Harris Williams Advises Excel Fitness Holdings on its Sale to Olympus Partners
May 02 2022 - 10:53AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised Excel Fitness
Holdings (Excel Fitness), a portfolio company of Altamont Capital
Partners (Altamont), on its sale to Olympus Partners (Olympus).
Excel Fitness is one of the country’s largest Planet Fitness
franchisees. The transaction was led by Ryan Budlong, Zach England
and Grant Shin of the Harris Williams Consumer Group.
“The Excel Fitness team, in partnership with Altamont, has built
a differentiated Planet Fitness platform that will continue to
benefit from exceptional leadership, a strong post-COVID-19
recovery, and increased consumer focus on health and wellness,”
said Ryan Budlong, a managing director at Harris Williams.
“The Excel Fitness transaction marks the continued return of
large-scale transactions in the fitness industry and a renewed
focus on long-term growth prospects in the ‘High Value, Low Price’
sector. As member levels and new club openings continue to return
to and exceed pre-COVID-19 levels, investors are increasing their
focus on the sector,” added Zach England, a director at Harris
Williams.
Excel Fitness is a leading Planet Fitness franchise group based
in the Austin, Texas area with over 90 locations across Texas,
Oklahoma, Arkansas, Missouri, North Carolina, and Virginia. Excel
Fitness has built a team culture that focuses on elevating the
member experience by developing exceptional fitness clubs and
delivering world-class customer service. The team is passionate
about building communities through fitness and supporting their
local markets through employment and membership opportunities that
positively impact lives.
Founded in 1992 in Dover, New Hampshire, 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 December 31, 2021, Planet Fitness had 15.2 million
members and 2,254 stores in 50 states, Washington, D.C., Puerto
Rico, Canada, Panama, Mexico, and Australia. The company's mission
is to enhance people's lives by providing a high-quality fitness
experience in a welcoming, non-intimidating environment, which
Planet Fitness calls the Judgement Free Zone®. More than 90% of
Planet Fitness stores are owned and operated by independent
business men and women.
Altamont is a private investment firm based in the San Francisco
Bay Area with more than $4 billion of assets under management.
Altamont is focused on investing in middle market businesses where
it can partner with leading management teams to help its portfolio
companies reach their full potential. The firm’s principals have
significant experience building business success stories across a
range of industries, including consumer, restaurants and
multi-unit, financial services, healthcare, industrials, and
business services.
Olympus is a private equity firm focused on providing equity
capital for middle market management buyouts and for companies
needing capital for expansion. Olympus manages in excess of $8.5
billion mainly on behalf of corporate pension funds, endowment
funds and state-sponsored retirement programs. Founded in 1988,
Olympus is an active, long-term investor across a broad range of
industries including business services, consumer products,
healthcare services, financial services, industrial services, and
manufacturing.
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 transactions
across a variety of verticals, including food, beverage and
agribusiness; branded consumer products; consumer services; and
restaurant and retail. For more information on the Harris Williams
Consumer Group and 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 8th Floor, 20 Farringdon Street, London EC4A 4AB, 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.
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For media inquiries, please contact Julia Moore at
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