TORONTO, October 7, 2013 – Cranson Capital Solutions is pleased to announce today that it has completed a bank facility for Lynx Equity for the expansion of Topcuts, one of the largest privately held hair salon chains in Canada. Lynx Equity is a Canadian-based manager of private equity funds who owns and operates Topcuts. The loan from TD Bank is a combination of a cash flow loan of $1 million and an operating line of credit for $250,000, used for working capital. The cash flow loan will provide Topcuts with the ability to refinance private debt previously used to acquire Melonhead, a children’s hair salon chain.
“We provided Lynx Equity’s subsidiary Topcuts the right financing solution to expand their current market share at a more favourable cost than they previously had,” commented Jeffrey Mandell, Manager, Corporate Finance at Cranson Capital Solutions. “The additional funds allow Lynx Equity to focus on their core business, which is to pursue opportunistic acquisitions and build value through strategic leadership.”
About Lynx Equity
Lynx Equity Limited is a Canadian-based manager of private equity funds. Lynx Equity blends a proven track record in identifying and building value in a diversified portfolio of companies based primarily in Ontario, Canada with a market niche that allows us to structure the most favourable transactions. Lynx Equity seeks to pursue investments in mid-market companies with the goal of building value through opportunistic acquisitions, strategic leadership and the timely use of financial expertise. For more information visit www.lynxequity.com
Topcuts is one of Canada’s largest hair salon chains with locations across the country. The “no appointment” salon offers a range of services including, haircuts, styling, perms and colouring men, women and teens. Located throughout Canada and conveniently throughout the GTA, they are open long hours to serve the customer and use only salon quality products and hire licensed hairstylists. For more information on Topcuts, please visit www.topcuts.com
About Cranson Capital
Cranson Capital is a boutique investment banking firm which focuses on providing financial and advisory services to small to medium sized growth businesses. The business consists of two divisions; Cranson Capital Securities and Cranson Capital Solutions, both of which offer unique services to support our investors and entrepreneurs. Cranson Capital Securities is registered with the Ontario Securities Commission as an Exempt Market Dealer and specializes in raising capital from accredited investors for private placements in real estate developments, technology start-ups and high growth companies. Cranson Capital Solutions is a corporate finance advisory firm which focuses on finding the right financing solutions for our entrepreneurs.