Client Request
The client engaged our firm to deliver an independent valuation of a privately held international group operating in the non-surgical hair replacement and aesthetic services sector. The objective was to assess the fair enterprise value of the group and its operating entities, based on current financial performance, forward-looking expectations, and prevailing market conditions.
The valuation was required to support strategic planning and shareholder-level decision-making, with a particular focus on reflecting the group’s multi-jurisdictional structure.
Project Overview
The engagement covered a group of seven operating companies across three countries:
United Kingdom (three entities)
United States – California (one entity)
Germany (three entities)
The group provides non-invasive hair replacement systems, studio-based aesthetic services, and subscription-driven solutions targeting individuals seeking alternatives to surgical procedures. The companies vary in scale and maturity, requiring both standalone valuations and a consolidated group assessment.
Approach and Methodology
To ensure a robust and defensible outcome, we applied a triangulated valuation framework, combining:
Discounted Cash Flow (DCF) analysis for entities with reliable cash-flow visibility
Relative Valuation using trading multiples from comparable companies in the business & consumer services and healthcare support services sectors
Precedent Transactions analysis based on recent M&A activity within the aesthetic, beauty, and wellness industries
Country-specific assumptions were applied for cost of capital, long-term growth, and tax considerations, ensuring each entity’s valuation accurately reflected local market dynamics and risk profiles.
Scope and Execution
Our work covered the full valuation process, from financial analysis to group consolidation.
Key deliverables included:
Standalone valuation ranges for all seven operating entities
A consolidated group valuation using a sum-of-the-parts approach
A professionally structured valuation report suitable for internal and external use
Delivery timeframe: Approximately 2 weeks, including review and validation stages.
Outcome
The engagement resulted in a clear, independently supported valuation range for both the individual companies and the group as a whole. The final valuation provided the client with a transparent and credible framework for strategic planning, shareholder discussions, and future corporate decision-making.
The report was delivered in a presentation-ready format and was later used alongside other expert analyses, confirming the clarity, reliability, and professional standard of the work.