SAN FRANCISCO & FORT WORTH, Texas & TAMPA, Fla.--(BUSINESS WIRE)--TPG Growth, the middle market and growth equity platform of alternative asset firm TPG, today announced that it acquired a significant minority stake in Ideal Image, North America’s leading aesthetics brand that is making personal aesthetic and wellness services more affordable, accessible, and effective than ever before. Ideal Image will continue to be majority owned by L Catterton, the world’s largest consumer growth investor. Additional terms of the transaction were not disclosed.
Ideal Image is a direct-to-consumer aesthetic brand with a mission to help people look and feel their best. Powered by its national tele-consultation platform, clients can conduct free virtual consultations from anywhere and receive services at any of Ideal Image’s national point of care centers across its rapidly growing network in North America. Ideal Image’s team of over 800 specialists are committed to delivering clients real life-changing results by offering a variety of FDA-cleared aesthetic treatments, including laser hair removal, body sculpting, Botox, anti-aging services and medical grade skin care. Ideal Image is a division of Steiner Leisure Limited.
“We are proud to have the backing of industry leading growth investors,” said David Prokupek, CEO of Ideal Image. “We continue to enjoy the unwavering support of our partners at L Catterton and are excited to welcome TPG Growth’s deep capabilities and expertise in the consumer and healthcare sectors. We believe we are transforming the aesthetics and wellness category, and with the support of our existing and new investors, we are moving aggressively to make it more accessible than ever for consumers who want to look and feel their best.”
“Personal care and beauty services continue to be thematic focuses for TPG Growth, and we are excited to back the leading aesthetics brand in the space,” said Heather Smith Thorne, Partner at TPG Growth. “Ideal Image’s unique tele-consultation experience and broad point of care offering has proven to resonate incredibly well with clients. We can see from the performance of the business that Ideal Image’s clients are not only successfully achieving their personal care goals but are also frequently returning to take advantage of the company’s other aesthetic and wellness services.”
“We are delighted to be joined by TPG Growth at this exciting time for Ideal Image,” said Marc Magliacano, a Managing Partner in L Catterton's Flagship Fund. “Ideal Image is disrupting the wellness and aesthetics category as the only scaled national brand and is bringing its medically led solutions to the home in addition to servicing their guests across the largest point of care network in North America. We look forward to collaborating with TPG Growth to advance these growth initiatives.”
TPG Growth’s investment in Ideal Image builds on the team’s strategy to invest behind strong brands that create elevated, highly personalized experiences for consumers. Across platforms, select current and past investments by TPG’s consumer team include Anastasia Beverly Hills, Beautycounter, Crunch Fitness, e.l.f. Cosmetics, Life Time Fitness, Mendocino Farms, and SmartSweets.
North Point acted as financial advisor to Ideal Image in relation to this transaction.
About TPG Growth
TPG Growth is the middle market and growth equity investment platform of TPG, the global alternative asset firm. With over $12 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The platform is backed by the resources of TPG, which has more than $91 billion of assets under management. For more information, please visit www.tpg.com or on Twitter @TPG.
About Ideal Image
Ideal Image is North America’s #1 aesthetics’ brand, making personal aesthetics and wellness services more affordable, accessible, and effective than ever before. Ideal Image believes “confidence changes everything,” and its mission is to help people look and feel their best by taking a holistic, personalized approach to health and wellness that works from the inside out.
Ideal Image offers a full suite of FDA cleared medical aesthetic and wellness treatments, all backed by a Lifetime Guarantee Membership. With an industry-leading national telehealth platform, consumers receive free virtual consultations seven days a week from 9am to 9pm and treatments at any of Ideal Image’s rapidly growing point of care network across North America. Ideal Image’s team of 800+ Medical Professionals deliver real life-changing results, having performed over 20 million FDA cleared aesthetic treatments including laser hair removal, body sculpting, Botox® and fillers, medical-grade skincare, and skin rejuvenation services. The company is headquartered in Tampa, Florida.