Health and Fitness Club Industry News: Chains
Thursday, June 1st, 2023
Planet Fitness Opens Gallery Place Location
Posted: September 12, 2022 in Chains
TIMONIUM, MD - Planet Fitness, one of the nation’s largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces the opening of its Gallery Place club in Washington D.C. An official Planet Fitness Gallery Place grand opening celebration is being planned for October 17. Planet Fitness Gallery Place is the first of three DC area clubs that PFGP is bringing to the community. The franchise division currently owns and operates 21 clubs in the DMA, including Ivy City and Penn Branch in the nation’s capital. Overall, there are 48 Planet Fitness clubs throughout the area. Read More...
Planet Fitness Franchise Group, Excel Fitness, Acquires 14 Locations in Virginia and North Carolina From Local Franchisee
Posted: August 25, 2022 in Chains
VIRGINIA BEACH, VA - Excel Fitness, a franchisee of Planet Fitness, announces its acquisition of 14 Planet Fitness locations in the Hampton Roads region of Eastern Virginia from the KSMA group, owned and operated by husband-and-wife team Ken and Sharree Ryder, their son Michael Barnes and daughter Amanda Williamson. This deal brings Excel's club count to 107 and includes development rights to bring six more locations to the Virginia market over the next five years. Read More...
Planet Fitness Promotes Jamie Medeiros to Chief Brand Officer
Posted: August 9, 2022 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) (the "Company"), announces that Jamie Medeiros, Vice President of National Marketing, has been promoted to Chief Brand Officer. Ms. Medeiros, a 22-year Company veteran, will lead the brand strategy and work collaboratively with agencies and across the organization to ensure the brand vision comes to life through national and local marketing strategy, creative, brand marketing sponsorships and activations, and social media. She will report directly to Chris Rondeau, Chief Executive Officer. Read More...
Planet Fitness Opens Newest Club in Martinsville, Indiana
Posted: July 20, 2022 in Chains
MARTINSVILLE, IN - Planet Fitness, one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces the grand opening of its newest club in Martinsville, Indiana. Planet Fitness is celebrating the grand opening on Friday, July 29, with a ribbon cutting ceremony with Mayor Kenneth Costin and the Martinsville Chamber of Commerce starting at 3:00 p.m. During the celebration, Planet Fitness will donate $2,500 to the Indy Honor Flights, a local non-profit organization that honors Indiana veterans for their service and sacrifice. Read More...
Planet Fitness Awards $250,000 in Scholarships to 50 Boys & Girls Clubs of America Teens For Their Efforts in Promoting a Kinder and More Inclusive World
Posted: June 29, 2022 in Chains
HAMPTON, N.H. - Planet Fitness, one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces the recipients of its annual Judgement Free Generation scholarship, which recognize teens for their commitment to promoting kindness and contributing to a more judgement free planet. Fifty deserving Boys & Girls Clubs of America teens were each awarded $5,000, over half (56%) of whom will be first-generation college students. Read More...
Altamont Capital Partners Exits Investment in Excel Fitness, a Leading Planet Fitness Franchisee
Posted: June 13, 2022 in Chains
PALO ALTO, CA - After six years of partnership with Excel Fitness, Altamont Capital Partners has exited its investment with a sale of the company to Olympus Partners. As part of that transaction, completed last month, Excel's management team and founders, along with Altamont, established a bonus pool that provided every employee at the company, more than 1,500 individuals, with a payment at closing, in recognition of their contributions. Read More...
Planet Fitness Hagerstown Hosts Grand Reopening
Posted: May 17, 2022 in Chains
HAGERSTOWN, MD - Planet Fitness, one of the nation’s largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, recently celebrated the grand reopening of its Hagerstown club. Planet Fitness Hagerstown originally opened in 2009 and recently underwent over $1 million worth of renovations. Expanded by 4,000 square feet of space, the now 21,250 square-foot club features a new PF Black Card Spa area, new strength and cardio equipment, TRX suspension training, updated locker rooms, new entrance way floor tile and a new front desk. Read More...
