CVC Credit Partners announced that it has provided the first lien funding for Vision Growth Partners' expansion of Alline Salon Group and going forward will further support the growth strategy through the provision of a delayed draw term loan facility as outlined further in the attached press release.

Founded in 2018, Alline is a market leader in affordable hair care services. It now operates nearly 400 salons under the Supercuts, Cost Cutters and Holiday Hair brands, primarily located across Ohio, Pennsylvania and Michigan. The business was created by Vision Growth Partners, as a platform on which to execute a controlled roll up of Regis Corporation’s previously corporate-owned hair salons.

David DeSantis, Head of CVC Credit Partners' U.S. Private Debt business, said: “Alline is a stable and attractive business, operating a successful franchise model in a recession resistant industry.” Andrew Eversfield, Director at CVC Credit Partners’ U.S. Private Debt, added: “Cowen was a great partner on this transaction, and we hold the Alline Management Team and VGP in high regard.  We are excited to provide our support to help grow the business further in the years to come.”