Houlihan Lokey Advises Tucker's Farm

Houlihan Lokey is pleased to announce that Tucker’s Farm (or “the Farm”), a Bermuda-based investment holding vehicle, has sold its minority stake in VIO Med Spa (VIO), the country’s leading medical spa franchisor.

Tucker’s Farm is a value-oriented holding vehicle based in Bermuda. Founded in 1994 as a small goat dairy, the Farm has grown into a family of companies across industries and geographies. Capitalized with a long-term equity base, the Farm seeks to find and compound cash flows through highly active M&A strategies.

Wonder Franchises is a holding company subsidiary of Tucker’s Farm led by CEO Adam Lewin. Founded in 2023 with committed capital from Tucker’s Farm and select institutional partners, Wonder Franchises is dedicated to aggregating emerging franchisors, franchisees, and select multi-site retail assets. Wonder Franchises seeks to be a long-term home for a world-class portfolio of brands and related assets.

In July 2022, Tucker’s Farm and its affiliates made a structured minority investment in VIO to help fund its nationwide expansion, bolster the company’s talent pool, expand training and education, and develop additional corporate-owned locations.

Founded in 2017 in Strongsville, Ohio, VIO is an industry leader in wellness and aesthetics, offering cutting-edge technologies and treatments. Every location provides a first-class experience and adheres to the company motto: delivering safe, easy, and life-changing results.

VIO has established itself as the leading franchisor of pure-play branded med spas in the U.S. with a full-service med spa offering focused on delivering a tailored client experience. Based in Medina, Ohio, the brand was founded on the philosophy that customers deserve transparent, credible, and full-service care for their aesthetics and wellness needs. VIO provides elevated and innovative aesthetic services for both men and women that empower, enhance natural beauty, and inspire confidence. VIO’s services include wrinkle relaxer injectables, dermal fillers, skin rejuvenation, body contouring, spa treatments, and wellness solutions.

Houlihan Lokey served as the financial advisor to Tucker’s Farm.

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