In what could be a $590 million deal, which implies a valuation exceeding 20x EBITDA, Blackstone is in advanced discussions to acquire Juno Hair, South Korea's largest premium salon group. According to sources cited, the transaction would mark one of the largest buyouts in the market's fragmented beauty services sector.Founded in 1982 by CEO Kang Yun-seon, Juno Hair has become a household name with a loyal clientele through its direct ownership model, training academy, and premium positioning. The business operates more than 180 salons and employs over 3,000 staff, with reported revenues of approximately 300 billion won ($220 million) and EBITDA of 37 billion won ($27 million) last year.The business operates salons in the Philippines and Singapore, but Kang has been vocal about the desire for Juno to be "Korea's Vidal Sassoon" and has plans to expand into Southeast Asia, the Middle East, and North America. A deal with Blackstone would provide the capital for such an expansion, aligning with the private equity firm's broader strategy of backing high-potential Korean mid-market companies with strong cross-border appeal.The proposed acquisition would see Blackstone purchase the full stake in the business currently held by Kang and affiliated parties. Discussions are reportedly ongoing regarding the founder retaining a minority interest or post-transaction involvement in management.KPMG Samjong Accounting is managing the transaction process, but neither Blackstone nor Juno Hair has officially commented.