Trilantic North America Acquires Majority Stake in Taymax Group Holdings, LLC
Aug. 01, 2018
NEW YORK--(BUSINESS WIRE)--Aug 1, 2018--Trilantic North America, a leading private equity firm, today announced that it has acquired a majority interest in Taymax Group Holdings, LLC (“Taymax” or the “Company”), one of the largest Planet Fitness franchisees with more than 50 club locations across the United States and Canada. Trilantic North America invested in partnership with Taymax’s co-founders, including CEO Tim Kelleher, and other key members of management.
Taymax was founded in 2009 with the acquisition of one club in the San Antonio market. Since then, the Company has grown organically to 52 clubs across the greater San Antonio, Nashville, Pittsburgh, Sacramento, Toronto and Ottawa markets. Taymax has been recognized as the Planet Fitness system Developer of the Year in two of the last three years and Franchisee of the Year in 2018.
Planet Fitness, one of the fastest-growing health club franchises in the country, is known for providing a high-quality, low-price fitness experience in a welcoming, non-intimidating environment, called the Judgement Free Zone®. As of March 31, 2018, Planet Fitness had approximately 11.8 million members and more than 1,565 stores in 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic and Panama.
“Tim has done a remarkable job building Taymax into one of the premier franchisees in the Planet Fitness system and has assembled an impressive management team to support the continued growth of the platform,” said Grant Palmer, Partner at Trilantic North America. “We are excited to partner with the management team through the next phase of the Company’s development, and believe that Taymax and the broader Planet Fitness system will continue to benefit from secular trends around health and wellness, a key theme across several of Trilantic North America’s consumer investments.”
“We look forward to working with the Trilantic North America team, whose success in collaborating with founders and entrepreneurs makes them an ideal partner to execute our shared vision,” said Mr. Kelleher. “We are excited to drive continued growth by both investing in our current clubs and expanding the Taymax footprint in new and existing markets.”
Harris Williams acted as the exclusive financial advisor to Taymax on the transaction and Kirkland & Ellis LLP served as its legal advisor. Kirkland & Ellis LLP provided legal advice to Trilantic North America.
About Trilantic North America
Trilantic Capital Management L.P. ("Trilantic North America") is a private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the business services, consumer, and energy sectors. Trilantic North America currently manages six private equity fund families with aggregate capital commitments of $8.4 billion. For more information, visit www.trilanticnorthamerica.com.
About Taymax Group Holdings, LLC
Founded in 2009, Taymax is one of the largest and fastest growing franchisees within the Planet Fitness system. The Company has been recognized as Planet Fitness Developer of the Year in two of the last three years and Franchisee of the Year in 2018. Taymax operates 52 Planet Fitness health clubs in the greater San Antonio, Nashville, Pittsburgh, Sacramento, Toronto and Ottawa regions. The Company is very active in community work in its markets, donating to organizations such as the Boys and Girls Clubs of America, the San Antonio Food Bank and other important local causes.
About Planet Fitness
Founded in 1992 in Dover, N.H., Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of March 31, 2018, Planet Fitness had approximately 11.8 million members and more than 1,565 stores in 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic and Panama. Planet Fitness's mission is to enhance people's lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®. More than 95% of Planet Fitness stores are owned and operated by independent business men and women.
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CONTACT: Prosek Partners
Mariel Seidman-Gati, 917-722-8293
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: OTHER SPORTS HEALTH FITNESS & NUTRITION GENERAL SPORTS PROFESSIONAL SERVICES FINANCE SPORTS GENERAL HEALTH
SOURCE: Trilantic North America
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PUB: 08/01/2018 09:00 AM/DISC: 08/01/2018 09:02 AM