Medical beauty service provider SkinSpirit has a minority investment from private equity firm KKR.

WHO: SkinSpirit was founded in 2003, providing medical beauty services in a spa-like setting that span injectable neuromodulators and dermal fillers, as well as a variety of microneedling techniques, lasers, and body treatments. The company has 31 skincare clinics nationwide.

WHY: The investment will help the company further reinforce its position as a trusted brand in the medical spa category, provide additional resources to support its people-first culture, and fuel expansion of new locations.

IN THEIR OWN WORDS: "A shared growth mindset is at the heart of our Company," said CEO and co-founder Lynn Heublein, "With KKR's strong support, SkinSpirit will continue to grow with an eye toward offering best-in-class services to our clients across the country and providing our renowned teams with advanced learning and development, industry-wide leadership opportunities, and continuous improvement through unique initiatives such as our employee advisory boards."

"We see long-term opportunities for growth in medical aesthetics, a category that we have tracked closely for several years," said Ali Satvat, Partner at KKR and Global Head of KKR Health Care Strategic Growth. "Lynn and her team have built a differentiated platform that has earned the respect of providers and clients across the country."

"SkinSpirit is positioned to continue growing in this fragmented market," added Johnny Kim, Director at KKR. "We look forward to collaborating closely with Lynn and her talented team as they continue to scale the Company and its various offerings."

David Ferguson, co-founder of GreyLion said, "SkinSpirit's leadership team have done a remarkable job driving the Company forward, creating a leading national brand in the aesthetics industry. We believe that the Company is uniquely positioned to capitalize on the strong and growing consumer preferences addressed by SkinSpirit's product and service offerings. We are excited to welcome KKR as a strategic partner and look forward to working together with them and management as they execute their strategic growth plans."

DETAILS:

• KKR has taken a minority stake in SkinSpirit. The terms of the deal were not disclosed. 
• KKR is investing in SkinSpirit through its Health Care Strategic Growth Fund II, a fund dedicated to investing in high-growth healthcare-related companies to which KKR can be a unique strategic partner in helping reach scale.
• CEO and co-founder Lynn Heublein will continue to lead the  business. 
• SkinSpirit is a leading provider of Botox Cosmetic and dermal fillers in the US. 
• SkinSpirit has tripled the number of clinics it operates since 2018 and has more than doubled that number since 2020. The business recently added clinics in Dallas, Denver, New York City's Upper East Side, and Washington DC's Georgetown neighborhood, with plans to open more new locations in 2023.
• In 2018, GreyLion invested in the business and remains a minority owner.