Boxwood Partners Advises on Strategic Investment in Stretch Zone
Recent Transaction Underscores Boxwood’s Expansion into Health & Wellness Sector
JUPITER, FL – (April 4, 2023) – Boxwood Partners is pleased to announce that Stretch Zone, a leading provider of practitioner-assisted stretching, has received a strategic investment from Princeton Equity Group, a private equity firm focused on the franchisor and multi-unit industry.
Boxwood, a leading boutique middle-market investment bank known for its deep experience with entrepreneur and family-owned businesses, acted as the exclusive sell-side advisor to Stretch Zone.
The Boxwood team leading the transaction included Brian Alas (Managing Director), Dan Martinson (Vice President), John Atkinson (Associate) and Drew Frank (Analyst). The terms of the deal were not disclosed.
The deal marks Boxwood’s third transaction within the health and wellness sector. Previously, Boxwood advised Harvest Partners on the acquisition of Hand & Stone Massage and Facial Spa, as well as advising Tucker’s Farm on its investment in VIO Med Spa.
Stretch Zone was founded by Jorden Gold in 2004, who designed the world’s first proprietary table and patented strapping system for practitioner-assisted stretching. From rehabbing injuries to preventative maintenance, Stretch Zone’s market continues to grow. Led by CEO Tony Zaccario, the brand has grown to more than 250 franchise locations and continues to lead the assisted stretch market with its premier practitioner training and protocols, quality of service provided, and national footprint. Zaccario and his team will remain in their current roles with the company to build on the momentum.
“Stretch Zone has emerged as a leader within the health and wellness sector, and we’re excited to see the next level of success for the brand alongside Princeton,” said Brian Alas, Managing Director of Boxwood Partners. “The Company continues to benefit from both increased awareness of its services and how applicable their services are to so many people. From Gen Z to Millennials to Baby Boomers, consumers across a wide spectrum of demographics have embraced the therapeutic benefits of stretching as an important part of their fitness and wellness regimen. Coupled with the strong unit level economics and membership-based model, Stretch Zone is well positioned to continue its momentum.”
“Boxwood’s deep expertise within franchising, and more specifically within health and wellness, played an instrumental role to find the best strategic partners,” said Tony Zaccario, CEO of Stretch Zone. “Princeton’s resources and operating partners will enable us to further focus on helping our franchisees succeed while expanding our presence to be able to bring our service offerings to more clients.”
Jim Waskovich, co-founder and managing partner of Princeton Equity Group, said Boxwood played a key role in helping to facilitate a seamless transaction. “Our strategic investment will bring additional resources to help support franchisees and the continued expansion of Stretch Zone’s national footprint,” Waskovich added.
David Barkus, Jordan Schneider and Gabrielle Engel of Holland & Knight served as legal counsel to Stretch Zone.
About Boxwood Partners
Boxwood Partners, LLC is a boutique investment bank based in Jupiter, Florida with offices in Richmond, Virginia. Boxwood Partners combines a unique blend of senior-level transaction advisory, business operating experience, and proven process execution skills to give its clients a distinct advantage in the market. The firm’s extensive relationships within the global capital and buyer communities (including U.S. and international private equity groups, corporations, and lenders) and other important transaction-related service providers such as consultants, attorneys, and accountants, ensure that the firm’s clients receive the attention, service, and results they deserve. For more information about Boxwood Partners, please visit www.boxwoodpartners.com.
About Stretch Zone
Stretch Zone was founded in Miami in 2004 by Jorden Gold, one of the world’s foremost experts in practitioner-assisted stretching. By focusing and expanding upon the therapeutic benefits of stretching, Stretch Zone has revolutionized the fitness industry and completely reinvented the concept of “the stretch.” Routine professional stretching can have a strong impact on your overall health, quality of life, recovery, and everyday performance.
About Princeton Equity Group
Princeton Equity Group is among the most experienced franchisor and multi-unit investors in the United States and exclusively invests in leading franchisor and multi-unit 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 principals at Princeton have sponsored investments in some of the most admired, growth-oriented franchisors and multi-unit companies in the U.S.
