Princeton Medspa Partners Closes $120 Million Growth Financing
PRINCETON, NJ (June 11, 2024) -- Princeton Medspa Partners (“PMP” or the “Company”), one of the leading national medspa acquisition platforms in the high-growth, highly fragmented, approximately $30 billion U.S. medical aesthetics market, is pleased to announce the closing of $120 million of committed financing. BC Partners, a leading alternative assets investor with approximately $40 billion of assets under management, provided the growth capital to refinance the Company’s existing credit facility and fund near-term acquisitions.
PMP owns and operates 10 injectables-focused medspa clinics located in attractive suburban markets. Since 2022, the Company has built a scaled platform leveraging its reputation as the “Partner of Choice” for provider-owned practices. PMP is led by its team of experienced operators, who have successfully built multiple consumer and healthcare services businesses – adding over 400+ units in less than 5 years, combined. The Company has significant runway to acquire market-leading suburban clinics and help providers better operate and grow their practices. PMP was founded by Jim Waskovich, who is also the Co-founder and Managing Partner of Princeton Equity Group, a leading private equity firm with substantial experience in high-growth, multi-site companies.
"We are excited to partner with PMP and the Princeton Equity Group team, given their impressive track record growing the Company to where it is today. We believe the new capital will further elevate the business to achieve its strategic goals," said Ted Goldthorpe, Partner at BC Partners Credit.
"BC has brought a unique offering through its ability to offer a turn-key capital solution that addressed our needs. We are thrilled to partner with BC and unlock the next phase of growth for PMP," said Waskovich, Chairman of PMP.
Princeton Medspa Partners was advised by Piper Sandler & Co. and Akin Gump Strauss Hauer & Feld LLP. BC Partners was represented by McDermott Will & Emery LLP.
About Princeton Medspa Partners
PMP specializes in partnering with leading medical spas and providing the best aesthetic services in the United States. The Company possesses an unprecedented team of aesthetic pioneers and thought leaders who bring decades of experience and a proven track record to every partnership. PMP is guided by core values of integrity, safety, personalized service, and industry-best results.
About BC Partners
BC Partners is a leading international investment firm in private equity, private credit and real estate strategies. Established in 1986, BC Partners has played an active role in developing the European buyout market for three decades. Today, BC Partners executives operate across markets as an integrated team through the firm’s offices in North America and Europe. For more information, please visit https://www.bcpartners.com/.
BC Partners Credit was launched in February 2017 and has pursued a strategy focused on identifying attractive credit opportunities in any market environment and across sectors, leveraging the deal sourcing and infrastructure made available from BC Partners.
About Princeton Equity Group
Princeton Equity Group is a leading private equity firm focused exclusively on control investments in high growth franchisor and multi-site companies. Princeton views each investment as a long-term, supportive business partnership with founders and management teams to help build companies of great value. The firm has offices in Princeton, NJ and Dallas TX and manages over $1 billion of assets. For more information, please visit www.princetonequity.com.