Mistral Equity Partners, a private equity firm focused on the consumer, retail and consumer media sectors, has invested growth capital in XpresSpa, a 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,” says Andrew Heyer (pictured), 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 travellers 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, travellers 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 travellers. XpresSpa addresses the stress, hassles and idle time spent at the airport, allowing travellers 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," says Marisol Binn, President and Co-Founder of XpresSpa. "travellers seek out XpresSpa when they are at the airport, and would like to find an XpresSpa in every airport."
Moreton Binn says: "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.
