Announced
Completed
Financials
Tags
United States
Private Equity
Acquisition
Fitness system
Majority
Friendly
Recreational Products
Private
Single Bidder
Completed
Synopsis
Prospect Hill Growth Partners, a private equity firm focused on middle-market growth companies, completed the acquisition of a majority interest in Fitness Ventures, a franchisee in the Crunch Fitness system. Financial terms were not disclosed. “The team from Prospect Hill brings unparalleled experience in scaling multi-unit businesses across the US. This new partnership with Prospect Hill and new access to institutional capital is going to allow us to seize on these opportunities at a faster pace, accelerating our overall growth rate and pushing to our ultimate goal of owning and operating 100 Crunch Fitness locations,” Brian Hibbard, Fitness Ventures Founder and CEO.
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