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Private Equity Firms Acquire American Laser Centers
Date:12/10/2007

Former PepsiCo Executive Gary Graves to Join as CEO

FARMINGTON HILLS, Mich., Dec. 10 /PRNewswire/ -- American Laser Centers, the largest provider of laser hair removal and other noninvasive aesthetic services in the United States, announced it has been acquired by Chicago-based private equity firms Code Hennessy & Simmons LLC ("CHS") and The Edgewater Funds. Specializing in private equity investments and recapitalizations of middle market companies in partnership with management, CHS and The Edgewater Funds become the majority owners of the company.

As part of the ownership transfer process, Gary Graves has been appointed CEO to succeed Founder and CEO Rich Morgan.

Prior to joining American Laser Centers, Mr. Graves was CEO of Chicago- based La Petite Academy, Inc., the second largest for-profit preschool educational center which operates 645 schools in 36 states and the District of Columbia, where he gained significant expertise marketing to a female customer base. Prior to that, Mr. Graves was COO of InterPark, the world's premier owner, manager, and developer of parking facilities. In addition, he has a strong multi-location business management background holding top positions at Boston Market, PepsiCo and Yum Brands. Mr. Graves currently serves as a non- executive Chairman of the Board for Caribou Coffee and is an independent member of Caribou Coffee's Board of Directors.

"I am eager to lead American Laser Centers," said Mr. Graves. "This is an exciting time in the aesthetic treatment industry and it is rewarding to be at the helm of the leader in the space."

Mr. Morgan adds, "To continue American Laser Centers' rapid growth and expansion, Gary brings a wealth of relevant experience with major consumer brands and the female market paired with a keen understanding of operational efficiency. We know his skills are essential to building upon our strong brand identity and executing our vision to remain the leader in
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SOURCE American Laser Centers
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