Planet Fitness Announces New Development Agreement in New Zealand
Posted: May 10, 2022 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) has announced the Company has signed an Area Development Agreement with Castle Point Fitness NZ Ltd. ("Castle Point"), to expand the brand into New Zealand. Castle Point is a joint venture between the founder of The Fresnel Companies, LLC, a U.S. based investment firm with substantial international experience, and a private family office. The agreement will bring a minimum of 25 Planet Fitness locations to New Zealand over the next several years. Read More...
Olympus Acquires Planet Fitness Franchisee, Excel Fitness’ 90 Locations Serving 750,000 Members
Posted: April 29, 2022 in Chains
STAMFORD, CT - Stamford, Connecticut-based private equity firm, Olympus Partners, has acquired Excel Fitness Holdings, LLC ("Excel"), a Planet Fitness franchisee serving six markets including Austin, Dallas Ft-Worth, Northwest Arkansas, Raleigh-Durham, Tulsa and Virginia. Excel Fitness is headquartered in Austin, Texas and operates over 90 Planet Fitness locations serving nearly 750,000 members at the time of acquisition. Read More...
Planet Fitness Expands DC Footprint With Gallery Place Location
Posted: February 22, 2022 in Chains
TIMONIUM, MD - Planet Fitness, one of the nation’s largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announces further expansion in the nation’s capital. Planet Fitness Gallery Place is scheduled to open in June and will occupy the former Washington Sports Club space. Planet Fitness Gallery Place will be the first of three D.C. area clubs that PFGP is bringing to the community. Read More...
Planet Fitness Prices $900 Million Securitized Financing Facility
Posted: January 26, 2022 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT) (together with its subsidiaries, the "Company") announced that it has priced $900 million of Series 2022-1 Class A-2 Fixed Rate Senior Secured Notes (the "Class A-2 Notes"), which consist of two tranches: the Class A-2-I Senior Secured Notes with an anticipated repayment term of five years, with an aggregate principal amount of $425 million and a fixed interest rate of 3.251% per annum, payable quarterly, and the Class A-2-II Senior Secured Notes with an anticipated repayment term of ten years, with an aggregate principal amount of $475 million and a fixed interest rate of 4.008% per annum, payable quarterly. Read More...
HGGC-Backed Grand Fitness Partners Grows with Acquisition of 13 Additional Planet Fitness Locations
Posted: January 13, 2022 in Chains
TOMS RIVER, N.J. - Grand Fitness Partners, one of the largest franchisees within the Planet Fitness system, announces that it has acquired a portfolio of 13 Planet Fitness locations across Virginia from the Asbell Group. The acquisition follows an investment in Grand Fitness by HGGC, a leading middle market private equity firm, in November 2021. Financial terms of the transaction were not disclosed. Read More...
Planet Fitness, Inc. to Acquire 114 Locations From One of its Top Franchisees, Sunshine Fitness Growth Holdings, LLC.
Posted: January 11, 2022 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, announced it has signed a definitive agreement to acquire Sunshine Fitness Growth Holdings, LLC ("Sunshine Fitness"), a leading owner and operator of more than 100 Planet Fitness clubs in the Southeast United States in a cash and stock transaction valued at $800 million. Read More...
Planet Fitness Becomes First Fitness Brand to Achieve the WELL Health-Safety Rating
Posted: January 3, 2022 in Chains
HAMPTON, N.H. - Planet Fitness, one of the largest and fastest-growing global franchisors and operators of fitness centers with more members than any other fitness brand, is the first fitness brand to achieve the WELL Health-Safety Rating for Facility Operations and Management by the International WELL Building Institute (IWBI). The rating recognizes Planet Fitness' leadership in adopting the leading framework to ensure a safer and healthier environment for its employees and members across all of its facilities, nearly 2,200 clubs across all 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia, as well as its company headquarters in Hampton, New Hampshire. Read More...
