United PF Partners Acquires Arizona Planet Fitness Club Group
Posted: September 5, 2018 in Chains
Planet Fitness
AUSTIN, TX – United PF Partners (United PF), the largest Planet Fitness (NYSE :PLNT) franchisee, has acquired 19 Planet Fitness locations in the Phoenix market from JEG-FIT, increasing its operating club count to 108 clubs across 10 states. United PF was formed by JLM Financial Partners (JLM) and Eagle Merchant Partners (Eagle) in November 2016 with the merger of several leading Planet Fitness franchisees.
In addition to acquiring the operating clubs from JEG-FIT and the remaining development rights to the Phoenix market, the investment from United PF will provide capital to fuel club-level improvements and growth through the development of new clubs in this market. United PF’s resources and scale will continue to provide the opportunity for rapid organic growth, operational excellence and a premium experience to its members.
“We have known and admired the Phoenix group for several years and the United PF team is thrilled to welcome the Phoenix clubs to our growing enterprise,” said Trey Owen, CEO, United PF. “This fast-growing group and high-performing team will fit nicely with our existing family of clubs, furthering our ability to share best practices and leverage scale across all of our clubs.”
United PF is a growth-oriented franchisee with significant room for new club expansion under its area development agreements. This partnership, led by Owen, brings a depth of fitness and multi-unit industry experience to the leadership team and the board. The board, which includes members of JLM and Eagle, possesses deep multi-unit franchise and development experience.
Financing for United PF was jointly led by Goldman Sachs Specialty Lending Group and AB Private Credit Investors, co-agents and co-lead arrangers, Antares Capital LP, co-lead arranger, BlackRock Capital Investment Corporation and Willow Tree Credit Partners.
