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Who Really Owns Elite Body Sculpture?
In the dynamic world of cosmetic surgery, understanding a company's ownership is key to grasping its future. Elite Body Sculpture, a leader in Elite Body Sculpture SWOT Analysis, has undergone a fascinating transformation, evolving from its founder's vision to a publicly traded entity. This journey, marked by strategic investments and market shifts, offers a compelling case study for investors and industry watchers alike.
From its origins as a founder-led venture specializing in a liposuction alternative, Elite Body Sculpture's Elite Body Sculpture ownership structure has significantly impacted its growth trajectory. The company's focus on non-invasive fat removal, particularly its proprietary AirSculpt method, has positioned it for success in the competitive cosmetic surgery market. Exploring the evolution of Elite Body Sculpture, from private equity backing to its current public status, reveals valuable insights into its strategic direction and potential for future growth, offering a unique look at its body contouring procedures.
Who Founded Elite Body Sculpture?
The origins of Elite Body Sculpture trace back to 2012, when Dr. Aaron Rollins, a cosmetic surgeon, established the company. Dr. Rollins' vision centered on providing advanced body contouring solutions, notably through the proprietary AirSculpt procedure. This minimally invasive technique quickly became a cornerstone of the company's identity.
Dr. Rollins initially served as the Chief Executive Officer, steering the company from its inception. He transitioned to the role of Executive Chairman of the Board of Directors in January 2023. This shift highlights a strategic evolution in leadership, while still keeping Dr. Rollins involved in the company's direction.
The company's early structure and strategic focus were significantly influenced by Dr. Rollins' goal to bring 'celebrity' quality results to a wider audience. This approach, emphasizing minimally invasive fat removal, differentiated Elite Body Sculpture in the cosmetic surgery market.
Vesey Street Capital Partners (VSCP)
VSCP, a New York-based private equity firm, completed a recapitalization of Elite Body Sculpture in January 2019.
Dr. Rollins' Role
Dr. Rollins maintained a stake in the company through a rollover investment, indicating his continued involvement.
Equity Infusion
The recapitalization brought in significant private equity capital, fueling the company's growth.
Early Investors
Other early investors included Burch Creative Capital (exited) and Hauser Private Equity.
Ownership Details
Specific details about the initial equity split or early investor stakes are not publicly available.
Strategic Shift
The recapitalization marked a strategic shift, with private equity playing a larger role in the company's future.
The investment from VSCP in 2019 was a pivotal moment, signaling a shift in the company's ownership and financial strategy. While the exact financial details of the transaction remain private, the involvement of VSCP, alongside Dr. Rollins' continued investment, set the stage for further expansion and development of the Growth Strategy of Elite Body Sculpture. The infusion of capital from private equity firms typically supports scaling operations, expanding service offerings, and potentially increasing market share in the competitive cosmetic surgery market. As of late 2024, the body contouring market continues to grow, with increasing demand for non-invasive fat removal procedures like AirSculpt, reflecting trends in consumer preferences for less invasive cosmetic treatments.
Key Takeaways
Elite Body Sculpture's ownership has evolved from its founder, Dr. Aaron Rollins, to include private equity firms like Vesey Street Capital Partners.
- Dr. Rollins founded Elite Body Sculpture in 2012.
- VSCP's investment in 2019 brought in significant capital.
- The AirSculpt procedure is central to the company's offerings.
- The company has expanded its locations and services.
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How Has Elite Body Sculpture’s Ownership Changed Over Time?
The ownership structure of Elite Body Sculpture, now known as AirSculpt Technologies, has evolved significantly. Initially a private company, the pivotal shift occurred in January 2019 when Vesey Street Capital Partners (VSCP) provided a capital infusion. This investment was a key step in enhancing operations and facilitating corporate development. The move set the stage for the company's transition to a publicly traded entity.
AirSculpt Technologies' journey to becoming a public company has reshaped its ownership landscape. As of March 13, 2025, a substantial portion, approximately 77.0%, of the outstanding common stock is held by investment funds affiliated with the 'Sponsor' (likely VSCP) and members of management and employees. The founder, Dr. Aaron Rollins, held 14,669,675 shares with sole voting and dispositive power as of December 31, 2024, according to SEC filings. The company's market capitalization stood at $328 million as of June 12, 2025, with 58.8 million shares outstanding. This transition has opened up opportunities for broader investor participation while maintaining significant influence from the initial private equity backer and the founder.
| Key Event | Date | Impact on Ownership |
|---|---|---|
| Vesey Street Capital Partners Investment | January 2019 | Recapitalization; enhanced operations. |
| Initial Public Offering | Ongoing | Broadened investor base; founder and Sponsor retain significant control. |
| Public Offering (June 2025) | June 2025 | VSCP expressed interest in purchasing up to approximately $4,000,000 in shares. |
The transformation of Elite Body Sculpture's ownership reflects a strategic shift from a privately held business to a publicly traded company. This move has allowed for increased capital and a wider investor base, while key stakeholders, including the founder and the initial private equity firm, continue to hold considerable influence. For more insights into the company's growth, consider reading about the Growth Strategy of Elite Body Sculpture.
