New York, N.Y. (April 25, 2022) – Tamarix Equity Partners L.P. (Tamarix), in partnership with Chartwell Investments Entrepreneur & Founder Capital (Chief Capital), announced today that they have formed Blue Ocean Aesthetics Holdings, LLC (BOAxH) with industry executive NJ Wazaney with a mandate to build a platform providing unique and innovative products and services to the medical aesthetics industry. BOAxH closed its foundational investment in the recapitalization of Rohrer Aesthetics (Rohrer), a leading provider of non-invasive, energy-based aesthetics products to a variety of physician practices and medical spas across the country.
BOAxH was created by a team of life science and aesthetic medical professionals with over 30 years of collective industry experience and led by industry executive NJ Wazaney. BOAxH’s mandate is to build a medical aesthetics industry eco-system to provide complementary and innovative products and services. BOAxH CEO NJ Wazaney stated, “Our goal is to build a disruptive portfolio of proven medical technology companies within the high-growth aesthetics industry. BOAxH has a differentiated value creation program and capital strategy to grow through partnerships, alliances and acquisitions. We are excited to partner with Rohrer Aesthetics and its visionary founder Mark Rohrer, and the Chief Capital and Tamarix team”.
Founded in 2014 and headquartered in Homewood, AL, Rohrer Aesthetics has swiftly expanded its product portfolio to include over 10 medical energy-based devices that provide a wide range of functionality for non-invasive aesthetics procedures with maximum effectiveness and excellent patient outcomes. Rohrer provides a compelling value proposition to its physician and medical spa customers, as it delivers superior clinical performance to patients and ROI to its customers by providing quality, multi-functional platforms at affordable price points. Rohrer founder and President Mark Rohrer commented, “Rohrer has achieved outstanding growth during the last 5 years and has the ability to become a much larger player in the space. We found great alignment with Chief Capital and Tamarix from a growth, leadership and culture perspective, and we are thrilled to partner with their teams, and know that NJ Wazaney has the experience and vision to help us take the Company to the next level as part of the BOAxH eco-system.”
Mark Hauser, Managing Partner at Tamarix, said ”We are proud to partner with NJ Wazaney and Mark Rohrer and their team to build an innovative and quality aesthetics business, capitalizing on the historical success and market leadership of Rohrer Aesthetics.”
Michael Shein, Managing Partner at Chief Capital, added “Rohrer has built an impressive team and a market-leading position with a strong culture of quality and successful patient outcomes. We are incredibly excited to partner with NJ Wazaney, Mark Rohrer and the BOAxH/Rohrer team to support the build out of the BOAxH platform and Rohrer’s continued rapid growth. This investment exemplifies our strategy of partnering with entrepreneurs and founder-owned companies to help accelerate their growth.”
Financing for the transaction was provided by Source Capital, through Source Capital Credit Opportunities IV, LP. “This is our second investment with Chief Capital, realizing a successful exit in the first one, and we are excited about supporting both Chief Capital and Tamarix during BOAxH creation of an aesthetic industry eco-system and Rohrer’s next phase of growth,” said Joe Rodgers, Managing Director at Source Capital.
About Tamarix Equity Partners L.P. (Tamarix)
Tamarix is a private equity firm founded by seasoned professionals with over 30 years of investment experience. Having invested over $1 billion in more than 80 companies, Tamarix assists management teams in growing their business and enhancing value. Tamarix is a trusted partner to families, founders and managers of small businesses, providing capital and strategic expertise to growing lower middle-market businesses. Please visit https://tamarixcapital.com/ for more information.
About Blue Ocean Aesthetics Holdings (BOAxH)
Blue Ocean Aesthetics Holdings (BOAxH) is a platform created by a team with over 30 years of highly experienced life science and aesthetic medical professionals and advisors focusing on unique and innovative products and services in the medical aesthetics space. Our vision is to create a value-added eco-system of complimentary products and services for the medspa and physician markets. For more information, visit https://blueoceanax.com/.
About Rohrer Aesthetics Inc. (Rohrer)
Headquartered in Birmingham, AL, Rohrer Aesthetics (Rohrer) provides non-invasive energy-based device aesthetics products (lasers) to a variety of physician practice types (plastic surgeons, dermatologists, etc.) and medical spas. Rohrer’s products are utilized for a wide range of procedures, delivering unique solutions for a number of physical aesthetic needs, including skin tightening, tattoo removal, fat reduction, and hair removal. Rohrer’s reputation for providing cost effective, high quality, reliable products has positioned the Company for further expansion in the aesthetic market. For more information, visit www.rohreraesthetics.com.
About Chartwell Investments Entrepreneur & Founder Capital (Chief Capital)
Chief Capital provides flexible private equity for entrepreneurs, family-owned businesses, and corporate carveouts. The firm partners with management owners to help realize their visions and provide long-term capital, resources and expertise to accelerate growth and provide generational liquidity. Chief Capital customizes each investment to meet the objectives of its entrepreneur and family partners. With 40+ years of experience, Chief Capital focuses on niche lower middle market companies with an emphasis on healthcare, healthcare services, business services and niche manufacturing segments. Chief Capital successfully exited two of its 2019 vintage platform build-up investments, RQM+ and TTG Imaging Solutions, in H2 2021 and completed the strategic add-on acquisition of General Rubber Corporation for its EFM Equipment Company industrial platform in Q1 2022. Please visit www.chiefcap.com for more information.
About Source Capital, LLC
Source Capital is a private investment firm focused on providing flexible equity and debt capital to lower middle-market companies across a range of industries. Source Capital’s investment strategy targets growing companies with greater than $2 million in EBITDA seeking a growth-oriented partner. Since its founding in 2002, Source Capital has made 23 equity platform investments, 50 add-on acquisitions and 39 debt investments through four separate credit funds. To learn more about Source Capital or to discuss a new equity or debt investment opportunity, please reach out to a member of our investment team.
Link to Press Release