Private equity firm ClearLight Partners has sold Taymax Group Holdings (Taymax) to Trilantic North America for an undisclosed sum.
Based in Salem, New Hampshire, Taymax is one of the largest and fastest-growing franchisees in the Planet Fitness system. Taymax owns and operates more than 50 Planet Fitness clubs in the greater San Antonio, Corpus Christi, Nashville, Pittsburgh, Sacramento, Toronto and Ottawa regions. Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centres in the United States by number of members and locations. Its mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which it calls the Judgement Free Zone.
ClearLight invested in Taymax in 2013 and, in partnership with Taymax’s management team, supported the growth of the company. During ClearLight’s ownership, Taymax grew from 12 to over 50 Planet Fitness clubs and became a leading franchisee, being recognized as Franchisee of the Year and twice as Developer of the Year. “Taymax achieved fantastic success because of its talented, committed team and the strength of the Planet Fitness model. The Taymax team is exceptionally hard working and a great group of people to work with. It was very rewarding to have an exceptional outcome and genuinely have fun with the management team along the way,” says Josh Mack, a Partner at ClearLight.
“ClearLight made us a better company. They provided the support we needed to grow from 12 to 52 clubs in less than five years. I’m thankful for their guidance – Taymax is well positioned to continue growing as a result,” says Tim Kelleher, President of Taymax. “I’m excited to continue leading Taymax and bring the Judgement Free Zone to more and more communities.”
“We are very proud of Tim Kelleher, the rest of the team at Taymax and of their many accomplishments. We look forward to seeing Tim and Taymax achieve continued success under Trilantic North America’s ownership,” says Michael Kaye, Managing Partner of ClearLight.
ClearLight was advised by Harris Williams and Kirkland & Ellis, LLP.