AUSTIN, Texas, Dec. 16, 2021 /PRNewswire/ -- Restore Hyper Wellness® ("Restore"), a preeminent provider of cutting-edge health and wellness solutions, announced a $140 million investment round led by General Atlantic, a leading growth equity firm. General Atlantic joins existing investor, Level 5 Capital Partners, an experienced consumer private equity player, as investors in the wellness brand.
Founded in 2015, Restore has pioneered a whole new category, Hyper Wellness®, which includes an array of expertly delivered health protocols and modalities to promote near and long-term health. Among Restore's most popular services are IV drip therapy, cryotherapy and infrared sauna sessions, all of which serve to maximize longevity. Restore's preventative solutions aim to keep people out of the doctor's office so everyone can do more of what they love, regardless of whether they're managing chronic pain or training as an elite athlete. The company has seen impressive success beyond the gateway cities of New York and Los Angeles, with franchises thriving in traditionally underserved cities Little Rock, AR and Wichita, KS – proving that everyone has an interest in optimizing their health.
"Restore has disrupted the wellness space and is poised to capture a substantial share of what has historically been a high-growth, but undeveloped market," said Danny Kenny, a principal at Level 5. "As consumers take a more proactive approach to managing their health, Restore's innovative model of integrating treatment and prevention stands to become the paragon of personalized health."
Restore Co-Founder and CEO, Jim Donnelly, added, "We believe everyone should have access to proactive health modalities that help them feel their best so they can do more of what they love. We're defining a new healthcare experience that we describe as effective, social and transparent. Our prevention-first model (vs. the traditional sick care model) is still new to many consumers and communities."
As such, Restore will leverage this investment to expand its store footprint, with plans to open over 100 stores next year. The company currently has 115 locations in 34 states, with the goal of being in 46 states by the end of 2022. Level 5's Restore franchisee platform is slated to develop over 50 stores, with 15 of those opening in 2022.
"Along with our large franchisee investment in the Restore system, Level 5 is excited to partner with General Atlantic, a firm with a great track record of investing in category-creating brands," said Level 5 Managing Partner, Chris Kenny. "General Atlantic will serve as a great ally in ensuring Restore's continued success, which furthers Level 5's mission of changing lives locally."
Jim Donnelly added, "The democratization of wellness is long overdue. Better outcomes and options should not be reserved solely for the affluent. We take great pride in making Restore accessible to every walk of life. In return, our avid customers have become great brand ambassadors and are providing the gift of better wellness when they bring their friends and family to Restore."
ABOUT LEVEL 5 CAPITAL PARTNERS
L5 was founded in 2009 by Fortune 100 technology executives to invest in high-end health and wellness brand leaders with a focus on consumer services. L5 approaches the health, wellness, and family services sectors with a unique operational focus. L5 brings a 40-person proprietary operating team alongside its investment capabilities. We focus on investing in early-growth franchisors as well as large scale multi-unit franchisees. L5 is currently building out a large franchisee of Orange Theory Fitness (OTF). L5 serves as the Area Representative (AR) for Michigan, Utah, Missouri and Illinois with 30 owned stores along with established pipelines to open 15+ stores per year for the foreseeable future. The existing greenfield development opportunity will be paired with select additional acquisitions including AR and sub-franchisee targets.
L5 brings expertise and capital to exceptional entrepreneurs. L5 looks to identify opportunities where we can drive rapid growth and scale in local services, with a focus on the health, wellness & family markets. L5 leverages our expertise, capital, and local services platform to scale partner companies and their management teams. Core to our investment thesis is investing in highly targeted real estate and customer-focused management teams to enable them to manage businesses significantly greater than the size of the initially acquired business. Local service businesses require a consistent, local focus on human capital in addition to sound operating practices. The combination of human capital investment and market expansion investment enabled by technology and process deliver excellent value creation over time.
For more information on Level 5, please visit: https://www.lfivecapital.com/
About Restore Hyper Wellness®
Launched in Austin, Texas in 2015, Restore Hyper Wellness is the award-winning creator of an innovative new category of care—Hyper Wellness®. Restore delivers expert guidance and an extensive array of cutting-edge wellness modalities integrated under one roof. These modalities include biomarker assessments, IV drip therapy, intramuscular (IM) shots, mild hyperbaric oxygen therapy, whole body and localized cryotherapy, infrared sauna, red light therapy, compression, assisted stretching, HydraFacial and Cryoskin. Restore's mission is to make Hyper Wellness accessible and affordable so people can do more of what they love to do.
SOURCE Level 5