VIO Med Spaa chain of all-inclusive spas headquartered in Strongsville, plans to accelerate its expansion plan after receiving what the company called a “significant minority investment in private equity” from Tucker’s Farm Corp.

“The substantial capital injection will create a strategic growth partnership between VIO Med Spa and Tucker’s Farm to drive national expansion, invest in human infrastructure, expand training and education, explore emerging business and technology platforms and to pursue the development of other business-owners,” the company said in a press release on Tuesday, July 19.

Specific terms of the investment, however, were not disclosed. VIO Med Spa officials did not immediately respond Tuesday morning to an email interview request.

VIO Med Spa, founded in 2017 by Joe and Nick Stanoszek, has 13 locations in six states. It said in the statement that it plans to open 40 more locations by the end of 2023.

“VIO aims to grow more company-owned stores and stay ahead of the competition, and this capital injection is critical to our future plans,” Joe Stanoszek said in the release.

With Tucker’s Farm’s equity investment, the company’s Head of Capital Allocation, Kyle Tucker, will join VIO Med Spa’s Board of Directors. His involvement “will strengthen executive leadership, with day-to-day operations remaining the same,” VIO Med Spa said in the statement.

VI Med Spa CEO Ryan Rose said in a statement, “As our leadership team explored the many growth partners interested in VIO, we felt that Tucker’s Farm best aligned with our core values ​​and mission. to become the nation’s leading aesthetic brand. They share our ideals of being a franchisee-driven organization and decision-making based on long-term bottom line results.”

Tucker’s Farm is “a low-key holding company that makes long-term, value-oriented investments with a permanent capital base,” according to the statement. It “has a very flexible approach and invests across sectors, geographies and capital structure, with the sole mandate of finding and compounding the highest risk-adjusted cash flows over the long term,” the statement said. .

True to its name, Bermuda-based Tucker’s Farm also operates a goat farm and artisan cheese factory.

Kyle Tucker said in the statement that VIO Med Space is “uniquely positioned to deliver excellent patient outcomes across the country and we are thrilled they have chosen Tucker’s Farm as their partner for their next chapter of growth.”

Tucker did not immediately respond to an email Tuesday morning.