Advanced Dermatology and Cosmetic Surgery Has Completed a Recapitalization with Audax

Brentwood Capital Advisors LLC is pleased to announce that it served as the exclusive financial advisor to Advanced Dermatology and Cosmetic Surgery (“Advanced Dermatology”, or the “Company”) in a recently completed recapitalization. Headquartered in Maitland, Florida, Advanced Dermatology, is a leading network of dermatology clinics in the U.S. providing clinical and cosmetic dermatology and skin care services at 53 company-affiliated clinics throughout Florida and Ohio. The Company also provides billing, coding, collection and other management services to over 70 independent dermatology clinics under the trade name Ameriderm.

The recapitalization provides Advanced Dermatology with the capital to accelerate its growth strategy of developing new clinics and making strategic acquisitions. Audax Group led an equity investment in Advanced Dermatology, which included co-investment by Brentwood Capital Partners, L.P.

“Advanced Dermatology is excited to be partnering with Audax to help launch the next stage of our growth. We will continue to be a physician-led organization focused on delivering the highest quality clinical care and products to our patients. This investment positions us to accelerate our growth both organically and through acquisitions, said Dr. Matt Leavitt, Chief Executive Officer of Advanced Dermatology. “We are very pleased to have worked with Brentwood Capital on this important transaction. They are trusted advisors who played a critically important role and conducted a highly-competitive process that generated results that exceeded our expectations.”

“This transaction strengthens Advanced Dermatology’s position as a leader in its markets and provides a catalyst that will accelerate the Company’s already impressive growth trajectory. We enjoyed a close working relationship with Dr. Leavitt and his management team and are pleased to represent leading healthcare services companies, such as Advanced Dermatology,” said Kevin Murphy, Managing Partner of Brentwood Capital Advisors LLC.

About Advanced Dermatology and Cosmetic Surgery

Founded by Dr. Matt Leavitt in 1990, Advanced Dermatology and Cosmetic Surgery currently operates 53 clinics in Ohio and Florida and provides management services to over 70 clinics in the United States. The Company specializes in complete care for the skin, hair and nails, including the diagnosis and treatment of skin cancer, rashes, and acne and aesthetic services such as Botox, Collagen and laser treatments.

About Brentwood Capital Advisors LLC

Brentwood Capital Advisors LLC, founded in 1999, is a privately held investment bank headquartered in Nashville, Tennessee, providing mergers & acquisitions and capital-raising advisory services to middle-market companies in the healthcare, information technology, financial services and business services sectors. BCA has served as exclusive financial advisor in over 50 successfully closed transactions in these sectors. For more information, visit www.brentwoodcapital.com.

About Audax Group

Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston and New York, Audax has raised in excess of $5.0 billion of equity, mezzanine debt, and senior loan capital. For more information visit the Audax Group website www.audaxgroup.com.

About Brentwood Capital Partners, L.P.

Formed in June 2009, Brentwood Capital Partners, L.P., is a $15.15 million private equity fund that makes later-stage co-investments with leading private equity firms in control and non-control investment banking transactions in which Brentwood Capital Advisors LLC serves as exclusive financial advisor. The fund’s limited partners are comprised of CEOs and business leaders from across the Southeast.