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Entertainment

Peppermint Hippo

The Pink Empire.
12+
Locations nationwide
27K
Sq ft Las Vegas flagship
$30M+
Revenue (2025)
20%
YoY revenue growth
The story

The nightlife brand that turned one Toledo club into a national platform.

Peppermint Hippo was founded in 2018 by industry veteran Alan Chang. It began with a single club in Toledo, Ohio, and grew into one of the fastest-rising brands in adult nightlife. The 27,000 square foot Las Vegas flagship, the only gentleman's club of its kind directly on Las Vegas Boulevard, cemented the brand's reputation through a $4.5 million top-to-bottom remodel featuring state-of-the-art sound and lighting, craft cocktail programs, and 24-hour programming. Today the brand and its affiliated entities operate over 12 clubs nationwide, delivering what they call the "Mini-Vegas" model to cities outside Las Vegas.

Peppermint Hippo is one of five verticals across the Greywater Capital portfolio. Our work on it came through that relationship. Through a strategic arrangement with Tradewinds Universal (OTCID: TRWD), Peppermint Hippo is leading an initiative to consolidate adult entertainment clubs across the United States into a modern, multi-brand conglomerate targeting 100+ locations nationwide. An institutional rollup of a category that has historically been operator-led, mom-and-pop, and not built for scale.

We produced the expansion toolkit for the multi-market capital raise. Capital decks positioned for public-company investors. Data-room and diligence materials. Market-story collateral that translated an adult-entertainment rollup into a credible growth narrative for OTC investors. Further details are under NDA. What Peppermint Hippo proves about our studio is that we can work in categories other studios will not. Nightlife, entertainment, and adult hospitality all require materials that take the category seriously without either sanitizing it or performing it. That is a specific skill.

What we built
The materials behind the expansion.
Peppermint Hippo capital deck
Peppermint Hippo brand materials
REINVENT
"We don't just open clubs. We reinvent them. Outdated spaces transformed into sleek, high-energy playgrounds that feel exclusive yet welcoming."
Peppermint Hippo · Brand Positioning
Scope of work
The toolkit behind the rollup.

We produced the capital and investor materials that supported Peppermint Hippo's expansion strategy and consolidation play. Capital decks tuned to public-company investor audiences. Diligence and data-room preparation for a multi-market roll-up. Brand and market-story collateral positioning adult nightlife as a legitimate institutional growth category. Materials that could stand up to scrutiny in a category most studios will not touch.

Capital Decks & IR Collateral Data-Room & Diligence Prep Expansion Strategy Materials
In the press
Coverage and recognition.
Las Vegas Review-Journal
South Park-Inspired Las Vegas Strip Club Peppermint Hippo Has Opened
July 2022
Las Vegas Review-Journal
Spearmint Rhino Sues Competitor Over South Park-Inspired Name
April 2024
GlobeNewswire
Tradewinds Universal Secures $10M Equity Line to Accelerate Roll-Up
February 2026
GlobeNewswire
TRWD Sets Aggressive Q2 Targets as Peppermint Hippo Partnership Advances
March 2026
GlobeNewswire
TRWD Partner Exceeds $30M Revenue Forecast; Up to Five New Locations Planned
April 2026
Vital Vegas
Peppermint Hippo Strip Club Gets Las Vegas Opening Date
March 2022
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