Private equity investment firm Bunker Hill Capital has sold its portfolio company, California Family Fitness (CFF) to Perpetual Capital Partners, a private investment firm based in Washington, DC.
Headquartered in Orangevale, California, CFF is an owner and operator of fitness centres in the greater Sacramento, California area. CFF currently has 19 mid-to-large format club locations, each of which offers a selection of modern exercise equipment, swimming pools and basketball/racquetball courts as well as member services such as fitness class instruction, child care, tanning, sauna and steam rooms, and organised sports leagues.
Rufus Clark, a Managing Partner of Bunker Hill Capital, says: “We are very pleased with the sale of California Family Fitness and are confident that CFF will continue its impressive growth trajectory. We are grateful to the co-founders of CFF, Russ Kuhn and Larry Gury, for partnering with us on this transaction, and to Randy Karr, Cherrie Fosco and the entire CFF management team for their hard work and devotion to the business over the years. We also appreciate the support from our financing partners, Madison Capital Funding and The Hartford.” Brian Kinsman, a Managing Partner of Bunker Hill Capital, added, “The entire CFF team has an incredible passion for their members and the business, and it was very rewarding to see them apply that passion towards developing and executing a long term strategic plan.”
Randy Karr, President of California Family Fitness, says, “We are very appreciative of Bunker Hill Capital’s efforts to help us grow from an entrepreneurially run company to a more developed, professionally run organization. The team from Bunker Hill helped us think more strategically about our business and helped put in place the necessary tools and controls to execute our strategy. We look forward to continuing to grow the business with our new partner, Perpetual Capital, and we welcome them to the CFF family.”
