Factory Capital secures $50M of $100M raise, launches US tattoo and body piercing platform
Operating company Factory Capital has secured $50 million of its planned fundraising round, representing half of its capital target, as it launches a groundbreaking US tattoo and body piercing platform.
The capital raised is already being deployed with the launch of Tattoo Partners, which is anchored by four cornerstone acquisitions totaling 11 studios across leading US markets including New York City, Miami, Las Vegas, Phoenix and Houston. The strategic acquisitions, featuring Club Tattoo, Starlight Tattoo, and Inked Tattoo Shops, are scheduled to close by August 2025, establishing Factory Capital as the first institutional platform in the fragmented tattoo sector.
“We have identified a compelling opportunity in an industry with over 23,000 service points across the US.”
Mark Evans, Factory Capital, Founding Partner
Mark Evans, a Founding Partner of Factory Capital, said: “Drawing on the success of building Removery into the world’s largest laser tattoo removal network, we have identified a compelling opportunity in an industry with over 23,000 service points across the US. The sector mirrors the same scaling challenges we’ve solved in other multi-unit businesses, while increased consumer acceptance of tattoos continues to drive demand for premium experiences.”
The acquired portfolio brings together three established operators with proven track records. Club Tattoo founded in 1995 by Sean Dowdell, operates six locations in Phoenix and Las Vegas and is arguably the most sophisticated operator in the space. Starlight Tattoo, founded by Mario Barth in 1997, operates two studios in New Jersey and Las Vegas. Starlight Tattoo, founded by Mario Barth in 1997, operates two studios in New Jersey and Las Vegas, with a third Las Vegas studio opening Fall 2025.
Factory Capital announced on 5 June its plans to raise $100 million in on balance sheet capital, marking the first time the firm has invited external investors to participate.
Dan Ritchie, Factory Capital, Chief Executive Officer, commented: “This raise transforms us into a holding company with permanent capital, allowing us to hold businesses for decades rather than constantly recycling funds. After 15 years of 50% IRRs, we’re now offering external investors founder-level access to our proven, operationally focused approach.”
The raise is expected to complete in full by the end of Q3 2025.
Read coverage in The Australian Financial Review.