Originally published Tuesday, September 13, 2005 at 12:00 AM
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Hair-removal business sold to Michigan rival
Advanced Laser Clinics, a Lynnwood-based franchiser of hair-removal businesses, was acquired by its largest competitor, American Laser Centers...
Advanced Laser Clinics, a Lynnwood-based franchiser of hair-removal businesses, was acquired by its largest competitor, American Laser Centers of Farmington Hills, Mich., the company announced yesterday.
American Laser said it expects the deal to more than double its outlets' total revenue this year to $60 million.
Rich Morgan, founder and president of privately held American Laser Centers, said buying Advanced Laser gives his company a strong West Coast presence.
Advanced had some 70 franchise and company-owned stores in 24 states, including 20 in California and five in Washington.
American Laser had 52 corporate-owned sites in 17 states.
Rick Frisk, who co-founded Advanced in April 2000 with partner Chris Par, said he will run American Laser's newly launched franchise business, in which he will have a 40 percent stake.
Terms of the transaction, completed in July, were not disclosed.
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