October 25, 2018
SkinSpirit Skincare Clinic and Spa (“SkinSpirit”), one of the Nation’s top destinations for medical aesthetic skin and body care with locations in California and Washington, has received an investment from PWP Growth Equity, the middle market private equity group of Perella Weinberg Partners. Cascadia Capital, an investment bank serving middle market clients globally, arranged and structured the financing and acted as the exclusive financial advisor to SkinSpirit in the transaction.
Strong consumer demand for medical aesthetic skin and body services is driving significant industry expansion and SkinSpirit, a first-mover in the space that has delivered positive results to clients since 2003, is a leading branded service provider in the segment. The investment from PWP Growth Equity will be used to accelerate SkinSpirit’s expansion in new and existing markets.
“Lynn Heublein and her team are innovative pioneers in the medical spa cosmetic dermatology industry. They have developed a unique model providing both the latest treatments, as well as a full line of beauty and wellness products,” noted John C. Siegler, the Cascadia Capital Managing Director responsible for this transaction. “PWP Growth Equity is an excellent partner for SkinSpirit. They have decades of success with experiential retailers and share with the SkinSpirit team a sense of entrepreneurial urgency and a desire to focus on customer satisfaction and flawless execution.”
“We are very excited about our partnership with PWP Growth Equity. They bring many key attributes that will help us achieve our strategic growth plan. Their experience scaling multi-unit service-based businesses will enable us to take full advantage of an accessible and sustainable market opportunity,” commented Lynn Heublein, Co-Founder and CEO of SkinSpirit.
Heublein continued, “This transaction would not have been possible without the assistance and insights of the Cascadia team. They provided outstanding guidance in bringing this deal to fruition, and as a result, we are very enthusiastic about the ability to accelerate the growth of SkinSpirit and fulfill our mission.”
“Within the aesthetics industry, there is a strong and growing consumer preference towards the non-invasive procedures that SkinSpirit offers its clients,” David Ferguson, Partner and Co-Founder of PWP Growth Equity, emphasized. “We believe SkinSpirit is well positioned to capitalize on the demographic and industry trends with the objective of becoming the leading national brand. We are delighted to partner with Lynn and her team, and we are extremely appreciative of John Siegler and Cascadia for bringing this unique opportunity to our attention. Cascadia’s professionalism, industry knowledge and deal management created a positive outcome for all parties.”
The investment by PWP Growth Equity in SkinSpirit represents another successful transaction in experiential retailing and restaurants by the Cascadia Consumer team.