A Manchester-based skincare company, which operated seven clinics under the brand names Kin Healthcare and Flint + Flint, has been acquired out of administration.
Edgbaston-headquartered Sk:n (Lasercare (Harrogate) Limited acquired Waveriver Limited after it ran into cashflow issues earlier this year.
Sk:in, which opened its first stand-alone clinic in Birmingham in 1993, has 58 clinics across the UK and offers a range of treatments from dermatology services, laser hair removal, anti-wrinkle injectables and tattoo removal.
Gavin Hawthorn, Sk:n chief marketing officer, said: “We are always looking for ways to deliver on our business strategy and this acquisition helps us take another step on our journey.”
Waveriver directors sought the service of Manchester-based corporate recovery firm Begbies Traynor to find a purchaser,
The agreement was made after a “range of offers” were received, with directors deciding the offer from Sk:in was the “most suitable”.
Dean Watson of Begbies Traynor, who helped to secure the deal, said the Sk:in brand is “highly reputable in the marketplace” and therefore “this acquisition makes perfect sense”.
