TPG Growth To Buy Gym Chain Crunch Fitness
TPG Growth will acquire Crunch Fitness for an undisclosed amount. The transaction includes Crunch’s company-owned “Signature” facilities, as well as its global franchising business.
Financial terms of the transaction were not disclosed.
Crunch Fitness is a health and fitness company with around 300 fitness centers serving more than 1.3 million members across the U.S., Australia, Canada and Spain. Crunch is managed by Mark Mastrov and Jim Rowley who acquired Crunch with the private equity arm of Angelo Gordon in 2009 and began franchising the brand in 2010.
“The investment from TPG is a testament to Crunch’s distinct brand, great facilities, and strong management and club teams. Under the leadership of Ben Midgley and Keith Worts, we’ve been able to create a fun, team-focused, and fitness-minded atmosphere that our members, team, and franchise partners embrace and enjoy,” said Jim Rowley, CEO of Crunch.
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Posted-In: Crunch Fitness Jim Rowley TPG GrowthM&A News
