Breakwater Management Provides Follow-On Investment into Exhale Enterprises

Growth capital fund backs leading operator of award-winning mind body spas to support the continued expansion of the company’s premium brand.

LOS ANGELES, February 2014 – Breakwater Management, LP (“Breakwater”) is pleased to announce that it has completed a follow-on growth capital investment into existing portfolio company Exhale Enterprises, Inc. (“exhale”), out of its Breakwater Structured Growth Opportunities Fund. Based in Los Angeles, Breakwater is a private investment firm that specializes in direct investments in leading middle market growth companies, especially businesses with expanding global operations.

“We are very excited to continue working in partnership with the professionals at Breakwater,” said Annbeth Eschbach, President and CEO at exhale. “The past year has been another period of strong growth for the exhale brand. The additional investment from Breakwater will provide exhale with the capital needed to support its ongoing expansion.”

“We are delighted that our capital will help fuel the ongoing growth plans of this leading operator of best-in-class, award-winning mind body spas,” said Saif Mansour, Founding Partner at Breakwater. “Breakwater first provided growth capital financing to exhale in December 2012. The company is currently at a very exciting stage of expansion, with plans to grow its premium brand through the development of additional high-end urban spas and exhale-branded amenities nationwide.”


Founded in 2002, exhale has earned a position as the leading lifestyle brand in the spa and wellbeing sector through award-winning mind body fitness classes, and best-in-class spa and healing therapies. Exhale’s complete menu of spa therapies and services allows guests to revive and restore in inspiring yet relaxing sanctuaries. Offering everything from facials to massages, waxing to healing, exhale perfectly leverages ancient and new spa practices alike. Bridal boot camps, wellbeing retreats, and nutrition programming round out the wellbeing experience at exhale. Exhale is proud to offer 21 properties in 11 top markets.


Breakwater Management is a private investment firm that specializes in direct investments in lower middle market growth businesses. The firm serves as General Partner of Breakwater Credit Opportunities Fund, LP, a $250 million open-ended private investment partnership organized in August 2008 under Delaware law. The Fund’s investment objective is to generate both current income and capital appreciation through secured debt investments accompanied with equity participation rights, primarily in growth-oriented companies across a variety of industries.

To learn more about Breakwater, visit or call (424) 777-4000.

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