Term Sheet

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Massage Envy getting a new owner

September 17, 2012: 12:36 PM ET

Spa chain plans to switch sponsors.

FORTUNE -- Private equity firm Roark Capital Partners has agreed to purchase massage and spa chain Massage Envy from Sentinel Capital Partners, according to an FTC notice. No financial terms were disclosed.

Scottsdale, Ariz.- based Massage Envy has nearly 800 locations throughout the U.S., and earlier this year told franchisees that Sentinel was looking for a buyer. According to an independent association of Massage Envy franchisees, average location revenue rose from around $815,000 in 2009 to nearly $1.25 million in 2011.

Sentinel acquired Massage Envy in late 2009 for an undisclosed amount from Natural Wellness USA.

Neither Roark nor Sentinel agreed to comment for this story.

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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