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Health and Fitness Club Industry News: Chains

Monday, October 22nd, 2018

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United PF Partners Acquires Arizona Planet Fitness Club Group
Posted: September 5, 2018 in Chains

Planet FitnessAUSTIN, 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. Read More...

Planet Fitness, Inc. Announces Second Quarter 2018 Results
Posted: August 9, 2018 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE : PLNT) reported financial results for its second quarter ended June 30, 2018: Total revenue increased from the prior year period by 31.0% to $140.6 million. System-wide same store sales increased 10.2%. Net income attributable to Planet Fitness, Inc. was $25.9 million, or $0.29 per diluted share, compared to net income attributable to Planet Fitness, Inc. of $12.4 million, or $0.16 per diluted share in the prior year period. Net income was $30.4 million, compared to net income of $18.0 million in the prior year period. Adjusted net income increased 53.3% to $33.2 million, or $0.34 per diluted share, compared to $21.7 million, or $0.22 per diluted share in the prior year period. Adjusted EBITDA increased 21.8% to $58.4 million from $47.9 million in the prior year period. 44 new Planet Fitness franchise stores were opened during the period, bringing system-wide total stores to 1,608 as of June 30, 2018. Read More...

Planet Fitness Completes Refinancing Transaction; Appoints Roger Chacko Chief Commercial Officer
Posted: August 1, 2018 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE:PLNT) (together with its subsidiaries, the "Company") announced that it has completed its previously announced refinancing transaction of certain of its subsidiaries with a new securitized financing facility, with the placement by its special purpose subsidiary (the "Master Issuer") of a new series of $1.275 billion of securitized notes (the "2018 Notes"). Planet Fitness also announced that Roger Chacko has been appointed Chief Commercial Officer effective immediately. In this newly created position, Chacko will be responsible for overseeing the Company's demand generation functions such as marketing, branding, public relations and communications, sales and corporate partnerships, channel management, corporate strategy, analytics, and consumer research. He will report directly to Chris Rondeau, Chief Executive Officer of Planet Fitness. Read More...

Planet Fitness Prices $1.2 Billion Securitized Financing Facility
Posted: July 19, 2018 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) (together with its subsidiaries, the "Company") announced that it has priced $1.2 billion of Series 2018-1 Class A-2 Fixed Rate Senior Secured Notes (the "Class A-2 Notes"), which consist of two tranches. The 2018 Notes are expected to be issued by Planet Fitness Master Issuer LLC (the "Master Issuer"), a newly-formed, limited-purpose, bankruptcy remote, indirect subsidiary of Planet Fitness, Inc. in a privately placed securitization transaction. The aggregate principal amount represents an upsize from the previously announced proposed issuance of $1.15 billion. Read More...

Planet Fitness, Inc. Announces Refinancing Transaction
Posted: July 9, 2018 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE:PLNT) (together with its subsidiaries, the "Company") announced that certain of its subsidiaries intend to complete a refinancing of their existing senior secured credit facilities with a new securitized financing facility. As of March 31, 2018, the Company had an outstanding principal amount of term loans under its senior secured credit facilities of approximately $707.7 million. The Company intends to replace the senior secured credit facilities with a new $1.225 billion securitized financing facility, expected to be comprised of $1.15 billion of senior fixed-rate term notes (the "2018 Notes") and $75 million of variable funding notes (collectively, the "Notes"). Read More...

Planet Fitness National Scholarship Awards $75,000 to 15 Boys & Girls Club Youth For Their Commitment to Kindness and Inclusion
Posted: June 27, 2018 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc., one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S., announced it has awarded 15 youth from Boys & Girls Clubs across the country with $5,000 individual scholarships. Unlike most scholarships, which reward youth for academics or athletic abilities, these were awarded based on each teen’s inspiring efforts to create a kinder world for today’s youth as part of the company’s Judgement Free Generation philanthropic initiative, which aims to prevent bullying and promote kindness everywhere. Ceremonies honoring the scholarship recipients were held at local Boys & Girls Clubs. Read More...

Planet Fitness Appoints Ray Miolla as Chief Development Officer
Posted: June 12, 2018 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S., announced the appointment of Ray Miolla as Chief Development Officer. Mr. Miolla will be responsible for driving strategic initiatives to fuel Planet Fitness' overall system-wide growth, overseeing market analysis, planning and development, real estate, construction and design, and franchise sales. Mr. Miolla joins Planet Fitness with over 20 years of real estate and development experience in domestic and international franchising from global brands like Gap, Burger King and Jamba Juice. Read More...

