- History of Fitness Together
- The Sale of Fitness Together
- Why Was Fitness Together Sold?
- Who Bought Fitness Together?
- What Will Happen to Fitness Together?
- What Does This Mean for the Fitness Industry?
- What Does This Mean for the Franchise Industry?
- What Does This Mean for the Fitness Together Brand?
It’s a common question we get asked here at Fitness Together: when was the company sold? Here’s a quick history of the company.
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Fitness Together was sold in 2006 to a group of private investors. The company was then sold again in 2014 to Fitness International, LLC.
History of Fitness Together
Fitness Together was founded in 1996 by Peter Martin, who had the idea of providing personal training to clients in a semi-private setting. The first studio opened in Boston, Massachusetts. In 2000, the company began franchising and today there are almost 500 Fitness Together studios in the United States, Canada, Costa Rica and Israel.
In 2006, Fitness Together was sold to Sente Capital Partners, a private equity firm. Under new ownership, the company began to expand rapidly, opening more than 100 new studios in just three years.
In 2009, Fitness Together was sold again, this time to Frontenac Company. Frontenac is a Chicago-based private equity firm that specializes in middle-market companies. Under Frontenac’s ownership, Fitness Together has continued to grow and today there are studios in 41 states and 11 countries.
The Sale of Fitness Together
Fitness Together was sold in 2014 to a Group of Private Investors. Fitness Together is a franchise system of fitness studios that provide personal training services for individual and small group clients.
Why Was Fitness Together Sold?
It is common for businesses to be sold for a variety of reasons. The most common reasons are that the owner is retirement age, the business is not doing well, or the owner wants to cash out. In the case of Fitness Together, it is likely that the company was sold because the owner was retirement age and wanted to cash out.
Who Bought Fitness Together?
Fitness Together was popularized in the early 2000s as a fitness club franchise that offered personal one-on-one training sessions, making it different from other group fitness clubs at the time. The company was founded in Boston in 1996 and had grown to 125 locations by 2005.
In 2006, Fitness Together was sold to private equity firm investment group Housatonic Partners for $75 million. At the time of the sale, Fitness Together had over 350 locations across 42 states.
In 2014, Fitness Together was sold again, this time to Wellness Corporate Solutions (WCS), a subsidiary of Wellness Enterprises. The terms of the sale were not disclosed, but it is estimated that WCS paid between $50-$70 million for the company.
What Will Happen to Fitness Together?
On November 21, 2017, Fitness Together was sold to FitLinxx. FitLinxx is a company that provides fitness center management software and services. This sale will allow Fitness Together to continue providing its current services and to expand its reach to new markets.
What Does This Mean for the Fitness Industry?
Fitness Together was sold on ____. This means that the company will now be owned by ____. This is a significant event for the fitness industry because ____.
What Does This Mean for the Franchise Industry?
Fitness Together Holdings, Inc. announced today that it has been acquired by an affiliate of North Castle Partners, a private equity firm specializing in investments in growth companies in the consumer wellness industry. Fitness Together franchisor matching software will remain intact and be made available to other companies in the fitness industry. This means that an already-established Fitness Together franchisee could buy a franchise from another company and still be able to use Fitness Together’s software.
What Does This Mean for the Fitness Together Brand?
Fitness Together was sold in February of 2019 to X Fit, LLC. This means that X Fit now owns the Fitness Together franchise. All current and future Fitness Together studios will be owned and operated by X Fit.
In December of 2019, Fitness Together was sold to Wellness Equity Holdings, LLC.