![\"sunlessriverside\"](\"https:\/\/smarttan.com\/blog\/wp-content\/uploads\/2011\/08\/sunlessriverside.jpg\" "\\"sunlessriverside\\"")
<\/p>\nThe indoor tanning market\u2019s largest supplier of spray tanning booths this week announced a partnership with a private equity firm designed to speed up the company\u2019s expansion plans.<\/p>\n
In a press statement issued this week, Sunless Inc. – the Ohio-based parent company of Mystic Tan and VersaSpa \u2013 announced that private equity group The Riverside Company has purchased controlling interest in the company \u2013 a move designed to infuse cash into expansion plans.<\/p>\n
\u201cThis deal will allow our company to speed up its growth trajectory,\u201d Sunless Inc. CEO Scott Thomason said in the press statement. \u201cWe\u2019re 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.\u201d Sunless Inc. says it serves roughly 2,000 salon owners who operate 4,500 locations.<\/p>\n
\u201cThe 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\u2019s expected continued growth \u2013 a benefit to the company and their partners in sunless worldwide,\u201d the company said in its statement.<\/p>\n
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\u2019s 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 \u201cwho desire even greater success.\u201d<\/p>\n
Riverside has 19 offices in 13 countries \u2013 including an office in Cleveland, Ohio.<\/p>\n
\u201cThis segment of the tanning industry has been quickly growing due to innovation that has significantly enhanced the consumer experience,\u201d Riverside Partner Steve Dyke said in the company\u2019s press statement. \u201cIt\u2019s a quick, convenient, and completely professional process. Tanners can step into a booth and emerge just minutes later with a rich, natural-looking tan.\u201d<\/p>\n
The company\u2019s press statement pointed out that, in addition to being a leader in spray tanning innovation, \u201cSunless is reaching a growing number of new customers who are discovering the positive benefits of indoor tanning.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The indoor tanning market\u2019s largest supplier of spray tanning booths this week announced a partnership with a private equity firm designed to speed up the company\u2019s expansion plans. In a press statement issued this week, Sunless Inc. – the Ohio-based parent company of Mystic Tan and VersaSpa \u2013 announced that private equity group The Riverside […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6461","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\n