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Vision Capital and New Evolution Ventures to create multi-brand health, fitness and wellness business

New Evolution Ventures, LLC (NeV), a developer and operator of health and fitness brands, and international investor Vision Capital, have formed a global investment partnership focused on the health, fitness and wellness industries, encompassing multiple brands that incorporate health clubs as well as nutrition, media, content and technology.

The strategy of the NeV – Vision partnership is to continue to invest in and develop the existing NeV brand portfolio as well as to make additional targeted investments in the health, wellness and fitness sector. NeV was founded in 2008 by Mark Mastrov and former 24 Hour Fitness executives Jim Rowley and Mike Feeney to focus on building, operating and investing in innovative brands and businesses within the health, wellness and fitness industries. Prior to NeV, Mark founded 24 Hour Fitness Worldwide in 1983, which he grew to the world’s largest fitness company with more than 420 clubs in the United States and Asia and revenues in excess of USD1.5 billion at the time of its sale in 2005.

Mark Mastrov, Chairman of NeV, says: “We are excited about our new partnership with Vision Capital. Vision Capital brings an innovative approach to the private equity business and we believe they will be a fantastic partner for NeV as we continue to grow our existing brand portfolio and execute on new opportunities.”
Matt Constantino, Managing Partner of Vision Capital Americas, LLC, stated, “We welcome Mark Mastrov and the exceptional team at NeV to this partnership at Vision. Their track record sets them apart as the best team in the global health and fitness industry, and with our shared commitment to innovation, we see tremendous potential for this portfolio.”

The investment in NeV marks the continuation of Vision Capital’s growth in the United States. Other investment activity in the Americas has included its September 2010 acquisition of Terphane, the leading manufacturer of speciality polyester films in Latin America, together with other hotel and industrial investments.

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