Atlantic Street Capital-Backed PLNTF Holdings Broadens Footprint with Acquisition of Clubs in Alabama and Virginia
Posted: May 30, 2018 in Chains

Planet FitnessSTAMFORD, CT - Atlantic Street Capital (Atlantic Street), a private equity firm targeting entrepreneurial businesses poised for the next level of growth, announced that its portfolio company PLNTF Holdings (PLNTF), owner of Planet Fitness health clubs in the greater Indianapolis area, has acquired 14 additional health clubs in Alabama and Virginia as part of the next step in its acquisition strategy to expand into new and growing geographic regions. Read More...

Planet Fitness, Inc. Announces First Quarter 2018 Results
Posted: May 9, 2018 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) reported financial results for its first quarter ended March 31, 2018: Total revenue increased from the prior year period by 33.2% to $121.3 million. System-wide same stores sales increased 11.1%. Net income attributable to Planet Fitness, Inc. was $19.9 million, or $0.23 per diluted share, compared to net income attributable to Planet Fitness, Inc. of $8.8 million, or $0.14 per diluted share in the prior year period. Net income was $23.5 million, compared to net income of $17.9 million in the prior year period. Adjusted net income increased 42.3% to $26.2 million, or $0.27 per diluted share, compared to $18.4 million, or $0.19 per diluted share in the prior year period. Adjusted EBITDA increased 15.4% to $48.8 million from $42.3 million in the prior year period. 47 new Planet Fitness franchise stores were opened during the period, bringing system-wide total stores to 1,565 as of March 31, 2018. Read More...

Planet Fitness and HydroMassage Offer Free Massages During Tax Week
Posted: April 9, 2018 in Chains

Planet FitnessHAMPTON, N.H. and CLEARWATER, FL - Planet Fitness, Inc., one of the largest and fastest-growing franchisors and operators of fitness centers in the United States, invites everyone, whether a member of the Judgement Free Zone or not, to recover from tax season tension by treating themselves to a free HydroMassage at any of the more than 1,500 Planet Fitness locations nationwide. The limited-time offer is available from April 14 – 21. Read More...

Planet Fitness To Open Largest “Judgement Free” Gym In The Midwest
Posted: February 28, 2018 in Chains

Planet FitnessOAKLEY, OH - Planet Fitness, one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S. and home of the Judgement Free Zone, announced its 14th club in the Greater Cincinnati Market. Owned and operated by "Planet Fitness Midwest," the $11 million development will be built in Oakley and has a projected opening date by the end of the year. The new Oakley project marks continued expansion in the Midwest for the franchise group and signifies the 30th Planet Fitness location in the region. Read More...

Planet Fitness, Inc. Announces Fourth Quarter and Fiscal Year 2017 Results
Posted: February 22, 2018 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) reported financial results for its fourth quarter and fiscal year ended December 31, 2017 and announced full year 2018 outlook. Fiscal Year 2017 Highlights include: Total revenue increased from the prior year by 13.7% to $429.9 million. System-wide same store sales increased 10.2%. Net income was $55.6 million, which includes the net negative impact of approximately $17.2 million related to the remeasurement of the Company's deferred tax assets and tax benefit arrangements due to recent tax reform, compared to $71.2 million in the prior year. Adjusted net income increased 21.8% to $82.3 million, or $0.84 per diluted share, compared to $67.6 million, or $0.69 per diluted share in the prior year. 210 new Planet Fitness stores were opened system-wide during the year, bringing system-wide total stores to 1,518 at December 31, 2017. Read More...

Brains Over Beauty: 92 Percent Of Americans Prefer Their Significant Other Have a Great Personality Over a Great Body
Posted: February 5, 2018 in Chains

Planet FitnessHAMPTON, N.H. - In preparation for this Valentine's Day, Planet Fitness, Inc., one of the largest and fastest-growing franchisors and operators of fitness centers in the United States, uncovered a definitive answer to that age-old question about love, attraction and everything in between: Are we all about the looks? A national study* commissioned by Planet Fitness found that people's perspectives on love actually go far beyond "skin-deep," with more than nine in ten (92%) preferring a partner with a great personality over a great body. And, what about prioritizing what we look for most in a partner? The study's findings also showed that 81% seek a man or woman with a good personality, followed closely by sense of humor (76%), positive attitude (73%) and open-mindedness (62%)... Read More...

