Rush Hair & Beauty have partnered with LDC
Rush Hair & Beauty have some very exciting news! On Sunday 22nd of January, Andy Phouli announced to the group his amazing news, Rush have secured a £16 million investment from LDC.
The announcement took place at the annual Rush Oscars, at The Savoy Theatre in London. Andy congratulated the group on the achievements of 2016, which included opening 11 new salons and revamping 4 existing ones. After the Co-Founder and Chairman finished congratulating the group he announced the big news, Rush have secured a £16 million investment from LDC.
LDC (part of Lloyds banking group) are a leading player in the private equity mid-market, they provide funds for buyouts and developments for UK companies. Established in 1981, LDC work with management teams, advisors and partners to create a successful working relationship. The group has supported more than 550 management teams with investment totaling almost £4 billion, over the last 35 years.
The £16 million investment will help Rush expand as a brand and double its salon count over the next four years. The new academy in Covent Garden is opening, which the partnership will also support and Rush as well as focusing on Shop Rush, which is the group’s hair and beauty e-commerce platform.
After Andy had announced the news, Stell Andrews, Co-Founder of Rush joined the stage where he told the audience a story about a young man who tried to get a loan from the bank. He wanted the loan to start up his own salon and was sadly refused. When he finally managed to get a loan from his bank manager, the bank gave him a book called the ‘Small business guide‘.
At the end of the story, Stell revealed that he was the young adult who received the bank loan, and the book was given to him by Lloyds bank. It was such a lovely story to share with the group as LDC (part of Lloyds bank) have now invested in the business. Andy and Stell introduced Yann Souillard, Managing Director of LDC in the south to the group. Yann introduced himself and explained how excited LDC was about their new investment.
As part of the deal Rush welcome Investment Directors Alastair Weinel and Tanya Thompson to the board. We cannot wait to work with LDC! Make sure you keep up to date with all Rush-related news to see what salons are opening this year!