Steiner Leisure completes Cortiva Group acquisition
Purchase price totalled $33m
Steiner Leisure has announced that it has completed the acquisition of the Cortiva Group for the purchase price of $33m, funded from existing cash and through borrowings under Steiner’s credit facility.
The Cortiva Group operates seven post secondary massage therapy schools with a total of 12 campuses located in Arizona, Florida, Illinois and at other sites across the US.
Leonard Fluxman, ceo of Steiner Leisure, commented on the acquisition: “We are very excited to strategically expand the geographic footprint of our schools division with the addition of the highly respected Cortiva Group. We look forward to integrating Cortiva with our existing operations and welcoming the Cortiva team to our education group.”
