Massage Envy getting a new ownerSeptember 17, 2012: 12:36 PM ET
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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