Transaction Announcement: Shear Drive Group
Dallas, Texas; Addison, Texas
Dekos Capital (“Dekos”), the Dallas-based investment firm, and Peninsula Capital Partners (“Peninsula”) are excited to announce their investment into Shear Drive Group (“Shear Drive”), a leading Floyd’s 99 Barbershop (“Floyd’s 99”) franchisee serving the Texas, Oklahoma, and Arkansas markets. Headquartered in Addison, TX, and founded in 2006, Shear Drive operates 25 barbershops across Dallas/Fort Worth, Houston, Oklahoma and Northwest Arkansas. MAD Concepts Group (“MAD Concepts”), a multi-concept operator based in Addison, Texas, will continue to support the franchise base alongside Dekos and Peninsula.
Courtney Lindley, President of MAD Concepts, stated, “Dekos and Peninsula’s understanding of our business model, willingness to provide operational support, and financial commitment to expand our footprint made them the preferred partner to support our growth plans and enhance our ability to serve existing and new clients.”
Shear Drive is the largest franchisee in the Floyd’s 99 system with exclusive development agreements in the territories it operates. Following the investment, Shear Drive opened its flagship location in Owasso, Oklahoma, a rapidly growing suburb of Tulsa. Dekos and Peninsula’s investment will also support the company’s continued footprint expansion in the Southern U.S. via de novo barbershop openings and investment in existing barbershop operations.
“We are excited to partner with a management team that has a long history of operating and developing Floyd’s barbershops and a reputation for driving results,” commented Asad Berani, Managing Partner at Dekos. “We have invested in an exceptional set of people and shops in a prolific region of the country with long-term potential and an ability to capitalize on several near-term tangible value creation initiatives.”
Chris Gessner, Managing Director at Peninsula, added, “Shear Drive has an exceptional track record of client service and geographic expansion. We are thrilled to partner with Dekos, the Shear Drive team, and the Floyd’s 99 franchise to expand the company’s reach and better serve the needs of our customers in different markets.”
With 137 locations nationwide, Floyd's 99 Barbershop is a rapidly growing leader in the barbershop industry. Floyd's 99 offers a full-service grooming experience, featuring skilled barbers and stylists who provide high-quality haircuts, coloring, and shaves. Customers can also enjoy a unique, rock-n-roll themed atmosphere with personalized service and a diverse range of hair care products. Floyd's 99 is committed to delivering an exceptional grooming experience that keeps clients coming back.
“Dekos is pleased to partner with Shear Drive’s team to pursue and execute on a multitude of expansion opportunities across the Texas, Oklahoma and Arkansas markets. The investment in Shear Drive reflects compelling growth trends in the aesthetic sector, coupled with attractive demographic trends in the markets in which we operate,” added Jaison Thomas, Managing Partner at Dekos Capital.
McGuireWoods LLP served as legal counsel to Dekos. Wick Phillips served as legal counsel and Pinecrest Capital Partners served as financial advisor to Shear Drive.
About Shear Drive
Shear Drive Group is a leading Floyd’s 99 Barbershop franchisee operating 25 locations across Dallas-Fort Worth, Houston, Tulsa, and Northwest Arkansas. Shear Drive was founded in 2006 and is headquartered in Addison, Texas.
About Floyd’s 99 Barbershop
Floyd’s 99 was founded in 1999 by Paul, Bill, and Rob O’Brien, three brothers who realized there was an underserved market in the haircare industry: the space between discount barbershops and high-end salons. The company believes in making the grooming experience enjoyable by blending top-notch service with a vibrant, inclusive and engaging atmosphere. Renowned for its skilled barbers, unique ambiance, and exceptional customer service, Floyd's 99 offers personalized haircuts, shaves, and coloring services. Headquartered in Denver, the company has 137 locations across the United States with a strong presence in numerous states and a rapidly expanding footprint across the country. https://www.floydsbarbershop.com
About Peninsula Capital Partners
Peninsula Capital Partners is an investment company specializing in providing junior capital, including subordinated debt, preferred stock or common stock, either as a minority or control investor, to superior middle-market companies. Founded in 1995, Peninsula has raised eight investment partnerships totaling approximately $2.2 billion of committed capital, with over 140 investments in a wide range of industries.
About Dekos Capital
Dekos Capital is a Dallas-based investment firm focused on investing in middle market companies that are at an inflection point in their growth trajectories across several targeted industries. We take an operationally-focused and hands-on approach with our company partnerships and value relationships with ownership and management teams.
Dekos looks for opportunities to be a value-added partner to founders, families and privately-held businesses that are seeking transition planning or liquidity. Dekos’ principals have led transactions collectively representing in excess of $1.5 billion of transaction value and come from entrepreneurial backgrounds that allow us to understand the needs of business owners. As a result, the transition plan and liquidity event are designed to preserve and honor the legacy of the owner and the company.
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