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Levine Leichtman Capital invests in med spa operator SEV

Los Angeles-based Levine Leichtman Capital Partners is investing in SEV, a Burbank, California-based manager and operator of med spas which provide cosmetic services such as laser hair removal, injectables and body contouring.

SEV, which was founded in 2010, will continue to be led by founder and CEO Sevana Petrosian and the existing management and clinical teams. Financial terms of the transaction were not disclosed.

Andrew Schwartz, partner at Levine Leichtman Capital, which manages $8.7 billion of assets, said: “SEV has built an incredible brand, compelling service offerings, and a loyal customer base. We believe strongly in the long-term potential of SEV and are excited to work closely with Sevana and the management team to drive growth through new office openings, same-store sales acceleration, and the introduction of additional service innovations.”

SEV, which manages or operates 27 offices across seven states with plans to continue expansion, is the tenth platform investment of Levine Leichtman Capital Partners VI, L.P.

LLCP has managed approximately $13.3 billion of institutional capital across 15 investment funds and has invested in over 100 portfolio companies.

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