Harris Williams Advises United PF Partners on Its Sale to American Securities
January 06 2020 - 12:08PM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces that it advised United PF
Partners (United PF), a portfolio company of JLM Financial Partners
(JLM) and Eagle Merchant Partners, on its sale to affiliates of
American Securities LLC. Headquartered in Austin, Texas, United PF
is the largest and fastest-growing area developer within the Planet
Fitness system. The transaction was led by Ryan Budlong, John
Neuner, Ed Arkus, Zach England and Bernardo Villar of the Harris
Williams Consumer Group.
“We are extremely excited to have represented United PF on its
sale to American Securities,” said Ryan Budlong, a managing
director at Harris Williams. “Founder and CEO Trey Owen and his
team have built one of the fastest-growing platforms across the
fitness industry and a leading platform within the Planet Fitness
system.”
“This transaction marks another marquee transaction in the
fitness sector for Harris Williams,” said Zach England, a vice
president at Harris Williams. “We continue to see incredible
appetite across the buyer community to invest in the fitness
industry.”
Headquartered in Austin, Texas, United PF serves more than 1
million members across more than 160 locations in 14 states. United
PF was founded in November 2016 through the consolidation of five
leading Planet Fitness franchisee groups. It has nearly tripled its
club count through a successful organic and M&A growth
strategy.
Planet Fitness is one of the largest and most prolific
franchisors of fitness centers in the United States. As of
September 30, 2019, Planet Fitness had more than 14.1 million
members and 1,899 clubs in the 50 states, the District of Columbia,
Puerto Rico, Canada, the Dominican Republic, Panama and Mexico. The
company’s mission is to enhance people’s lives by providing a
high-quality fitness experience in a welcoming, non-intimidating
environment, called the Judgment Free Zone®.
JLM is a private investment firm based in Austin, Texas. JLM
focuses on multi-unit and scalable businesses with strong
management teams and has a primary focus on companies in health and
wellness, beauty, lifestyle/entertainment and recreation.
Eagle Merchant Partners is an Atlanta, Georgia-based private
equity firm focused on lower-middle market companies in the
multi-unit consumer, and industrial and related service sectors
primarily in the Southeastern United States. The partnership is one
of the most experienced private equity investors in the region,
investing over $1.2 billion in 18 companies with more than $1.5
billion in revenues.
Based in New York with an office in Shanghai, American
Securities is a leading U.S. private equity firm that invests in
market-leading North American companies with annual revenues
generally ranging from $200 million to $2 billion and/or $50
million to $250 million of EBITDA. American Securities and its
affiliates have approximately $23 billion under management.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Consumer Group has completed more than 60
transactions in recent years across a variety of verticals,
including branded consumer products; consumer services; food,
beverage and agribusiness; and restaurant and retail. For more
information on the Harris Williams Consumer Group and other recent
transactions, visit the Consumer Group’s section of the Harris
Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
For media inquiries, please contact Katie Langemeier, associate
brand manager, at +1 (804) 915-0179.
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version on businesswire.com: https://www.businesswire.com/news/home/20200106005803/en/
Katie Langemeier, associate brand manager, +1 (804) 915-0179
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