Princeton Medspa Partners on Tuesday said it closed $120 million of committed financing. BC Partners, an alternative assets investor with approximately $40 billion of assets under management, provided the growth capital to refinance the Princeton-based 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 health care services businesses — adding over 400 units in less than five 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, multisite 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,” Waskovich, chairman of PMP, said.
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.
