JLM Financial Partners and Eagle Merchant Partners Sell United PF Partners to American Securities
ATLANTA, Jan. 6, 2020 /PRNewswire/ -- American Securities, a leading U.S. private equity firm, has acquired United PF Partners (“United PF”), the largest and fastest-growing area developer within the Planet Fitness system, from JLM Financial Partners and Eagle Merchant Partners.
Headquartered in Austin, Texas, United PF serves more than 1 million members across more than 160 locations in 14 states. United PF was founded in November 2016 through the consolidation of five leading Planet Fitness franchisee groups. It has nearly tripled its club count through a successful organic and M&A growth strategy.
“We are very excited to partner with American Securities as we seek to continue to expand our platform through numerous growth avenues,” said Trey Owen, CEO and Founder, United PF. “JLM Financial Partners and Eagle Merchant Partners gave us the support and the space to be the best Planet Fitness operators in the system, while making it possible for us to expand our geographic footprint and introduce more health-conscious members to the Judgement Free Zone®.”
Planet Fitness is one of the largest and most prolific franchisors of fitness centers in the United States. As of Sept. 30, 2019, Planet Fitness had more than 14.1 million members and 1,899 clubs in the 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, called the Judgment Free Zone®.
Larry Meyer, Chairman, JLM Financial Partners, added, “As strong proponents of the growing fitness and wellness market, we are extremely proud of United PF’s growth and success during our investment. Trey Owen and his team have been excellent partners, outstanding stewards of the Planet Fitness brand and we wish them continued success.”
“Our partnership had a clear vision to invest in Planet Fitness as the market leader,” said Andrew Hirsekorn, Partner, Eagle Merchant Partners. “In partnership with JLM and under Trey Owen’s strong leadership, we were able to build a top tier management team, acquire additional Planet Fitness markets and build new clubs in attractive whitespace.”
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SOURCE Eagle Merchant Partners