Trive Capital Invests in JF Fitness of North America, a Leading Crunch Fitness Franchisee
Posted: June 21, 2024 in Chains
Crunch
RICHMOND, VA and DALLAS, TX – Trive Capital (“Trive”), the Dallas-based private equity firm, and 808 Capital Partners (“808”) announce their investment into JF Fitness of North America (“JF Fitness”), a leading Crunch Fitness (“Crunch”) franchisee serving the Mid-Atlantic and Southeastern U.S. Headquartered in Richmond, Virginia, and founded in 2014 by CEO John Freeland, JF Fitness operates 16 gyms across Virginia, Maryland and the Carolinas. In connection with Trive and 808’s investment, JF Fitness acquired Team Roldan, a rapidly growing Crunch franchisee operating eight gyms across Alabama, Georgia and South Carolina.
John Freeland, CEO of JF Fitness, stated, “We are delighted to partner with Trive and 808 in this next phase of our growth. In addition to aligning culturally, our teams possess a shared vision for the long-term success of our company, comprised of thoughtfully executing our defined growth strategy, investing in our key leaders and employees, and relentlessly delivering a market-leading experience for our valued members.”
As a result of the acquisition, JF Fitness has become one of the five largest Crunch Fitness franchisees with 24 combined gym locations. Trive and 808’s investment will also support the company’s continued footprint expansion in the Southeastern U.S. via new gym openings and select acquisitions.
Jared Reyes, Managing Director at Trive Capital, said, “We are thrilled to partner with John and the JF Fitness executive team. John has invested in the people, processes and capabilities that have together driven an impressive track record of successfully launching new gyms. We look forward to supporting the team as they build on this track record and expand the company’s club footprint within its attractive Southeastern U.S markets.”
With 2.5 million systemwide members, Crunch Fitness is the fastest growing big box franchised fitness club system in the High-Value/Low-Price (“HVLP”) category. Crunch offers a comprehensive gym experience, with high-quality cardio, strength training and weightlifting equipment, in addition to group fitness, high-intensity interval training, indoor cycling, and yoga classes. Crunch’s members also enjoy a range of value-added amenities, such as personal training, fitness assessments, a variety of Relax & Recover®️ services, and childcare.
“The HVLP segment remains a compelling sector for investment given the consistent, long-term growth trends we’ve seen in both the value and broader fitness categories. We are excited to support the JF Fitness team as a leading operator within the fast-growing Crunch system,” added Shravan Thadani, Partner at Trive Capital.
Chequan Lewis, President of Crunch Fitness, said, “We’re thrilled for Trive and 808’s support of the Crunch brand through its investment in JF Fitness. We look forward to the next phase of these clubs and markets, which will inherently drive further rapid growth and expansion with Crunch.”
King & Spalding LLP served as legal counsel to Trive. Roth Jackson Gibbons Condlin PLC served as legal counsel to JF Fitness. MOK Advisors served as financial advisor to Team Roldan.
