Portfolio News

Rush appoints former Costa MD as Chairman ahead of rollout

Rush, the hair and beauty brand that was backed by private equity firm LDC earlier this year, has appointed former Costa Coffee managing director Christopher Rogers as its non-executive chairman, with immediate effect. 

Christopher has over eleven years of experience as a main board director of Whitbread plc, the UK’s largest hospitality company, where he held roles as group finance director and managing director of Costa Coffee, one of the world’s leading coffee chains. He led Costa Coffee’s global expansion, during which time profits increased from £69million to £153million, and global store numbers increased from 2,200 to over 3,200. 

Rogers stepped down from his positions as Costa Coffee managing director and executive director for parent company Whitbread Plc in July last year. He is currently a non-executive director of Travis Perkins plc. 

Christopher has joined Rush to help accelerate the national rollout of the brand, as it looks to double its salon count over the next four years. With over 20 years of experience in leadership roles with some of the UK’s biggest names in the leisure and retail sector, he brings considerable knowledge and expertise to the business’ management team, led by founders Andy Phouli and Stell Andrew.

The appointment comes after LDC backed the £16million management buyout of the business in January 2017. 

Rush is a family-owned business which currently has over 85 sites, and operates a flagship salon called House of Rush on London’s Piccadilly. As part of the investment, it now plans to open a new Covent Garden academy which will offer industry leading training to stylists, and grow the Group’s online hair and beauty e-commerce platform. 

Launched over 22 years ago by life-long friends, Andy Phouli and Stell Andrew, Rush started out with a single salon in Wimbledon, recently expanding outside of London and the South with new stores in Manchester, Liverpool, Nottingham, Birmingham, Bristol and York. 

The business generates sales of over £36million with profit (EBITDA) of over £4million. It employs over 1,100 stylists and beauticians and serves over 13,000 customers each week. 

Chris will join investment directors Alastair Weinel and Tanya Thompson on the board of the business in a strategic advisory role. 

Commenting on his appointment at Rush, Chris Rogers said: “Rush’s journey to date has seen the business grow from a single salon to become a recognised name on many high streets across the UK. In such a fragmented market, this is a testament to the quality and reputation of the brand. This is an exciting new role for me, and I am looking forward to working with the team to increase the rate and scale of the business’ growth and explore new opportunities to add to its core proposition.” 

Andy Phouli, founder of Rush, said: “When we launched Rush our vision was to grow the business to become a UK-wide brand. To date, we have incrementally increased our footprint across the country and now with a private equity backer on board, we are looking to further build on our success. In Chris, we have someone who has experience at the helm of some of the UK’s biggest leisure and retail brands, and he is perfectly placed to help us achieve our long-term goals.”

Alastair Weinel, investment director, LDC in the South: “Chris will provide the additional firepower and experience needed to accelerate Rush’s national rollout and grow the brand, as it looks to consolidate its position as market leader in the hair and beauty sector. Part of our remit is to ensure we partner our portfolio with non-executives who add value and can share relevant experiences and learnings to help build stronger businesses with lasting value.”

 

Article Footnotes

Notes to Editors

  1. LDC is part of the Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority
  2. LDC back ambitious management teams from UK-based companies seeking between £2m and £100m of equity for management buy-outs, institutional buy-outs or development capital transactions.
  3. LDC invests in a broad range of sectors and has particular experience in Construction & Property, Financial Services, Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure and Support Services.
  4. LDC has a UK regional network of 9 offices.