Ares-backed LaserAway explores sale, potentially valued over $2 billion
ARES sits 31% above its 52-week low of $95.8.
Summary
Ares-backed medical spa chain LaserAway is exploring a sale that could value the company at over $2 billion. Ares made a significant minority investment in LaserAway in 2021, and the company has since grown from 74 to 219 clinics. This potential exit highlights a successful investment for Ares, validating its private equity strategy and potentially contributing to future performance fees and carried interest. The sale process is currently in its early stages.
At the time of this announcement, ARES was trading at $125.35 on NYSE in the Finance sector, with a market capitalization of approximately $27.3B. The 52-week trading range was $95.80 to $195.26. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.