Rebrands Company as Grand Fitness Partners
Palo Alto, California, November 18, 2021 (PRNewswire) – HGGC, the leading mid-market private equity firm, announced today that it has completed most of its investment in PF Atlantic Holdings, the top-15 franchisee in the Planet Fitness Health Club system. Along with the investment, PF Atlantic Holdings is changing its name as Grand Fitness Partners. CEO of Co-Founders David Bedwell And COO Scott Linsky He will continue to run the business and, along with current investor monogram capital, will play a significant role in the business. Private transaction details not specified.
Grand Fitness Partners, Headquarters Toms River, New JerseyFounded in 2010, it is one of the fastest growing franchises in the planet fitness system. Today, the company owns and operates 42 Planet Fitness Clubs. Florida, California, New Jersey, And Pennsylvania.
“We are thrilled to partner with David and Scott, two of the largest operators and Monogram Capital, to accelerate the remarkable growth of Grand Fitness Partners over the past decade,” he said. Stephen Lestner, Partner with HGGC. “Grand Fitness Partners has already surpassed membership and revenue figures before Covid, which represents the team’s strong leadership and strength during a probationary period in the fitness field. By building a leading platform in the planet fitness system.
Lestner, HGGC Principal Phil Sampognaro, And co-founder and co-founder of HGGC Steve Young All Grand Fitness Partners are members of the Board of Directors.
“Scott and I are thrilled to have HGGC as our new financial partner, as we continue to implement our successful strategy,” Bidwell said. “Our aspirations are high and HGGC’s resources, networks and knowledge ensure that we can use the wind of the market and have a great opportunity to expand organic growth and expand our footprint.”
Jared SteinA co-founder and partner of Monogram Capital Partners, they will remain on the board for Monogram Investment. Stein added, “This partnership is a great opportunity to continue the impressive growth we have started with the Grand Fitness Team over the past four years and to attract HGGC, which is a great partner to further improve our expansion into the next phase. We felt that our long-term relationship with HGGC could undoubtedly bring additional capital to the business in order to grow our unit and serve more members, as well as to achieve our unparalleled, unparalleled fitness mission. People. “
Carlil Global Credit Unit and Goldman Sachs Property Management provided financial support for the transaction.
HGGC is a leading mid-market private equity firm. $ 5.6 billion Total capital commitment. Based on Palo Alto, California, HGGC is distinguished by its advanced investment strategy that allows the company to acquire and expand expanding businesses in partnership with HGGC’s re-investing management teams, founders and sponsors. A.D. Since its inception in 2007, HGGGC has completed more than 300 platform investments, additional purchases, acquisitions and liquid events in excess of its total transaction value. $ 41 billion. More information, including a list of current and past portfolio companies, is available at hggc.com.
About Grand Fitness Partners
Founded by David Bedwell And Scott Linsky A.D. In 2010, Grand Fitness Partners (formerly PF Atlantic Holdings) is one of the fastest growing franchises on the planet fitness system, with the right to continue to develop space by operating 42 Planet Fitness Clubs. South Florida, Central California, And parts New Jersey.
About Monogram Capital
In the headquarters Los Angeles, California, And founded in 2014, Monogram Capital Partners has estimates $ 600 million It focuses only on managed equity capital and investing in emerging consumer and retail businesses. The company wants to work with founders and strong management teams, typically investing $ 5 million to $ 50 million in a single transaction, including support brands Chewy.com, Oatly, Foxtrot, Olipop, Genexa, Country Archer, Vive Organic and many more. To learn more about monograms, please visit www.monogramcapital.com.
About Planet Fitness
Founded in 1992 Dover, NH, Planet Fitness In-Fitness Centers is one of the largest and fastest growing franchises and operators. America By number of members and places. as such September 30, 2021, Planet Fitness has more than 15.0 million members and 2,193 stores in 50 states. District of Columbia, Puerto Rico, Kannada, Panama, Mexico And Australia. The company’s mission is to improve people’s lives by providing high quality fitness experience in a hospitable and non-threatening environment. More than 95% of Planet Fitness stores are owned and operated by independent business men and women.
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