VIO Med Spa Announces Majority Investment from Freeman Spogli

MEDINA, OH (Sept. 16, 2024) - VIO Med Spa ("VIO" or the "Company"), a leading franchisor of full-service med spas, today announced that it has partnered with Freeman Spogli, a strategic growth investor in the consumer services and franchising industries. VIO's senior management team, led by Chief Executive Officer Ryan Rose, Chief Development Officer Ryan Rao and Chief Operating Officer and General Counsel Christina McCrossin, will continue to lead the Company in its next phase of growth. VIO founders, Joe and Nick Stanoszek, and co-founder Dr. Harish Kakarala will remain significant minority investors alongside Freeman Spogli and senior management. Specific terms of the transaction were not disclosed.

Founded in 2017 in Strongsville, OH, VIO has 47 locations across 16 states. The Company offers a full suite of medical aesthetic services including injectables, skin rejuvenation, facial spa treatments and wellness services. The Company launched its franchising strategy in 2018 and quickly scaled to become one of the largest single-brand, pure-play med spa chains nationwide. In addition to its franchised locations, VIO operates three corporate owned VIO locations in Ohio.

Including additional near-term openings, the Company expects to have over 50 VIO locations by the end of the year and has a robust pipeline of signed franchisee locations expected to open in 2025 and beyond.

"We founded VIO with the vision of building the leading med spa in the US. Thanks to the relentless efforts of our team and dedicated franchisees, we are proud to partner with Freeman Spogli to take the business to new heights and build on our track record of growth and excellence in operations," said Joe Stanoszek, Founder VIO Med Spa.

"Today marks a special day for the VIO family. This investment represents not just a vote of confidence in VIO, but also an opportunity to amplify our mission. We're looking forward to working alongside Freeman Spogli to expand the VIO footprint and bring our unique service offerings to more communities nationwide," said Nick Stanoszek, Founder VIO Med Spa.

"We are delighted to partner with Freeman Spogli, whose extensive experience in building franchise brands and scaling multi-unit businesses will support our growth as we expand nationwide," said Ryan Rose, CEO of VIO Med Spa. "We remain committed to our franchisee partners and spa customers, who will continue to benefit from our enhanced support functions. Further investments in the corporate team and infrastructure will help position VIO for long term success in the med spa category as a best-in-class franchisor."

"Consumers are increasingly seeking medical aesthetic services as part of their regular beauty and wellness regimen, contributing to impressive industry growth and resilience," said Ben Geiger, a Partner at Freeman Spogli. "VIO's business model is unique, and the Company is well positioned at the intersection of consumer services, franchising and consumer health and wellness - all areas in which Freeman Spogli has significant experience. We look forward to leveraging our capabilities to bring additional support and resources to the VIO franchise system."

"The VIO team's passion for the medical aesthetics sector combined with their dedication to building a top-tier franchise platform has reinforced a strong brand identity that resonates with customers, providers and high-performing franchisees," added John Hwang, a Partner at Freeman Spogli. "We believe VIO is a thought leader in the pure-play med spa space, and we are thrilled to collaborate with the management team on their innovation strategies in this rapidly evolving category."

Raymond James Financial, Inc. acted as exclusive financial advisor to VIO Med Spa. Sidley Austin LLP provided legal counsel to the Company and Morgan Lewis & Bockius LLP provided legal counsel to Freeman Spogli.

About VIO Med Spa
Launched in 2017, VIO Med Spa has established itself as the leading franchisor of pure-play branded med spas in the U.S. with a full-service med spa offering focused on delivering a tailored client experience. Based in Medina, Ohio, the brand was founded on the philosophy that customers deserve transparent, credible and full-service care for their aesthetics and wellness needs. VIO provides elevated and innovative aesthetic services for both men and women that empower, enhance natural beauty, and inspire confidence. VIO's services include wrinkle relaxer injectables, dermal fillers, skin rejuvenation, body contouring, spa treatments and wellness solutions.

As VIO Med Spa continues to open new spas and expand its national footprint, the brand still has territories available. To learn more about VIO Med Spa visit www.viomedspa.com.

About Freeman Spogli
Freeman Spogli is a private equity firm dedicated exclusively to investing in and partnering with management in consumer and distribution companies in the United States. Since its founding in 1983, Freeman Spogli has invested $5.8 billion in 71 portfolio companies with an aggregate transaction value of $29 billion. Freeman Spogli has offices in Los Angeles and New York. For additional information, visit www.freemanspogli.com.

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