Tucker’s Farm Corporation, the Bermudian-based investment holding vehicle, has closed a Series A funding round for its medical aesthetics holding company with a leading growth equity investor that has valued the subsidiary at more than $100 million.

In May 2022, the company said, Tucker’s Farm Corporation incubated a medical aesthetics holding vehicle with approximately $30 million of equity capital.

In two years, the vehicle has grown to approximately $40 million of revenue across ten of the leading medical aesthetics brands in the United States.

Tucker’s said the Series A funds would be used to grow the portfolio, bolster the company’s talent pool, expand training and education, and develop additional clinics.

Regarding the growth equity partnership, Jack Harvey, a member of the private equity team at Tucker’s Farm Corporation, said: “Our team first came across aesthetics a few years ago and loved the set-up.

“The category had many parallels to animal health: cash pay, retail-healthcare-ish, underpinned by a freight train of secular demand. And everyone, or almost everyone, won in pet.

“So we made a few bets, including our aesthetics permanent capital vehicle, and, separately, VIO Med Spa, the leading franchiser in the space. Today is a big win for the team leading the permanent capital vehicle.”

Last month, the company sold its minority stake in VIO Med Spa.

The company said the medical aesthetics industry had grown significantly in recent years, driven by increasing consumer acceptance of non-invasive aesthetic procedures, technological advancements, and a growing emphasis on personal appearance and wellness.

Offering a wide range of services, such as Botox, laser hair removal, chemical peels, and dermal fillers, medical aesthetics clinics cater to clients seeking cosmetic enhancements without the downtime associated with surgery. The industry thrives on personalised care, combining luxury and clinical expertise to deliver results-focused treatments in a relaxing, spa-like environment.

Piper Sandler served as financial adviser and Dykema acted as legal counsel to Tucker’s Farm Corporation, which is a value-oriented holding vehicle modelled after Berkshire Hathaway.

Founded in 1994 as a small goat dairy, it has grown into a family of companies across industries and geographies. Capitalised with a long-term equity base, Tucker’s Farm seeks to find and compound cash flows through highly active M&A strategies.