Fremont Health Club Private Holdings and Pulse Equity Partners teamed up to acquire In-Shape Health Clubs, a California operator of family-friendly fitness clubs, in the latest private equity deal in the gym and wellness industry.
Terms of the deal weren’t disclosed, although Douglas W. Lehrman, founder and chief executive of Pulse Equity, said the equity check for the investment falls squarely in the range of $10 million to $100 million that Pulse Equity seeks to deploy per deal.
Co-investor Fremont Private Holdings is the direct investment arm of Fremont Group, a San Francisco private investment company. Fremont and Pulse Equity had looked at deal opportunities together in the past, and this is the first time the two firms made an investment together, said Mr. Lehrman.
In-Shape opened its first club in Stockton, Calif., in 1981 and now operates more than 60 locations in California. The company targets suburban families, with its clubs providing such family-friendly services as childcare as well as outdoor facilities such as swimming pools, tennis and racquetball courts, and barbecue places.
Its target market is one key factor that helps differentiate In-Shape in the competitive fitness industry, said Mr. Lehrman. For example, Planet Fitness targets first-time gym users that tend to be more value-conscious. An upscale brand, Equinox Fitness, tends to target the urban elite.
Both Planet Fitness and Equinox have previously received private equity capital. Earlier this week, Exaltare Capital Partners and Brightwood Capital Advisors acquired PFC Management LLC, a Planet Fitness franchisee in Connecticut. And Equinox counted North Castle Partners as a past investor.
Mr. Lehrman, a former North Castle senior partner before he co-founded Pulse Equity in 2010, has invested in the health and wellness industry for 15 years. The In-Shape opportunity was sourced through Mr. Lehrman’s industry connections. Paul Rothbard, In-Shape’s chief executive, and his family retain a significant interest in the company.
Mr. Lehrman said the sponsors plan to expand In-Shape into other geographic markets and may look to acquire other clubs.
Recently, Methodist Fremont Health club chose Shawn Shanahan to act as head of the Fremont Health Foundation. In this job, Shanahan drives all asset improvement exercises, giver and an extensive variety of progressing programming and exceptional task endeavors.
However, shanahan went through the beyond nine years driving the Fremont Area United Way as chief. And also, under her initiative, the Fremont Area United Way moved from a conventional gathering pledges association to a local area influence association zeroing in on essential requirements, schooling, wellbeing and pay. So, she helped start the Fremont Family Coalition and, alongside an assortment of local area accomplices, has supported various significant counteraction programs connected with youngster and family government assistance. Shanahan likewise played a critical position of authority in assisting the local area with answering the 2019 spring flooding fiasco.
“Shawn is a genuine change specialist, and she has made enormous effect through her numerous long periods of administration locally. We are glad that Shawn will keep on involving her gifts locally through the Fremont Health Foundation,” said Bill Vobejda, VP of activities at Methodist Fremont Health. “With Shawn’s assistance, we desire to additionally grow our accessible assets to help key region of our programming. Magnanimity keeps on assuming a basic part in medical services, and we are lucky to have Shawn join our group.”
Therefore the past seven years, the Fremont Health club Foundation has helped spring occasion occasions, similar to our popular Derby Parties or, most as of late, our astonishing Garden Party. So, these occasions have been instrumental in supporting the projects and administrations presented by Methodist Fremont Health. As a matter of fact, through the course of recent years, we have raised more than $500,000 from these occasions. Yet, this year we are dealing with something new and somewhat unique, so write in your schedules for Feb. 22 at Christensen Field in Fremont. You won’t have any wish to miss this.
Health clubs typically comprise all the characteristics of gyms and fitness centres because they offer certified staff with personal trainers, individual and group fitness classes, a variety of equipment, an array of amenities (pool, steam room, sauna, etc.), and space for sports like tennis, basketball and volleyball.
A usually commercial establishment having members who pay a fee to use its health and fitness facilities and equipment.
Fremont Health Club is a local, family-owned fitness center in the heart of Fremont, Seattle. We offer 24/7 access, group fitness classes (over 40 classes per week!), personal training, small group training, special events, a full-service gym with heavy bags, and a Olympic rack for squats, saunas and more. Health is a trip and we want to help you along the way. With commitment from our neighbors, exceptional customer service, and programming that will motivate and inspire, we’re here to comfort you reach your health goals.
At the Fremont Health Club, we want to help you along your own personal trip to health. With a word to our neighbors, exceptional customer service, and programming that will motivate and inspire. We are here to help you range your fitness goals, whatever they may be.
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