Empire Beauty Schools has completed the merger of its accredited cosmetology schools with the accredited cosmetology schools of Regis Corporation (NYSE:RGS), the global leader in the $150 billion hair care industry, to form Empire Education Group. The new company is the largest beauty school operator in North America. As a result of this transaction, Empire Beauty Schools owns 51% majority interest in the newly formed EEG, Inc., with Franklin K. Schoeneman, chairman and CEO, remaining the primary stockholder, and Regis owns a 49 percent minority interest. The transaction closed August 1, 2007. Previously, on April 19, 2007, the companies announced the signing of a definitive agreement to merge their cosmetology schools.
Franklin K. Schoeneman, chairman and chief executive officer of Empire Beauty Schools, will retain the same titles and responsibilities for Empire Education Group. Paul D. Finkelstein, chairman and chief executive officer of Regis Corporation, will hold a position on Empire Education Group’s board of directors.
“We are delighted to welcome these fine schools into our family,” says Schoeneman, whose family has owned and operated some of the most successful cosmetology schools in North America for more than 50 years. “We are now focused on adopting best practices from across the system to ensure the best education possible for our students, as well as the fastest enrollment process, so they can begin pursuing their dreams as quickly as possible.”
The merger expands the presence of both companies across North America and brings greater economies of scale to their shared operation of cosmetology schools. The new privately-held company will own and operate 87 schools in 18 states. They include A Cut Above (Indiana); Arthur Angelos (Rhode Island); Artistic Beauty Colleges (Arizona, Colorado); Blaine the Schools (Massachusetts); Chic University of Cosmetology (Michigan); Concorde Academy (New Jersey); Empire Beauty Schools (Georgia, Illinois, Maryland, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, Virginia); European Academy (New Jersey); The Hair Design School (Kentucky); Martin’s College of Cosmetology (Wisconsin); Natural Motion Institute (New Jersey); Pierre’s School of Cosmetology (Maine) and Scot Lewis Schools (Minnesota).
As a result of the merger, Empire Education Group has already added 136 new positions nationwide, with 93 located at its Pottsville, PA headquarters.
The schools’ first joint national effort will be Empire Education Group’s National Day of Beauty on Saturday, October 13, when each school will conduct a cut-a-thon and hold fundraisers for KidsPeace, the national beneficiary of Empire Education Group’s fundraising efforts.
About Empire Education Group
With a heritage of more than 70 years of quality cosmetology education, Empire Education Group, headquartered in Pottsville, PA, is the largest provider of beauty and cosmetology education in North America with 87 locations in 18 states. Using the exclusive Certified Learning in Cosmetology (CLiC) education curriculum, the company prepares students for successful careers in cosmetology (hair care, skin care, nail care and massage), an industry that needs more salon professionals than can be supplied to fill job openings. That means graduates can fulfill their career goals with increased earning potential and the ability to work flexible hours. Call 1-877-313-2066 and visit www.empire.edu.
Franklin K. Schoeneman, chairman and chief executive officer of Empire Beauty Schools, will retain the same titles and responsibilities for Empire Education Group. Paul D. Finkelstein, chairman and chief executive officer of Regis Corporation, will hold a position on Empire Education Group’s board of directors.
“We are delighted to welcome these fine schools into our family,” says Schoeneman, whose family has owned and operated some of the most successful cosmetology schools in North America for more than 50 years. “We are now focused on adopting best practices from across the system to ensure the best education possible for our students, as well as the fastest enrollment process, so they can begin pursuing their dreams as quickly as possible.”
The merger expands the presence of both companies across North America and brings greater economies of scale to their shared operation of cosmetology schools. The new privately-held company will own and operate 87 schools in 18 states. They include A Cut Above (Indiana); Arthur Angelos (Rhode Island); Artistic Beauty Colleges (Arizona, Colorado); Blaine the Schools (Massachusetts); Chic University of Cosmetology (Michigan); Concorde Academy (New Jersey); Empire Beauty Schools (Georgia, Illinois, Maryland, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, Virginia); European Academy (New Jersey); The Hair Design School (Kentucky); Martin’s College of Cosmetology (Wisconsin); Natural Motion Institute (New Jersey); Pierre’s School of Cosmetology (Maine) and Scot Lewis Schools (Minnesota).
As a result of the merger, Empire Education Group has already added 136 new positions nationwide, with 93 located at its Pottsville, PA headquarters.
The schools’ first joint national effort will be Empire Education Group’s National Day of Beauty on Saturday, October 13, when each school will conduct a cut-a-thon and hold fundraisers for KidsPeace, the national beneficiary of Empire Education Group’s fundraising efforts.
About Empire Education Group
With a heritage of more than 70 years of quality cosmetology education, Empire Education Group, headquartered in Pottsville, PA, is the largest provider of beauty and cosmetology education in North America with 87 locations in 18 states. Using the exclusive Certified Learning in Cosmetology (CLiC) education curriculum, the company prepares students for successful careers in cosmetology (hair care, skin care, nail care and massage), an industry that needs more salon professionals than can be supplied to fill job openings. That means graduates can fulfill their career goals with increased earning potential and the ability to work flexible hours. Call 1-877-313-2066 and visit www.empire.edu.
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