Trivest Partners Signs Deal with Massage Envy to Acquire and Build 75 Franchise Locations
Trivest Partners Hires Massage Envy VP to Lead New Holding Company to Acquire Current Multi-Unit Franchises
May 07, 2019 // Franchising.com // CORAL GABLES, Fla. - Trivest Partners and Massage Envy, the leading provider of therapeutic massage and skin care services across its franchise network, are pleased to announce a new multi-unit agreement. Trivest Partners (Trivest) has signed on to own and operate 75 Massage Envy franchises through the purchase of existing franchise locations and the development of new franchise locations.
Leading the charge of opening and acquiring a total of 75 Massage Envy locations is Robert Fish, who has spent two decades in leadership roles at Massage Envy and Kinko's/FedEx Office. Most recently, he served as the Vice President of National Operations at the Massage Envy corporate office, making him exceptionally suited to lead Trivest into Massage Envy ownership.
"Massage Envy is a trailblazing, best in class organization that I've been proud to be a part of, and now I'm grateful for the opportunity from Trivest to dive into the boots-on-the-ground franchisee side of Massage Envy," said Fish. "Heading up Trivest's Massage Envy development will be a seamless transition, and allows me to focus on perfecting and expanding brand-to-consumer touch points. While acquiring existing franchised locations, we're pulling the best systems and processes from each franchise group to build one solid infrastructure to introduce more people across the United States to all that Massage Envy has to offer. I absolutely love the Massage Envy model and believe that our team will be leaders within the brand in regard to experience, service, and culture led by our wonderful front desk associates, service providers, location managers, and leadership team."
Trivest and Fish are partnering with longtime multi-unit franchisees Todd Recknagel and Kristi Mailloux and their company National Envy Development to jumpstart growth. Recknagel says, "Over the years, my wife and I have seen through a number of very successful investments with Trivest. Separate of that, National Envy Development has enjoyed tremendous growth with Massage Envy. Now, putting Massage Envy with Trivest will unleash unlimited growth."
Recknagel and Mailloux will continue to grow Massage Envy with their continued investment in the partnership with Trivest and will serve on the Board and remain Franchisees in the system. Along with National Envy Development's seven locations, Trivest also recently acquired 21 Massage Envy locations around Chicago and Phoenix.
"Partnering with respected groups like Trivest, who understand the franchise industry, is helping Massage Envy meet its goal of accelerating and strengthening our national footprint," said Joe Magnacca, Massage Envy Franchising president and CEO. "While we'll miss Robert's leadership in the corporate office, we know Trivest is in great hands and can't wait to see the franchise growth that's to come."
"Massage Envy has been able to scale their unique product at a rate that no one else has come close to figuring out," said Steve Reynolds, Partner at Trivest. "We were intrigued by the recurring revenue the membership model provides and the excellent management team at the franchisor level. Adding Robert Fish to our team, who brings with him unparalleled experience and passion for the brand, ensures the partnership between Massage Envy and Trivest will be a major success."
The holding company will work toward adding nearly 50 additional units to the portfolio by focusing on growing in Arizona, D.C., Illinois, Indiana, Kentucky, Maryland, Michigan, Ohio, Virginia, West Virginia and Wisconsin.
About Massage Envy
Massage Envy, based in Scottsdale, Arizona, is a national franchisor and, through its franchise locations, is the leading provider of therapeutic massage and skincare services. The Massage Envy franchise system is, collectively, the largest employer of massage therapists and estheticians, with more than 35,000 dedicated wellness professionals that provide best-in-class service to over 1.65 million members. Founded in 2002, Massage Envy has more than 1,150 franchise locations in 49 states that have together delivered more than 100 million massages and facials.
SOURCE Massage Envy
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