Planet Fitness Hagerstown Reopens After Completing $1M Renovation
Posted: December 17, 2021 in Chains
HAGERSTOWN, MD - Planet Fitness, one of the nation’s largest and fastest-growing franchisors and operators of fitness centers with more members than any other fitness brand, recently completed over $1 million worth of renovations to its Hagerstown club, which originally opened in 2009. During a four-month period (which included a one-month closure), the facility was expanded by 4,000-square-feet of space. Now totaling 21,250-square-feet, the club features a new PF Black Card Spa area, new strength and cardio equipment, TRX suspension training, updated locker rooms, new entrance way floor tile and a new front desk. A grand reopening celebration will take place in early 2022. Read More...
Planet Fitness Returns As Presenting Sponsor of Times Square’s Iconic New Year’s Eve Celebration
Posted: December 6, 2021 in Chains
HAMPTON, N.H. - Planet Fitness, one of the largest and fastest-growing global franchisors and operators of fitness centers with more members than any other fitness brand, announced that it will again return as the presenting sponsor of Times Square's New Year's Eve celebration for the seventh consecutive year, in partnership with Times Square Alliance and Countdown Entertainment. Revelers will return to Times Square to ring in a "Judgement Free" 2022 with festive purple and yellow New Year's Eve party hats complete with a silky material with gold beads hanging from a holographic brim. Planet Fitness will also be featured on the 50th anniversary of "Dick Clark's New Year's Rockin' Eve with Ryan Seacrest 2022." Read More...
HGGC Completes Majority Investment in Planet Fitness Franchise Group PF Atlantic Holdings
Posted: November 18, 2021 in Chains
PALO ALTO, CA - HGGC, a leading middle market private equity firm, announced it has completed a majority investment in PF Atlantic Holdings, a top-15 franchisee within the Planet Fitness health club system. In conjunction with the investment, PF Atlantic Holdings is rebranding as Grand Fitness Partners. Co-founders CEO, David Bidwell, and COO, Scott Linsky, will continue to lead the business and retain a significant minority stake in the business alongside current investor Monogram Capital. Details of the private transaction were not disclosed. Read More...
Planet Fitness Franchisee United PF Partners Expands Presence in Phoenix as an Industry Leader
Posted: November 12, 2021 in Chains
PHOENIX, AZ - United PF Partners, the largest Planet Fitness franchisee, has announced further expansion in Phoenix with two new club openings in early 2022. United PF Partners has plans for continued growth over the next five years to maintain the brand's industry-leading status and the most fitness centers in the Phoenix area. The two new clubs will bring United PF Partners' total to 38 Planet Fitness locations. Read More...
Brightwood Capital Advisors Anchors Senior Secured Term Loan to Finance Acquisition of Longtime Portfolio Company ECP-PF Holdings Group
Posted: November 1, 2021 in Chains
NEW YORK, N.Y. - Brightwood Capital Advisors, a leading private credit firm focused on providing capital to growing North American middle-market businesses, announced that it supported the sale of portfolio company ECP-PF Holdings Group, one of the nation's largest Planet Fitness franchisees, to TowerBrook Capital Partners, an international investment management firm. ECP-PF has been a portfolio company of Brightwood since 2012 and has executed several transactions to support the company's growth from a founder-owned, 15-location startup to a 108-location leader in the fitness franchisee sector serving approximately 600,000 members in the United States and Canada. Read More...
Planet Fitness Selects Huge as Digital Agency of Record
Posted: October 21, 2021 in Chains
HAMPTON, N.H. - Planet Fitness, Inc. (NYSE: PLNT), one of the largest and fastest-growing global franchisors and operators of fitness centers with more members than any other fitness brand, announceds it has selected Huge, a global experience agency, as its new digital agency of record following a strategic competitive review. Planet Fitness will partner with Huge to accelerate the company's digital strategy and support the continuous evolution of its mobile app, website and in-club digital experience, with a focus on strategy, customer satisfaction and creative design within these digital channels. Read More...