Exaltare Capital Expands Fitness Franchise by Acquiring 10 Planet Fitness Health Clubs in Central New York
Posted: January 24, 2018 in Chains

Planet FitnessBOSTON, MA - ECP-PF Holdings Group, Inc. (“ECP-PF”), a portfolio company of Exaltare Capital Partners, has announced that it successfully acquired 10 Planet Fitness health clubs in the central New York region from Robert Morris. ECP-PF was formed in 2012 through Exaltare Capital’s acquisition of 15 Planet Fitness health clubs in Connecticut. This acquisition brings ECP-PF’s portfolio of health clubs to 71 locations in Connecticut, upstate New York, New Mexico, Arizona and western Canada. ECP-PF plans to build another 50 locations over the next five years, including at least 10 in upstate New York. Read More...

Planet Fitness Expands Global Footprint to Mexico
Posted: January 16, 2018 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S., announced the upcoming opening of its first club in Monterrey, Mexico. The country's first Judgement Free Zone in Santa Catarina is expected to officially open this spring. Planet Fitness has over 10.5 million members with clubs located in all 50 states, Puerto Rico, Canada, the Dominican Republic and Panama. Read More...

Planet Fitness Announces Expansion into All 50 States with First Location in Hawaii; Headquarters Acquires 6 Franchise Stores in Long Island
Posted: January 4, 2018 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S., has expanded its footprint to all 50 states with the opening of its first club in Hawaii. The first Judgement Free Zone in Hawaii is now open and located at the Ala Moana Center in Honolulu. Read More...

Planet Fitness To Bring On A “Judgement Free” 2018 As Presenting Sponsor Of Times Square’s New Year’s Eve Celebration
Posted: December 13, 2017 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc., one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S., announced that it will once again play host to the biggest party on the planet. In partnership with Times Square Alliance and Countdown Entertainment, the Judgement Free Zone is bringing on 2018 as the presenting sponsor of Times Square's New Year's Eve celebration for the third consecutive year, inviting people worldwide to be "Judgement Free" in the New Year and beyond. Approximately one million revelers in Times Square will ring in a "Judgement Free" New Year with bejeweled and festive New Year's Eve party hats and balloons decked out in purple and yellow, the brand's signature colors. Planet Fitness will be featured on "Dick Clark's New Year's Rockin' Eve with Ryan Seacrest 2018" on Sunday, December 31 beginning at 8:00PM EST on the ABC Television Network, with a presence in New York, New Orleans, and Los Angeles, as well as on the Times Square 2018 webcast throughout the night. Read More...

Planet Fitness And Its Franchisees Raise More Than $1 Million For Boys & Girls Clubs of America
Posted: November 27, 2017 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc., one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S., announced that, together with its franchisees and members, it has raised more than $1 million for its nonprofit partner, Boys & Girls Clubs of America, as a result of the company's October membership sale. The annual fundraising effort, now in its second year, supports Planet Fitness' philanthropic initiative, The Judgement Free Generation, which aims to prevent bullying and promote kindness. Since 2016, Planet Fitness and its franchisees have donated nearly $3 million in support of the cause. Read More...

Planet Fitness, Inc. Announces Third Quarter 2017 Results
Posted: November 7, 2017 in Chains

Planet FitnessHAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) reported financial results for its third quarter ended September 30, 2017. Third Quarter Fiscal 2017 highlights include: Total revenue increased from the prior year period by 12.1% to $97.5 million. System-wide same store sales increased 9.3%. Net income attributable to Planet Fitness, Inc. was $15.3 million, or $0.18 per diluted share, compared to net income attributable to Planet Fitness, Inc. of $3.4 million, or $0.08 per diluted share in the prior year period. Net income was $18.9 million, compared to net income of $14.9 million in the prior year period. Adjusted net income increased 17.9% to $18.7 million, or $0.19 per diluted share, compared to $15.9 million, or $0.16 per diluted share in the prior year period. Adjusted EBITDA increased 22.4% to $43.4 million from $35.4 million in the prior year period. 31 new Planet Fitness franchise stores were opened during the period, bringing system-wide total stores to 1,432 as of September 30, 2017. Read More...

Planet Fitness Announces Leadership Appointments
Posted: October 25, 2017 in Chains

Planet Fitness HAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing franchisors and operators of fitness centers in the U.S., announced the appointments of Craig Miller as Chief Digital & Information officer and Rob Sopkin as Chief Development Officer. Mr. Miller will be responsible for driving the vision and leadership of the company's technology innovation, as well as managing its digital information systems, while Mr. Sopkin will lead the company's strategic and aggressive system-wide expansion efforts. "As we continue to build upon our strong leadership team, these appointments will further support and drive our future growth. Craig and Rob are both highly accomplished leaders in their respective fields with exceptional experience delivering strong results to support leading brands," said Chris Rondeau, Chief Executive Officer of Planet Fitness, Inc. Read More...

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