03 Apr, 2023, 12:53 ET
Leading Franchise Industry Investor Partners with High-Growth Practitioner-Assisted Stretch Therapy Franchisor.
FORT LAUDERDALE, Fla. and PRINCETON, N.J., April 3, 2023 /PRNewswire/ -- Princeton Equity Group, a leading private equity firm exclusively focused on the franchisor and multi-unit industry, announced today the completion of its strategic investment in Stretch Zone, a category creator and leading provider of practitioner-assisted stretch therapy services. Princeton Equity Group's partnership will bring additional resources to support continued expansion of Stretch Zone's national footprint and facilitate additional client growth.
"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, who 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 world-class 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." said Jorden Gold, Founder of Stretch Zone. "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. Stretch Zone 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 upon the tremendous success they have had to date.
"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" said Zaccario. "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 Partners, LLC served as financial advisor to Stretch Zone. Holland & Knight LLP served as Stretch Zone's legal counsel. Akin Gump Strauss Hauer & Feld LLP and DLA Piper LLP served as legal counsel to Princeton Equity Group.
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." The Stretch Zone Method® takes stretching to an entirely new level. Routine professional stretching can have a strong impact on your overall health, quality of life, recovery, and everyday performance. For more information, visit www.stretchzone.com.
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. For more information, visit www.princetonequity.com.
SOURCE Princeton Equity Group
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