Bangalore based salon chain R&R Salons Private Limited today concluded its second round of private equity funding. This round saw participation from Everstone Capital and its existing investor, Helion Venture Partners.

R&R Salons runs the “YLG” brand of salons, with nineteen salons in Bangalore and one in Pune. The proceeds of this fund raise will provide impetus to YLG’s organic growth plans and help it expand into major cities across the country.

Mr. Rahul Bhalchandra, the promoter and CEO of R&R Salons said, “We have drawn up aggressive expansion plans which involve opening up over 200 company owned salons over the next 6 years. We are delighted to partner with Everstone and believe that the business capital and high caliber of operational inputs provided by them would be a key enabler in the successful execution of our plans. Continued support from Helion reinforces its conviction in the company and in the mid-premium salon space in India”.

Mr. Gaurav Deepak, Managing Director at Avendus Capital said, “The Hair and Beauty Salon Industry in India is poised to grow at over 30% per annum, driven by the rising affluence and increasing consumer awareness. We believe that YLG presents a strong platform driven by a high quality management team, uniquely positioned to become the market leader in this space. The partnership with Everstone gives YLG a strong runway to execute its growth plans.”

Avendus Capital was the sole financial advisor to R&R Salons on this transaction.

About R&R Salons Private Limited

R&R Salons Private Limited is a Bangalore based company running the “YLG” brand of women-only salons. Started in 2008, it currently operates eighteen salons in Bangalore and one salon in Pune. It also operates an academy which offers hair and beauty training courses to students. The company is promoted by Mr. Rahul Bhalchandra. Helion Venture Partners had invested in the company in 2008.

For more information, please visit www.ylgindia.com 

About Everstone

Everstone Capital is an India focused investor with dedicated private equity and real estate funds with assets under management of around USD 1.6 billion. Founded in 2006 by Atul Kapur and Sameer Sain, Everstone Capital now has more than 100 people working across five offices and has invested over US$ 1 billion in India over the last 6 years. Everstone Capital has an active operational, hands-on approach to its private equity and real estate investment management businesses with a focus on companies that benefit from domestic consumption within India and several other sectors such as energy and infrastructure services. Some of Everstone's investments include Sula, VLCC, Blue Foods, IndoStar Capital, Crystal Crop Protection, Regen Powertech and Asian Genco.

For more information, please visit www.everstonecapital.com 

About Helion Venture Partners

Helion is a multi-stage, India-focused venture fund with over $600 million under management. The fund invests in businesses that are technology-powered or catering to the Indian consumer services space. The focus sectors of investment include - internet, mobile, technology products, outsourcing, Healthcare, education, retail services and financial services. The fund's investors are well-respected global institutions including top tier university endowment funds, sovereign funds, foundations, pension funds, family offices and Fund of funds. The fund and its portfolio companies are advised by an experienced and industry renowned team of professionals based in India and includes Sanjeev Aggarwal, Ashish Gupta, Kanwaljit Singh, Rahul Chandra and R Natarajan.

For more information please visit www.helionvc.com 

About Avendus Capital

Avendus Capital is a leading financial services firm which together with its group companies provides customised solutions in the areas of financial advisory, equity capital markets, alternative asset management and wealth management. Avendus Securities through its Institutional Equities practice is able to offer clients best-in-class research-driven advice to help them take investment decisions, while Avendus PE Investment Advisors manages funds raised from its investors by investing in public markets. The Group relies on its extensive track record, in-depth domain understanding and knowledge of the economic and regulatory environment, to offer research based solutions to its clients that include institutional investors, corporates and high net worth families. Avendus Capital has consistently been ranked among the top-five corporate finance advisors in India and has emerged as the advisor of choice for cross-border M&A deals and has closed 40 cross-border transactions in the past 4 years. Headquartered in Mumbai, the firm has offices in New Delhi and Bangalore. Avendus Capital, Inc (US) and Avendus Capital (UK) Pvt. Ltd. located in New York and London, respectively, are wholly owned subsidiaries offering M&A and Private Equity syndication services to clients in the respective regions. For more information, please visit www.avendus.com