Private equity firms acquire 17 Planet Fitness locations

Private equity firms acquire 17 Planet Fitness locations.

Two private firms have purchased 17 Planet Fitness locations in upstate New York, making the partnership the largest Planet Fitness franchisee in the country.Exaltare Capital Partners, a private equity firm based in Boston, Massachusetts, and Brightwood Capital Advisors, a private investment firm in New York City, announced the acquisitions today.ECP-PF Holding Group now owns 52 locations in New York, Connecticut and New Mexico. The group purchased the 17 locations from Planet Fitness franchisee and owner David Leon, who has joined ECP-PF. Leon will be the president of the New York Divison, which will be headquartered in Rotterdam.

Leon, a former bodybuilder, has operated under Planet Fitness name since 2004. He has owned health clubs in upstate New York since 1989. Last year, Leon told the Albany Business Review he wanted to open more Planet Fitness clubs in the western United States and explained how he got involved with Planet Fitness.Planet Fitness is a fast-growing health club chain based in Dover, New Hampshire. Planet Fitness has the largest membership in the Albany area, with more than 101,000 members. Planet Fitness offers $10 a month memberships with clubs marketed as “judgement-free zones” where all fitness levels are welcome.

Planet Fitness locations in the area include sites in Loudonville, Rotterdam, Glenmont, Clifton Park, East Greenbush, Queensbury, Saratoga, Troy and Amsterdam.