Smoothed-out wrinkles, bee-stung lips and flawless bikini lines – the beach bodies of the private equity gurus from KKR & Co will be looking better than ever this summer after the firm won the hotly-contested battle for Laser Clinics Australia.
As first reported by Street Talk, KKR, advised by Macquarie Capital, has paid in the mid-$600 millions for Laser Clinics, which represents an earnings multiple of between 13 and 15 times.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Joyce Moullakis writes on banking and finance, specialising in investment banking, private equity, and financial services. Connect with Joyce on Twitter. Email Joyce at jmoullakis@afr.com.au
