Exaltare Capital Partners LLC (“Exaltare”), a private equity firm, and Brightwood Capital Advisors LLC (“Brightwood”), a private investment firm, teamed up to acquire 17 Planet Fitness health clubs in Upstate NY owned leading franchisee and operator, David Leon. ECP-PF Holdings Group, Inc. is now the largest Planet Fitness franchisee group in the country with 52 locations in three states that include CT, NM and NY. Planet Fitness is the fastest-growing fitness operator in the United States by providing its members low-prices and unbeatable value in a relaxed Judgment Free® atmosphere that allows all people, at all fitness levels, the opportunity to pursue an active, healthy lifestyle.
Exaltare Capital Partner’s Managing Partner Omar Simmons said, “We are especially excited about adding Dave Leon to ECP-PF Holdings Group, Inc. He has been with the franchise for over a decade and has recently been recognized by the franchisor as their first ‘Hall of Fame Franchisee’. We will continue to invest in new clubs, new equipment and Black Card Spa amenities to continue to exceed our customers’ expectations and are extremely excited about our continued partnership with Brightwood and the Planet Fitness brand.”
Dave Leon has owned and operated health clubs throughout Upstate NY since 1989. As one of the first Planet Fitness franchisee groups in the country, Dave has operated his health clubs under the Planet Fitness flag since 2004.
Under the terms of the agreement, the seller will continue to be an equity owner in the company. The existing senior management team will also continue to oversee the daily operations, and Dave Leon will serve as President of the NY Division.
Dave Leon said, “We feel that Exaltare and Brightwood are the best partners to allow us to continue our commitment to superior service for our members and to expand the Planet Fitness brand in other parts of Upstate NY, the domestic U.S. and Canada.”
The NY Division has approximately 400 employees and will continue to be headquartered in
About Planet Fitness
Planet Fitness is one of the fastest growing health club franchises in the country with over 940 stores nationwide. Based in Dover, NH, Planet Fitness offers a clean, comfortable, non- intimidating atmosphere for its customers at extremely low prices. The company caters to first- time gym users and offers free fitness instruction for all of its members. Most notably, Planet Fitness provides a “judgment free” philosophy, which means members can relax, get in shape, and have fun without being subjected to the hard-core, look-at-me attitude that exists in too many gyms.
About Brightwood Capital Advisors, LLC
Based in New York, NY, Brightwood Capital Advisors specializes in providing growth capital to
U.S. based small and medium-sized businesses targeting companies with EBITDA of $5 million
– $75 million. Brightwood has extensive experience in numerous industries including Business
Services, Healthcare, Energy, Technology/Telecommunications and Franchising.
More information can be found at http://www.brightwoodlp.com
About Exaltare Capital Partners LLC
Based in Boston, MA, Exaltare Capital Partners, is a private equity firm that invests in owner- managed, family-controlled businesses, and corporate divestitures. Exaltare’s investment strategy is to identify and invest in superior, market-leading businesses that are well positioned for further value creation through enhanced growth. This growth is achieved by working closely with the existing management teams to enhance operations and provide strategic direction in a manner that benefits all stakeholders.
More information can be found at http://www.exaltarecapital.com