Private equity firm Princeton Equity Group completed a strategic investment in Stretch Zone, a franchised provider of practitioner-assisted stretch therapy services, the company announced on April 3.
The strategic investment will bring additional resources to support continued expansion of Stretch Zone's national footprint and facilitate additional client growth, according to Princeton Equity Group.
"We are very excited to partner with this talented management team to help foster the growth of Stretch Zone," said Jim Waskovich, co-founder and managing partner of Princeton Equity Group. "Stretch Zone has expanded rapidly and instilled a phenomenal culture throughout its franchisee base. The growth speaks to the leadership of Tony and Jorden and the incredible team that they have with them at Stretch Zone. We're looking forward to this next chapter of the company's trajectory, preserving its core values and continuing to drive positive change for its client base."
Stretch Zone was founded by Jorden Gold in 2004. Gold designed the world's first proprietary table and patented strapping system for practitioner-assisted stretch therapy. Since its inception, Stretch Zone has partnered with professional athletes, sports organizations, and resorts and spas as a proof of concept. Stretch Zone opened its first corporate location in 2015 and then its first franchise location in 2017.
"We pioneered the practitioner-assisted stretching vertical, and it's been a thrill and an honor to help improve the quality of lives and positively impact local communities as Stretch Zone expands." Gold said. "Stretching has always been a personal passion of mine and it's heartwarming to know that Stretch Zone has provided such a key wellness service for people of all ages."
Since then, CEO Tony Zaccario has positioned Stretch Zone for rapid growth, opening the 200th location in 2022 and surpassing 250 locations in early 2023.
Zaccario and his team will remain in their current roles with the company, according to the announcement.
"There is an immense amount of passion and purpose that has driven this brand to the remarkable growth it has accomplished so far, and we look forward to keeping the client and franchisee experience a top priority while taking the company to the next level" Zaccario said. "We are excited to have partners that are aligned with our vision and culture, and the team at Princeton Equity Group is just that. Together, we will continue to bring opportunities to entrepreneurs and wellness services to clients."
Boxwood, a boutique middle-market investment bank, acted as the exclusive sell-side advisor to Stretch Zone.