Highmount Madison co-managers Dan Amin, far left, and James Kapnick, far right, struck a deal to acquire 4Ever Young Anti-Aging Solutions from the brand’s founders Carlton Washington, second from left, and Deniz Duygulu.
Highmount Madison co-founders Dan Amin and James Kapnick were so excited to acquire 4Ever Young Anti-Aging Solutions that they’ve made themselves co-CEOs of the brand.
“We’re not just going to be investors in 4Ever Young Solutions, and buying shares in it, we’re going to be full-time operators as we build the people processes of the business and its technology,” said Amin about acquiring the brand’s 33 locations along with its three corporate stores. “We are totally focused on this business for now.”
Highmount Madison, a Boston-based private capital firm that invests and partners with founder- and family-owned businesses, had its eye on 4Ever Young for the better part of the past year. Highmount formed in 2022. What impressed Amin and Kapnick about the brand—which Carlton Washington and Deniz Duygulu launched in 2014 and franchised in 2019—was its unique niche within the fast-growing beauty and wellness sectors.
As Amin and Kapnick point out, 4Ever Young was an early provider of hormone replacement therapy and anti-aging treatments—what the brand calls “feel your best” preventive services—out of its flagship corporate location in Boca Raton, Florida. It also offers a full range of what it refers to as “look your best” aesthetic services.
Dan Amin, co-founder of Highmount Madison
“They have brought together both the aesthetic side as well the wellness side of services and care under one roof, which is very unique,” Amin said. “There are a lot of mom-and pop-operators out there that are the med spa space, but they offer just Botox and fillers. And then you have a separate group of folks that’s much more emerging in terms on the wellness side.
“4Ever Young does it all, and it does it really well,” Amin said.
Financial terms of the deal to acquire 4Ever Young, which Boxwood Partners facilitated in November, were not disclosed. Highmount Madison’s two managers and now co-CEOs of 4Ever Young said that Washington and Duygulu will remain with the franchise, serving as 4Ever Young executives and shareholders.
“Highmount Madison’s resources and expertise will enable us to further focus on helping our franchisees succeed while expanding our presence to be able to bring our service offerings to more patients,” Duygulu said in a statement.
4Every Young’s locations are mainly clustered in Florida and Texas now with Georgia, Arizona and New Jersey and Highmount is targeting other states for growth in the coming years.
James Kapnick, co-founder of Highmount Madison
“We just opened in Omaha and are about to open in Chicago. We are hoping to be at 38 locations open by end of the year,” Kapnick said. The company’s website reports new locations coming to Iowa, Louisiana, Missouri, Oregon and the Carolinas.
“Our goal is to get to 50 locations in 2024 and we see plenty of runway to do that,” Amin said.
Amin said the health and wellness markets are prime for sustainable franchise growth.
“It’s really a largely fragmented market of single to maybe two or three-unit operators in this market with roughly 8,900 med spas in the U.S. now that basically ignores wellness altogether,” he said. “We think that 80 to 90 percent of those are what we would call mom-and-pop operators, and it’s highly unlikely those operators are ever going to get to the scale that a franchise system like ours could offer.”
4Ever Young’s founders and executive team impressed Highmount, along with its franchise disclosure document, specifically its impressive Item 19 figures. In its 2024 FDD, 4Ever Young’s six franchised locations averaged $982,003 in gross revenue, ranging from $342,749 to $1.7 million. The initial investment required to open a 4Ever Young franchise ranges from $354,500 to $724,500.
“You’re looking at gross revenue of around $3 million at the performing top corporate store in Boca and all stores across the board growing at double digits over the course of the year,” Amin said. “That right there tells you its potential and why we are so excited by it.”
4Ever Young was an early provider of hormone replacement therapy and anti-aging treatments—what the brand calls “feel your best” preventive services—out of its flagship corporate location in Boca Raton, Florida.