Funds managed by New York City-based private equity firm Vesey Street Capital Partners LLC, which targets middle-market buyouts in the healthcare services sector, recapitalized Elite Body Sculpture Inc.
The equity for the transaction, the terms of which were not disclosed, was contributed by Vesey Street and its affiliates. The transaction also included a rollover from Elite Body founder and CEO Aaron Rollins.
Elite Body is a physician services group that provides minimally invasive body sculpting procedures. It is behind the AirSculpt technology used for fat removal and transfer services.
THL Credit and Morgan Stanley Credit Partners provided debt financing for the transaction. Lowenstein Sandler was legal counsel to Vesey Street, while BMO was financial adviser to Elite Body.