Ownership Evolution
Elite Body Sculpture's ownership has transformed from private to public. This shift involved a private equity investment and subsequent public offerings.
- Vesey Street Capital Partners' investment in January 2019.
- Public offering opened up investment opportunities.
- Founder and key stakeholders retain significant influence.
- Market capitalization of $328 million as of June 12, 2025.
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Who Sits on Elite Body Sculpture’s Board?
As of March 28, 2025, the Board of Directors of AirSculpt Technologies, Inc., which operates as Elite Body Sculpture, comprises eight directors. These directors are organized into three classes, each with staggered terms. Dr. Aaron Rollins, the founder, holds the position of Executive Chairman of the Board. The board's composition includes key figures such as Yogi Jashnani, who became CEO and a Director in January 2025, and Adam Feinstein, the Lead Independent Director and a Managing Partner at Vesey Street Capital Partners. Other board members include Daniel Sollof, Caroline Chu, Thomas Aaron, and Kenneth Higgins. Daniel Sollof and Adam Feinstein previously served on the board of managers of Elite Body Sculpture, representing Vesey Street Capital Partners' interests from October 2018 until the company's IPO.
The board's structure reflects a blend of operational leadership and financial oversight, with representation from both the founder and a major private equity firm, Vesey Street Capital Partners. This arrangement suggests a governance model where key stakeholders have considerable influence over the company's strategic decisions. Understanding the board's composition is crucial for anyone looking into the Target Market of Elite Body Sculpture, as it provides insights into the company's direction and priorities.
| Board Member | Title | Affiliation |
|---|---|---|
| Dr. Aaron Rollins | Executive Chairman | Founder |
| Yogi Jashnani | CEO and Director | |
| Adam Feinstein | Lead Independent Director | Vesey Street Capital Partners |
| Daniel Sollof | Director | Vesey Street Capital Partners |
| Caroline Chu | Director | |
| Thomas Aaron | Director | |
| Kenneth Higgins | Director |
Regarding voting power, each share of common stock carries one vote, and there is no cumulative voting. As of March 13, 2025, investment funds affiliated with Vesey Street Capital Partners, along with management and employees, held approximately 77.0% of the outstanding common stock. This significant ownership concentration indicates substantial voting control by Vesey Street Capital Partners and the management team. For instance, as of December 31, 2024, Dr. Aaron Rollins held sole voting power for 14,669,675 shares.
Elite Body Sculpture's Governance
The Board of Directors at Elite Body Sculpture is structured with a mix of operational and financial expertise.
- The founder, Dr. Aaron Rollins, serves as the Executive Chairman.
- Vesey Street Capital Partners holds a significant portion of the voting power.
- The board includes representatives from both management and the primary investment firm.
- This structure influences strategic decisions and company direction.
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What Recent Changes Have Shaped Elite Body Sculpture’s Ownership Landscape?
Over the past few years, AirSculpt Technologies, Inc., formerly known as Elite Body Sculpture, has seen significant changes in its ownership structure and leadership. As of March 13, 2025, investment funds associated with Vesey Street Capital Partners, along with members of management and employees, held about 77.0% of the company's outstanding common stock. This demonstrates a continued commitment from the primary investment group.
In June 2025, the company announced a public offering of 3,160,000 shares of common stock. Vesey Street Capital Partners showed interest in purchasing up to $4,000,000 in shares, indicating their ongoing investment. These moves reflect the evolution of ownership as the company navigates the market.
| Metric | Year Ended December 31, 2024 | Year Ended December 31, 2023 |
|---|---|---|
| Revenue | $180.4 million | $196.0 million |
| Revenue Decline | approximately 7.9% | N/A |
| Centers | 32 | N/A |
| Locations | 20 U.S. states, Canada, and the United Kingdom | N/A |
Leadership changes have also occurred. Dr. Aaron Rollins moved from CEO to Executive Chairman of the Board in January 2023, and Todd Magazine was appointed CEO. However, Todd Magazine stepped down in August 2024, with Dennis Dean becoming interim CEO. Yogi Jashnani was appointed as the new CEO in January 2025. These shifts, combined with the financial performance, may influence future ownership strategies for this provider of body contouring services.
Revenue Trends
The company's revenue for 2024 was $180.4 million, a decrease of about 7.9% compared to 2023. For the three months ending March 31, 2025, revenue was roughly $39.4 million, about 17% less than the same period in 2024. These trends could affect future investment and strategic decisions.
Market Presence
As of May 2, 2025, AirSculpt Technologies operated 32 centers across 20 U.S. states, Canada, and the United Kingdom. This expansion indicates ongoing efforts to increase market share and accessibility for its procedures, which is a liposuction alternative.
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