." Erin will be relocating to the Nashville area where Salon Freedom has invested approximately $10 million, with an additional $3+ million planned investment over the next 12 to 24 months. The company plans further development in excess of $10 million in Pennsylvania and New Jersey during that period. Erin previously served as VP of Field Sales at Vacasa, a tech driven vacation rental management company. "We believe the combination of Erin's tech company and multi-unit rental experience will help drive Salon Freedom toward 100 Sola units and beyond," said Todd Recknagel, Salon Freedom's Board Chair. He added, "Her energy and enthusiasm is contagious." Prior to Vacasa, Erin had a long career in successively more senior operations management roles at Lifetime Fitness, a premium family health and fitness brand. "Erin is a perfect fit for Salon Freedom's culture of care and support. We can't wait to get her fully engaged with our team and customers," said Steve Breuner, Co-Founder and CMO. "We have no doubt she'll bring a fresh perspective on marketing, sales and operations that will drive our business success as we continue our dramatic growth." Bo Breuner, Philadelphia Development Director, who is running the fastest growing market in the country for Salon Freedom noted, "We eagerly anticipate the contributions Erin will make to our system bringing new ideas and sophistication to our operations – there's much to learn from her." About Sola Salon Studios In 2004, Sola Salons was established with the opening of its first location in Denver, Colorado. Now with more than 645 locations open in the U.S., Canada and Brazil, Sola is proud to offer almost 20,000 independent beauty professionals the freedom and benefits of salon ownership without the risk and overhead of opening a traditional salon. Its innovative salon model empowers hairdressers, estheticians, nail techs and other like-minded professionals to take control and independently manage their careers. Sola provides beauty professionals with beautiful, fully equipped salon studios alongside the support and tools they need to launch their salon business in no time. For more information, please visit www.solasalons.com . About Salon Freedom Holdings Salon Freedom was formed in 2008 to develop franchised Sola Salon locations. The company announced a major investment in March, 2022 by Three20 Capital Group, Geneva Glen Capital, and Stonehenge Partners. Salon Freedom currently operates 42 locations in Pennsylvania, New Jersey and Tennessee with an additional 8 locations planned or under construction for completion by Q2 2023. About Three20 Capital Group Three20 Capital Group is a private equity firm led by franchise veterans Todd Recknagel and Kristi Mailloux. Three20 has a depth of experience in franchising, distribution, energy efficiency and multi-unit businesses. A sampling of Brands they have partnered with include Massage Envy, Office Pride, Take 5 Oil change, Mr. Handyman, Molly Maid, Quatrro Business Services and AM Conservation Group. www.Three20group.com About Geneva Glen Capital Geneva Glen Capital is a Chicago-based private equity firm that invests in proven private companies with leading market positions, significant growth potential, and stable cash flows. GGC makes control investments and targets companies headquartered in the U.S. or Canada with EBITDA between $2 million and $20 million. The firm works closely with management teams to establish and execute on a clearly defined value creation and growth plan. www.genevaglencapital.com About Stonehenge Capital Stonehenge is an Ohio-based private equity firm serving the lower middle market. Founded in 1999, Stonehenge has a long history of partnering with leading entrepreneurs and managers who are focused on building winning teams, accelerating growth, and creating shareholder value. Stonehenge provides flexible capital that meets the needs of all stakeholders, including majority equity, minority equity, debt, and combinations thereof. Stonehenge has raised more than $1 billion of committed capital and is currently investing out of its fifth institutional fund. www.Stonehengepartners.com Contact David Raduziner, CEO at [email protected]  or Todd Recknagel, Board Chair at [email protected]   SOURCE Salon Freedom Holdings, LLC ×

Stonehenge Capital Investments

109 Investments

Stonehenge Capital has made 109 investments. Their latest investment was in Wellinks as part of their Series C on November 11, 2021.

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Stonehenge Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/3/2021

Series C

Wellinks

$25M

Yes

7

1/25/2021

Debt - II

Tala Security

$1.52M

Yes

1

8/13/2020

Private Equity

LilyAna Naturals

Yes

1

7/9/2020

Private Equity

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$99M

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10

3/2/2020

Private Equity - II

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10

Date

11/3/2021

1/25/2021

8/13/2020

7/9/2020

3/2/2020

Round

Series C

Debt - II

Private Equity

Private Equity

Private Equity - II

Company

Wellinks

Tala Security

LilyAna Naturals

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Amount

$25M

$1.52M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

7

1

1

10

10

Stonehenge Capital Portfolio Exits

38 Portfolio Exits

Stonehenge Capital has 38 portfolio exits. Their latest portfolio exit was PaySpan on November 09, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/9/2022

Acquired

$99M

2

5/26/2022

Acquired

$99M

1

4/15/2021

Acquired

$99M

1

12/6/2018

Acquired

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$99M

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10

10/25/2018

Acquired

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$99M

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10

Date

11/9/2022

5/26/2022

4/15/2021

12/6/2018

10/25/2018

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

2

1

1

10

10

Stonehenge Capital Acquisitions

4 Acquisitions

Stonehenge Capital acquired 4 companies. Their latest acquisition was Algiere Construction Services on December 13, 2018.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

12/13/2018

Debt

$99M

$0.68M

Acq - Fin

1

4/4/2008

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$99M

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0

1/7/2008

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$99M

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0

5/22/1991

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$99M

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10

Date

12/13/2018

4/4/2008

1/7/2008

5/22/1991

Investment Stage

Debt

Companies

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Valuation

$99M

$99M

$99M

$99M

Total Funding

$0.68M

Note

Acq - Fin

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Sources

1

0

0

10

Stonehenge Capital Fund History

15 Fund Histories

Stonehenge Capital has 15 funds, including Stonehenge Community Impact Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

7/16/2020

Stonehenge Community Impact Fund

Diversified Private Equity

Open

$28M

1

5/1/2007

Stonehenge Growth Capital Fund

Mezzanine (Third-Party)

Closed

$200M

1

12/31/2005

Stonehenge Capital Fund Texas

Multi-Stage Venture Capital

Closed

$24M

1

11/9/2004

Stonehenge Capital Fund Alabama

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$99M

10

5/1/2002

Stonehenge Capital Fund Colorado

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$99M

10

Closing Date

7/16/2020

5/1/2007

12/31/2005

11/9/2004

5/1/2002

Fund

Stonehenge Community Impact Fund

Stonehenge Growth Capital Fund

Stonehenge Capital Fund Texas

Stonehenge Capital Fund Alabama

Stonehenge Capital Fund Colorado

Fund Type

Diversified Private Equity

Mezzanine (Third-Party)

Multi-Stage Venture Capital

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Status

Open

Closed

Closed

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Amount

$28M

$200M

$24M

$99M

$99M

Sources

1

1

1

10

10

Stonehenge Capital Team

12 Team Members

Stonehenge Capital has 12 team members, including , .

Name

Work History

Title

Status

Michael P. Kirby

FCCI

Founder

Current

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Name

Michael P. Kirby

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Work History

FCCI

Title

Founder

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Status

Current

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