Gold’s Gym Acquires Six 24 Hour Fitness Locations in St. Louis and Oklahoma City
Gold’s Gym has agreed to acquire all of the 24 Hour Fitness locations in the St. Louis and Oklahoma City metro areas. As part of the deal, the six 24 Hour Fitness locations will be rebranded under the Gold’s Gym name, making Gold’s Gym the market leader in these cities with 10 locations in Oklahoma City and 11 locations in St. Louis.
All of the existing 24 Hour Fitness memberships will be honored at the new Gold’s Gym locations without any interruption to current members and the clubs will remain open throughout the conversion. Members will also be given the ability to access the Gold’s Gym network of more than 700 locations in 37 states and 23 countries.
“We are thrilled to welcome these 24 Hour Fitness clubs and their members into the Gold’s Gym family, and we are dedicated to making the transition as easy as possible,” said Gold’s Gym CEO Brandon Bean. “We have a great community of members at our existing Gold’s Gym locations in both St. Louis and Oklahoma City, and we’re excited to expand to help even more people achieve their potential through fitness with new members and associates joining us from 24 Hour Fitness.”
Johnson Health Tech Acquires Leisure Fitness
Johnson Health Tech (JHT) announced that it will purchase Leisure Fitness, a Newark, Delaware-based specialty fitness retailer with 27 stores, primarily on the Eastern coast. JHT is one of the world’s largest fitness equipment manufacturers and retailers, with brands like Matrix, Vision and Horizon.
According to Nathan Pyles, President of Johnson Health Tech North America (JHTNA), “Together, Johnson Health Tech and Leisure Fitness will continue to grow and shape specialty retail. With the addition of Leisure Fitness, JHTNA will have almost 100 specialty fitness retail locations in the United States. That distribution network, combined with the product design, engineering and manufacturing excellence of our global organization, gives us a unique opportunity to fuel continued growth.”
With this acquisition, JHT, which is already the world’s largest specialty fitness retailer, will have 315 retail locations worldwide. Leisure Fitness will be merged into the existing JHTNA retail group and Leisure Fitness’s management team is expected to continue to work for JHT.
In the press release Paul Bastianelli, CEO of Leisure Fitness said, “We’re proud to be part of an organization like Johnson Health Tech that continues to invest in specialty retail. Like Leisure Fitness, JHT believes in investing in great people that can deliver outstanding customer experiences. With our shared vision and customer commitment, we’ll continue to help grow specialty fitness.”
“Leisure Fitness brings an organization with strong and diverse resources to JHTNA. We’re excited to welcome them to our team,” said Bob Zande, CFO/COO of JHTNA. “With Leisure’s strong East Coast presence, we’ll be able to further enhance our service levels and distribution in that region.”Read More
GAIAM Agrees to Sell Yoga Brand for $146 Million
Sequential Brands Group announced that it signed a definitive agreement to acquire GAIAM, Inc.’s branded consumer products business, including its SPRI brand, for approximately $146 million. GAIAM Inc., is selling off it’s non-digital businesses to focus on developing its digital media subscription service.
GAIAM has agreed to sell its branded consumer products business to Sequential Brands Group Inc., New York City, for approximately $146 million, according to a media release. The consumer business includes GAIAM’s yoga, fitness and wellness products, including the GAIAM and SPRI brands, which are distributed through Amazon, Kohl’s, Target, and Bed, Bath & Beyond. The brands will integrate into sequential’s Active Division, which is currently anchored by the AND1 and AVIA brands.
In addition, GAIAM also sold its 51 percent interest in Natural Habitat to Lindblad Expeditions Holdings Inc. for $12.85 million in a deal that closed on May 4, according to a press release.
If you own a yoga studio or yoga related business and would like to explore your options, please contact Rich Jackim or Jim Bates at Sports Club Advisors to start a free, confidential conversation today.Read More
HILTON HEAD ISLAND, SC (May 18, 2016) — The Tennis Industry Association (TIA) has announced a strategic partnership with Sports Club Advisors (SCA) of Chicago in the areas of strategic management and financial advisory services for tennis clubs and facilities.
Through the TIA’s “Strategic Management Initiative,” Sports Club Advisors will provide a range of services that tennis and health facility owners can take advantage of, including Mergers & Acquisitions, Business Broker Services, Exit Planning Services, Business Valuation, Industry Benchmarking, Operational Consulting, Education & Certification, Executive Search Services, and Raising Capital.
