These groups of clubs are growing rapidly, performing well and will integrate seamlessly with our existing platform, strengthening our ability to share best practices and leverage scale across all of our clubs.
AUSTIN, Texas (PRWEB)
October 23, 2017
United PF Partners (United PF), the largest franchisee of Planet Fitness (NYSE: PLNT), made two complementary acquisitions of Planet Fitness franchisees in the Phoenix and New Orleans markets, increasing the number of its operating clubs from 11 to 78 in 10 states. . In November 2016, JLM Financial Partners (JLM) and Eagle Merchant Partners (Eagle) created United PF with 59 operational clubs.
Founded in 1992 in Dover, New Hampshire, Planet Fitness, home to the Judgment Free ZoneÂ®, is one of the largest and fastest growing fitness club franchisors and operators with more than 1 400 clubs and over 10 million members. Planet Fitness targets approximately 80-85% of the U.S. non-gym population by providing a high-quality, high-value fitness experience in a non-intimidating environment.
In addition to recapitalizing ownership of the Phoenix and New Orleans club groups, United PF’s investments will provide capital to fuel club-level improvements and organic growth through the development of new clubs in these markets. The capitalization and scale of United PF will continue to provide the opportunity for rapid organic growth and growth through acquisition in contiguous geographies.
âWe have known both groups for several years and the United PF team is delighted to welcome the New Orleans and Phoenix groups to our growing business,â said Trey Owen, CEO of United PF. âThese groups of clubs are growing rapidly, performing very well and will integrate seamlessly with our existing platform, strengthening our ability to share best practices and leverage scale across all of our clubs. ”
United PF is a growth oriented franchise with significant scope for new club development under its regional development agreements. This partnership, led by Owen, brings to the management team and board of directors extensive experience in the fitness and multi-unit industry. Members of the Thomas Group from the greater Phoenix area and the Sinopoli / Hurring / Siragusa Group from New Orleans will retain ownership and some leadership roles in United PF. The board of directors, which includes members from JLM and Eagle, has extensive experience in franchising and multi-unit development.
The financing of United PF was jointly led by Goldman Sachs Specialty Lending Group and AB Private Credit Investors, lead co-agents and co-arrangers, and Antares, lead co-arranger.
About United PF Partners
United PF is the largest Planet Fitness franchisee in the United States with 78 clubs and development rights to build new clubs in the Midwest, South and Mid-Atlantic regions. Led by CEO Trey Owen, United PF is the combination of seven major Planet Fitness franchisees with clubs in ten states including Alabama, Arizona, Kansas, Louisiana, Mississippi, Missouri, Oklahoma, Pennsylvania, Texas and West Virginia. The keys to United PF’s success are selecting optimal locations, operating exceptionally clean clubs, providing a user-friendly customer experience and protecting the Judgment Free ZoneÂ®.
About JLM Financial Partners
JLM Financial Partners, a subsidiary of JLM Financial Investments founded by Larry Meyer, is an Austin, Texas-based private investment firm that owned 25 Planet Fitness clubs with a major area development agreement that are now part of United PF Partners. JLM also owns and manages health and real estate assets and investments. For more information visit http://www.jlmfinancialpartners.com.
About Eagle Merchant Partners
Eagle Merchant Partners is an Atlanta, GA-based private equity firm focused on lower-middle-market companies in the multi-unit consumer, logistics, and industrial sectors in the Southeast. the United States. The partnership is one of the region’s most experienced private equity investors, investing in sixteen companies with revenues of over $ 1.5 billion. For more information visit http://www.eaglemerchantpartners.com.
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