AUSTIN, Texas, June 18, 2019 /PRNewswire/ -- United PF Partners (United PF), the largest Planet Fitness (NYSE: PLNT) franchisee, has acquired 26 Planet Fitness locations and certain development rights in the Arkansas, Tennessee, Missouri, Mississippi, and Illinois markets from PF Arkansas, LLC. This acquisition increases United PF's operating club count to 152 clubs across 14 states, spanning the West, Southwest, Midwest, South, and Mid-Atlantic regions.
This acquisition supports United PF's overall goal of accelerating growth and further providing access to non-intimidating fitness environments where members can build active lifestyles for an affordable price.
"The addition of these clubs is an incredible opportunity for United PF to continue our growth momentum and expand our footprint throughout our target development areas," said Trey Owen, CEO United PF. "This expansion serves as another example of our continued commitment to help the Planet Fitness brand bring affordable, high-quality fitness to more people across the country. We are excited to see what the future holds."
United PF's team, resources, and scale continue to provide the opportunity for high quality clubs, rapid organic growth, new club expansion, and a premium, judgement free experience for its members.
United PF was formed by JLM Financial Partners and Eagle Merchant Partners in November 2016 with the merger of several leading Planet Fitness franchisees. United PF is a growth-oriented franchisee with significant room for new club expansion under its area development agreements.
Financing for the acquisition by United PF was jointly led by Jefferies and Fifth Third Bank.
About United PF Partners
Headquartered in Austin, Texas, United PF Partners is the largest Planet Fitness franchise group serving 1.1 million members across 152 locations in 14 states. United PF has development rights to build new clubs across the West, Southwest, Midwest, South, and Mid-Atlantic regions.
About Planet Fitness
Founded in 1992 in Dover, New Hampshire, 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 March 31, 2019, Planet Fitness had more than 13.6 million members and 1,806 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.
About JLM Financial Partners
JLM Financial Partners (JLM) is a private investment firm based in Austin, Texas. JLM focuses on multi-unit and scalable businesses with strong management teams and has a primary focus on companies in health and wellness, beauty, lifestyle/entertainment, as well as recreation. For more information, visit http://www.jlmfinancialpartners.com.
About Eagle Merchant Partners
Eagle Merchant Partners is an Atlanta, Georgia based private equity firm focused on lower middle market companies in the multi-unit consumer, logistics and industrial sectors in the Southeastern United States. The partnership is one of the most experienced private equity investors in the region, investing in seventeen companies with more than $1.5 billion in revenues. For more information, visit: www.eaglemerchantpartners.com.
SOURCE United PF Partners