Cosmetic Skin & Laser Center Partners with Incline Equity

Partnership Creates a New Growth Platform in the Rapidly Expanding MedSpa Sector
  • mei 2023
  • Healthcare
  • M&A: Sell-Side
  • US
  • ACQUISITION

Livingstone’s Healthcare team has advised Cosmetic Skin and Laser Center (“CSLC” or the “Company”), a market-leading multi-location aesthetic medical practice, on its majority recapitalization with Incline Equity Partners (“Incline”). Livingstone acted as the exclusive financial advisor to CSLC. Transaction terms were not disclosed.

Headquartered in Petoskey, Michigan, CSLC offers aesthetic and regenerative services, including cosmetic injectables, skin rejuvenation, body contouring, and liposuction. The Company differentiates itself by taking a consultative, medical approach to patient care with services performed by a full-time team that includes physician assistants, nurse practitioners, and aestheticians. CSLC has established a loyal, reoccurring customer base in Northern Michigan and Southwest Florida.

“We are thankful for the highly qualified employees who have helped us make CSLC an award-winning practice,” said Courtney Lo, Co-Founder and CEO of CSLC. “Our partnership with Incline allows us to invest in continuous practitioner training, state-of-the-art equipment, and additional services to address our patients’ ongoing and changing needs.” 

The MedSpa sector has experienced a significant influx of investor interest and institutional capital over the last 18 months. Through the CSLC process, Livingstone developed contemporaneous knowledge of the current industry consolidators and the numerous private equity firms seeking a platform investment.  The transaction also afforded Livingstone a deep understanding of and appreciation for the key considerations that drive value and investor appetite.

“Since founding CSLC over 20 years ago – well before MedSpa was even a category – Courtney and Gus Lo have meticulously built a true market leader by delivering a premium customer experience and exceptional patient results,” commented Ryan Buckley, Partner at Livingstone Partners. “The partnership with Incline will enable CSLC to maintain its rapid growth across existing markets and new geographies, thereby positively impacting a larger patient population.”

Livingstone continues to prosper during the first half of 2023, completing 23 transactions globally, 11 of which were U.S.-based M&A deals totaling over $900 million of transaction value.

“CSLC furthers Livingstone’s deep resume in multi-unit consumer-facing healthcare as well as its growing presence in the broader health and wellness sector,” stated Mark Carl, Managing Director at Livingstone.

Honigman LLP served as legal counsel to CSLC, while K&L Gates LLP served as legal counsel to Incline.


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  • "We are thankful for the highly qualified employees who have helped us make CSLC an award-winning practice. Our partnership with Incline allows us to invest in continuous practitioner training, state-of-the-art equipment, and additional services to address our patients’ ongoing and changing needs."
    Courtney Lo, Co-Founder and CEO of CSLC

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