Town Sports International Holdings Inc. Announces Acquisition of TMPL Gym
NEW YORK, Feb. 27, 2018 /PRNewswire/ -- Town Sports International Holdings Inc., ("TSI' or the "Company") (Nasdaq: CLUB), a diversified holding company and the largest owner and operator of fitness clubs in the Northeast, announced today the acquisition of TMPL. Founded by David Barton, TMPL focuses on the intersection of metabolic science, exercise and nutrition leveraging state of the art technology to drastically change one's body.
The flagship Manhattan location will continue to operate under the TMPL brand and will remain committed to excellence and unparalleled member services under the TSI umbrella. Since taking the role of CEO of TSI in 2016, Patrick Walsh has transformed its range of offerings within the portfolio utilizing acquisitions and overhauls to enhance and further the portfolio as well as the trajectory of the company.
"David Barton is an iconic name in the fitness industry and acquiring TMPL was an obvious decision. It fits into our continued growth strategy and gives TSI a new foothold in the luxury market," says Walsh. "David is a visionary, and we're excited to see what the future holds working together."
TMPL fuses innovation and luxury for an intelligent approach to fitness that is effective and addictive. TMPL's metabolic analysis delivers each member individualized exercise and nutrition programming to condition each person's metabolism to more efficiently alter body composition. Additional TMPL amenities include a 25-meter saltwater pool with dedicated aqua classes, 20 tons of free weights, digitally programmed equipment, virtual reality cycle studio with immersive 30-foot video wall, steam room and sauna.
"Reimagining the health club and refining the workout has been the heartbeat of my career and I believe that TMPL is the future," explains Barton. "Working with TSI will allow TMPL to achieve its full potential and grow into a household name."
With the closing of this acquisition, TSI expands its footprint in the luxury fitness market with plans to open a second location in the West Village in Manhattan in summer 2018. The symbiotic relationship will allow Barton to focus on the design, customer experience and personal training at TMPL while using TSI's vast resources and operating expertise.
About Town Sports International Holdings, Inc.
Town Sports International Inc., is a diversified holding company owning subsidiaries engaged in a number of business and investment activities. The Company's largest operating subsidiaries have been involved in the fitness industry since 1973 and have grown to become the largest owner and operator of fitness clubs in the Northeast. Town's corporate structure provides flexibility to make investments across a broad spectrum of industries in order to create long-term value for shareholders. Additional information can be found at www.townsportsinternational.com
About David Barton
David Barton is a disruptor and visionary within the gym industry. Deemed by The New York Times as "the man who made working out cool," David is widely respected as the person who first breathed life, sexiness and celebration into fitness. Prior to TMPL, Barton founded his namesake David Barton Gym, distinguished across the country for its intense personal training, cutting-edge design, charged environment and provocative advertising with locations in New York, Miami, Chicago, Los Angeles, Las Vegas and Seattle. Additional information can be found at www.tmplgym.com
SOURCE Town Sports International Holdings Inc.
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