1.0Smart Tan Newshttps://news.smarttan.comrich600338<blockquote class="wp-embedded-content" data-secret="bvluYKdeCz"><a href="https://news.smarttan.com/index.php/private-equity-firm-acquires-sunless-inc/">Private Equity Firm Acquires Sunless Inc.</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://news.smarttan.com/index.php/private-equity-firm-acquires-sunless-inc/embed/#?secret=bvluYKdeCz" width="600" height="338" title="“Private Equity Firm Acquires Sunless Inc.” — Smart Tan News" data-secret="bvluYKdeCz" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script type="text/javascript"> /* <![CDATA[ */ /*! This file is auto-generated */ !function(d,l){"use strict";l.querySelector&&d.addEventListener&&"undefined"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i<o.length;i++)o[i].style.display="none";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute("style"),"height"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):"link"===t.message&&(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document); //# sourceURL=https://news.smarttan.com/wp-includes/js/wp-embed.min.js /* ]]> */ </script> The indoor tanning market’s largest supplier of spray tanning booths this week announced a partnership with a private equity firm designed to speed up the company’s expansion plans. In a press statement issued this week, Sunless Inc. - the Ohio-based parent company of Mystic Tan and VersaSpa – announced that private equity group The Riverside Company has purchased controlling interest in the company – a move designed to infuse cash into expansion plans. “This deal will allow our company to speed up its growth trajectory,” Sunless Inc. CEO Scott Thomason said in the press statement. “We’re excited about continuing to innovate, expanding our product line, making the application of our products easier and more cost-effective, and increasing the overall sunless market.” Sunless Inc. says it serves roughly 2,000 salon owners who operate 4,500 locations. “The expected infusion of capital will also afford Sunless, Inc. the ability to improve production and service company-wide, further enabling their ability to effectively handle the category’s expected continued growth – a benefit to the company and their partners in sunless worldwide,” the company said in its statement. The Riverside Company claims to be the largest and oldest private equity firm investing in companies with enterprise values under $200 million, according to the company’s web site. The company reports managing more than $3 billion in assets through four fund groups with 250 business acquisitions completed. The company targets strong companies with track records “who desire even greater success.” Riverside has 19 offices in 13 countries – including an office in Cleveland, Ohio. “This segment of the tanning industry has been quickly growing due to innovation that has significantly enhanced the consumer experience,” Riverside Partner Steve Dyke said in the company’s press statement. “It’s a quick, convenient, and completely professional process. Tanners can step into a booth and emerge just minutes later with a rich, natural-looking tan.” The company’s press statement pointed out that, in addition to being a leader in spray tanning innovation, “Sunless is reaching a growing number of new customers who are discovering the positive benefits of indoor tanning.”https://smarttan.com/blog/wp-content/uploads/2011/08/sunlessriverside.jpg