ECP-PF Holdings Group, Inc., a portfolio company of Exaltare Capital Partners, has announced that it successfully acquired 10 Planet Fitness health clubs in the central New York region from Robert Morris on December 26, 2017.
ECP-PF was formed in 2012 through Exaltare Capital’s acquisition of 15 Planet Fitness health clubs in Connecticut. This acquisition brings ECP-PF’s portfolio of health clubs to 71 locations in Connecticut, upstate New York, New Mexico, Arizona and western Canada. ECP-PF plans to build another 50 locations over the next five years, including at least 10 in upstate New York.
Omar Simmons, the founder and managing partner of Exaltare Capital, said, “We are excited to support ECP-PF’s continued growth within the Planet Fitness system. Having successfully closed seven Planet Fitness acquisitions, Exaltare Capital continues to seek additional acquisitions in North America, offering a fast, certain exit for entrepreneurs looking to diversify their wealth while preserving the business they built.”
David Humphrey, the chief executive officer of ECP-PF, added, “We thank Robert Morris for successfully developing these 10 locations over the last 15 years. We are eager to integrate this region into ECP-PF’s operations and we will continue to invest in new locations, new equipment and Black Card® spa amenities to continue to exceed our customers’ expectations.”
About Exaltare Capital Partners
Exaltare is a private equity firm focused on acquiring lower middle market businesses. Based in Boston, MA, Exaltare’s principals have significant private equity and operational experience that enables the firm to be a value-added partner to its portfolio companies. For more information, please refer to the Exaltare website at www.exaltarecapital.com.
About ECP-PF Holdings Group, Inc.
ECP-PF is based in Orange, CT and is one of the largest Planet Fitness franchise ownership groups. ECP-PF currently operates 71 locations across Canada, Arizona, Connecticut, New Mexico and New York.
About Planet Fitness
Founded in 1992 in Dover, N.H., Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of September 30, 2017, Planet Fitness had approximately 10.5 million members and 1,432 stores in 49 states, the District of Columbia, Puerto Rico, Canada and the Dominican Republic. The Company’s mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®. More than 95% of Planet Fitness stores are owned and operated by independent business men and women.