Centre Partners-backed One World Fitness acquires San Diego Fitness
One World Fitness, an owner and operator of Planet Fitness clubs in the Philadelphia metropolitan and New Jersey markets, has acquired BMC Mgmt Inc and affiliates (San Diego Fitness).
The acquisition expands the One World Fitness footprint to include the densely populated and high-growth San Diego county area. Financial terms have not been disclosed.
San Diego Fitness was founded in 2013 and now serves more than 60,000 members across seven clubs in southern California. The transaction represents One World Fitness’s first add-on acquisition since forming the platform in March 2019 in conjunction with an investment from Centre Partners, and brings the Company’s total footprint to 25 clubs in three states serving approximately 200,000 members, with significant growth opportunity in these markets.
“We are excited to add these great assets, members and motivated colleagues to our organisation,” says William Olson, CEO of One World Fitness. “We are excited to partner with the San Diego Fitness team and look forward to accelerating club development and growth going forward.”
“The addition of San Diego Fitness to the One World Fitness platform supports our commitment to building a Planet Fitness franchisee with national scale and provides us with a presence in multiple attractive markets,” says Bruce Pollack, Managing Partner of Centre Partners.
“We are thrilled to have San Diego Fitness join the One World Fitness platform to bring high-value, low-price fitness experiences in “Judgement Free” environments to more members across the United States,” says founder Bill Fidler.
Marks & Klein LLP provided legal counsel to San Diego Fitness and Akerman LLP provided legal counsel to One World Fitness.