After six years of partnership with Excel Fitness, Altamont Capital Partners (Altamont) has exited its investment with a sale of the company to Olympus Partners.
As part of that transaction, completed last month, Excel’s management team and founders, along with Altamont, established a bonus pool that provided every employee at the company – more than 1,500 individuals – with a payment at closing, in recognition of their contributions.
Altamont acquired the Planet Fitness franchisee business in 2016, building on its prior multi-unit consumer investing experience, including with Tacala, the largest Taco Bell franchisee in the country.
Terms of the transaction have not been disclosed.
