Date Published: 12th September 2019
Award-winning national skincare specialist sk:n has completed a deal to acquire a Manchester-based business.
Sk:n (Lasercare (Harrogate) Limited acquired the business and assets of Manchester-based Waveriver Limited, a company which operated seven clinics under the brand names Kin Healthcare and Flint + Flint.
Waveriver ran into cashflow issues earlier this year and the directors approached Real Business Rescue - part of Begbies Traynor Group - to seek a purchaser so the business could continue.
After marketing the business for sale Begbies Traynor secured a range of offers and the directors agreed the offer from sk:n was the most suitable.
The award-winning company was founded in Harrogate in 1990 where it pioneered port wine stain birthmark removal in partnership with the NHS. A stand-alone clinic was opened in Birmingham City Hospital in 1993, followed by a private clinic on Harley Street in the same year. From its headquarters in Edgbaston, Birmingham it has become the UK’s leading skin clinic with 58 clinics across the UK.
Treatments range from dermatology services, including acne and acne scarring, and laser hair removal to anti-wrinkle injectables and tattoo removal.
Dean Watson of Begbies Traynor, who helped to secure the deal, said:
“We are pleased to have worked with sk:n to make this deal work. It is a highly reputable brand in the marketplace and this acquisition makes perfect sense.”
Gavin Hawthorn, Chief Marketing Officer at sk:n, said:
“We are always looking for ways to deliver on our business strategy and this acquisition helps us take another step on our journey.”
Dean is a Qualified Accountant (FCCA) and Licensed Insolvency Practitioner with over 25 years experience in the accounting profession. Dean joined Begbies Traynor in 1999 after spending 10 years working in general audit and accountancy practice. Based in the Manchester and Preston offices, he has worked on a variety of assignments including formal insolvency appointments and providing advice to various stakeholders in situations where financial distress is present.
Dean has gained significant experience in the Legal Sector after dealing with a number of distressed Legal and other professional services firms in recent years and jointly heads up the North West Professional Services team.
As well as business reviews and formal insolvency appointments, practical solutions and hands on turnaround assignments have also been one of Dean’s main focuses. This has generally been in support of high street clearing banks and other financial institutions.