“The TIA recognizes the need to provide sophisticated financial advisory services to its members as facility managers and owners navigate the challenges of operating a tennis facility in the 21st century,” says TIA Executive Director Jolyn de Boer. “With this partnership, facility owners now have a place to go for resources, education and assistance.” Sports Club Advisors also is now a part of the new TIA Knowledge Base (tennisuniversity.org/strategic-management), which provides tennis industry businesses with resources and information to help them succeed.
Sports Club Advisors is led by Jim Bates and Rich Jackim, two seasoned deal-makers and published authors with over 30 years of combined experience advising business owners. Bates, who co-authored the book “Business Valuation for Dummies”, has also been in the tennis business for 30 years, and Jackim, a former merger & acquisitions attorney and investment banker, has held senior leadership roles at national firms.
“Rich and I are passionate about helping privately held business owners,” Bates says. “We are excited about the role we can play to help further this game and this industry.”
To learn more about Sports Club Advisors, visit sportsclubadvisors.net. Owners can receive a Free Opinion of Value of their club, and prospective buyers can register to receive notices of investment opportunities in the tennis, sports and fitness industries. TIA members at the Associate level and above receive 10% off all Sports Club Advisors fees.
About Sports Club Advisors
Sports Club Advisors is the first industry-specific firm of its kind. Led by Jim Bates and Rich Jackim, the Chicago-based advisory firm will provide “Wall Street caliber investment banking services to the tennis & fitness industry.” The two principals are seasoned deal-makers and published authors with over 30 years of combined experience advising business owners. Bates also an expert in the tennis industry both on and off the court, having taught tennis for 30 years. He was named PTR Pro of the Year for Illinois in 2012, has written for TennisPro magazine, speaks at TIA and PTR events, and holds three PTR certifications. Jackim was a mergers & acquisitions attorney with White & Case in New York City. He also has an MBA from the Kellogg Graduate School of Management and worked as an investment banker. Visit sportsclubadvisors.net or contact firstname.lastname@example.org or email@example.com.
About the TIA
The Tennis Industry Association, the not-for-profit trade association for tennis, is THE unifying force in the tennis industry whose mission is to promote the growth and economic vitality of tennis by working closely with the U.S. Tennis Association and industry partners to develop and implement initiatives to increase tennis participation and improve the health of industry businesses. Core TIA activities include producing more than 70 research reports annually on participation and consumer/trade research, in addition to Grow the Game Initiatives such as PlayTennis.com, Cardio Tennis, 10 and Under Tennis, the GrowingTennis System™, and Careers in Tennis. Visit TennisIndustry.org or call 866-686-3036.
Genesis Health Clubs Acquires Four Gold’s Gyms in Kansas City
April 29, 2016 –Genesis Health Clubs announced that it has purchased four corporate-owned Gold’s Gym locations in the Kansas City metro area. Genesis first entered the Kansas City market with its purchase of the Midtown Athletic Club in Overland Park in March 2015.
With 30 years of experience and expertise in the health and fitness industry, Genesis is on an acquisition spree. This latest acquisition is one of thirteen in the past five years for Rodney Steven II, owner and president of Genesis Health Clubs. Between 2011 and 2014 Genesis doubled its footprint in the Midwest with the purchase of Maximus Fitness, Ozark Fitness, and MAX Fitness.
Genesis now has 25 locations in Kansas and Missouri. Genesis has achieved its stated goal of having a Genesis club in every city in the state of Kansas with a population of 30,000 or more.Read More
Chuze Fitness Receives Investment from Main Post Partners
Chuze Fitness, which calls itself a “local gym featuring low prices and state of the art facilities & equipment” has 21 locations in CA, AZ and CO with over 100,000 members. In April 2016, they secured an equity investment from financial partner Main Post Partners to accelerate unit growth in existing and new markets.Read More
Jim Bates, a partner with Sports Club Advisors, will be presenting at the Tennis Industry Association’s 2016 T.O.M Conference in Miami, Florida on March 25th and hosting round table discussions with owners and managers of tennis clubs from around the United States.
Sports Club Advisors is proud to be the only mergers and acquisitions firm to be endorsed by the Tennis Industry association and to partner with TIA to help tennis club owners achieve their personal, business and financial goals.Read More