Buyout shop Mistral Equity Partners has invested an undisclosed amount of “growth capital” into XpresSpa, an airport retailer of spa services and spa and travel related products. Terms were not released. XpresSpa has 38 locations in the U.S. and the Netherlands.
Mistral Equity Partners, a private equity firm focused on the consumer, retail and consumer media sectors, announced today that it has invested growth capital in XpresSpa, the leading airport retailer of spa services and spa and travel related products, with thirty-eight locations in the United States and the Netherlands.
“This concept pioneered and defined the airport spa segment,” said Andrew Heyer, Managing Partner of Mistral Equity Partners. “XpresSpa has enormous untapped growth potential and a differentiated concept that has become a cornerstone of airport retail offerings, playing a crucial role in delivering health and wellness services to travelers in over 19 airports. Through domestic and international expansion, we are confident that XpresSpa will continue to grow its position as the leading airport spa concession in the world.”
The Company’s CEO, Moreton Binn, and President, Marisol Binn, developed XpresSpa ten years ago to address the changes that have taken place in the airport environment since 9/11. As a result of increased security requirements, travelers are spending more time at the airport before their flights, often dealing with stressful security lines, delays from congested airports, and inclement weather conditions. XpresSpa has made downtime into productive time for travelers. XpresSpa addresses the stress, hassles and idle time spent at the airport, allowing travelers to relax and focus on personal care, grooming, and wellness.
“XpresSpa’s growth opportunities are tremendous, and Mistral’s investment will allow us to execute on those opportunities quickly,” said Marisol Binn, President and Co-Founder of XpresSpa. “Travelers seek out XpresSpa when they are at the airport, and would like to find an XpresSpa in every airport.”
Moreton Binn commented, “Beyond spa services, we’re thinking out of the box. We invented the airport spa specialty retail concession and now we’ve launched our own line of branded consumer products. People love the quality and uniqueness of XpresSpa products so much that they look for products with the XpresSpa brand. We have also developed a ‘Service at the Gate’ concept, where we have rolling carts going to the gate areas to provide manicures and massages anywhere in the airport. XpresSpa is poised to grow within the airports and beyond.”
XpresSpa operates the largest global network of premium airport spas, providing a full array of spa services, including massages, reflexology, stress and tension release, manicures, pedicures, facials and waxing. XpresSpa also has a branded line of exclusive spa, personal care and travel products available in their spas and online.
About Mistral Equity Partners
Mistral Equity Partners is a private equity firm comprised of highly experienced investment professionals and seasoned industry executives. The firm specializes in the consumer, retail, and consumer focused media sectors, and is especially attracted to businesses that are supported by strong demographic trends and fundamental changes in consumer preferences. Mistral’s principals have a long history of working together and identifying successful investment opportunities with these characteristics.
XpresSpa has become the premiere destination for business and leisure travelers. While waiting for flights, global travelers shed stress and fatigue by treating themselves to one of the many available relaxing XpresSpa treatments. In addition, XpresSpa has created an elegant and unique line of exclusive spa products and accessories which are available for purchase in the XpresSpa Shop at any of our first-class luxury spas or online.