Private equity firm ClearLight Partners has acquired a significant ownership interest in Planet Fitness franchisee, Taymax Fitness, a leading health club operator in Texas and Tennessee.
Planet Fitness is the fastest-growing full size health club franchise in the US, and provides its members with an unbeatable value and a relaxed Judgment Free atmosphere that allows them the opportunity to pursue an active, healthy lifestyle without being judged by others. Financial terms of the transaction have not been disclosed.
Kyle Nagel, CEO of Taymax, says: “We are excited to have ClearLight Partners joining our team as we enter the next phase of our company’s growth. The partnership with ClearLight will allow us to accelerate the growth of our business as we seek to continue to aggressively develop new locations. We remain committed to the Planet Fitness vision of providing excellent customer service and the most comfortable atmosphere in the health club industry.”
Josh Mack, a Principal at ClearLight, says: “We are thrilled to be joining the Planet Fitness team. We believe Planet Fitness offers the most compelling value proposition in the fitness industry today and Taymax is well positioned to capitalize on the growth opportunities in this industry.”
Michael S Kaye, Managing Partner at ClearLight, says: “We are impressed with the great job that Kyle Nagel and his partner Tim Kelleher have done in bringing the Planet Fitness concept to San Antonio and Nashville. We are excited to partner with them to continue to further expand the company’s footprint.”
ClearLight completed the transaction in partnership with Riveria investment Group, a New York City-based private equity group.
