Centre Partners-Backed One World Fitness Acquires San Diego Fitness

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Dec 05, 2019, 12:26 ET

NEW YORK, Dec. 5, 2019 /PRNewswire/ -- One World Fitness PFF, LLC ("One World Fitness" or the "Company"), a leading owner and operator of Planet Fitness clubs in the Philadelphia metropolitan and New Jersey markets, today announced that it has acquired BMC Mgmt Inc. and affiliates (collectively, "San Diego Fitness"). The acquisition expands the One World Fitness footprint to include the densely populated and high-growth San Diego county area. Financial terms were not disclosed.

San Diego Fitness was founded in 2013 and now serves more than 60,000 members across seven clubs in southern California. The transaction represents One World Fitness's first add-on acquisition since forming the platform in March 2019 in conjunction with an investment from Centre Partners, and brings the Company's total footprint to 25 clubs in three states serving approximately 200,000 members, with significant growth opportunity in these markets.

"We are excited to add these great assets, members and motivated colleagues to our organization," said William Olson, CEO of One World Fitness. "We are excited to partner with the San Diego Fitness team and look forward to accelerating club development and growth going forward."

"The addition of San Diego Fitness to the One World Fitness platform supports our commitment to building a Planet Fitness franchisee with national scale and provides us with a presence in multiple attractive markets," said Bruce Pollack, Managing Partner of Centre Partners.

"We are thrilled to have San Diego Fitness join the One World Fitness platform to bring high-value, low-price fitness experiences in "Judgement Free®" environments to more members across the United States," said founder Bill Fidler.

Marks & Klein LLP provided legal counsel to San Diego Fitness and Akerman LLP provided legal counsel to One World Fitness.

About Centre Partners
Founded in 1986, Centre Partners is a leading middle-market private equity firm focusing on the consumer and healthcare sectors, with offices in New York and Los Angeles. Centre Partners has invested over $2 billion of equity capital in more than 80 transactions since its inception and seeks to partner with founders and management teams to build exceptional businesses. Centre Partners provides management teams access to its unique resources, which includes an extended network of experienced and proven operating executives. Additional information is available at www.centrepartners.com.

About One World Fitness
Headquartered in King of Prussia, PA, One World Fitness owns and operates 25 fitness clubs under the Planet Fitness brand in New Jersey, California and Massachusetts. The Company has a strong track record of new club development, and significant remaining opportunities for unit growth within its existing territories. The Company's network of fitness clubs employs nearly 400 club-level employees and is supported by a well-developed corporate and regional management team.

About Planet Fitness
Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of September 30, 2019, Planet Fitness has 14.1 million members and 1,899 stores in 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic, Panama and Mexico. The Company's mission is to enhance people's lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®. More than 95% of Planet Fitness stores are owned and operated by independent business men and women.