Walsh joins three decades of groundbreaking
entrepreneurs.
EY announced that Patrick Walsh, Chairman and Chief
Executive of Town Sports International Holdings Inc., (“TSI,” “Town
Sports” or the “Company”) (NASDAQ:CLUB)
received the Entrepreneur Of The Year® 2018 Award in the
Transformational category in New York. Entrepreneur of The
Year is the world’s most prestigious business award for
entrepreneurs, and it’s the only competitive awards program for
leaders of high-growth companies. To be eligible, nominees must be
the manager or owner of a private or public company and be
primarily responsible for the company’s recent
performance. Walsh was selected by an independent panel
of judges, and the award was presented
at a special gala event at the Marriott
Marquis on June 12.
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Patrick Walsh, EY Entrepreneur Of The
Year(R) 2018 New York Award Winner (Photo: Business Wire)
“I think Entrepreneurs are the lifeblood of this country and
it’s great to be recognized,” said Walsh in his acceptance speech.
“To all the TSI employees, you are amazing and no one can
take this away from us. I’ve had the time of my life so far
but I’m more excited about what we’re going to do in the years
ahead."
Mr. Walsh has played a major role in several turnarounds, but
none have been as remarkable as Town Sports’. Walsh was faced
with imminent bankruptcy in the first year he took over management
of the Company. During a period when most industry expects
predicted a bankruptcy or sale, Walsh vowed
to TSI shareholders to turn TSI into a thriving
enterprise. In 2018, the company’s stock traded over $11.00 an
increase of over 1000% from a low of 92 cents in 2016.
Walsh has led a strategic and calculated approach to
increasing shareholder value while growing the Company’s portfolio.
In just the past year, TSI has purchased Lucille Roberts,
Total Woman Gym and Spa and TMPL Gym.
Since 1986, EY has honored entrepreneurs whose ingenuity, spirit
of innovation and discipline have driven their companies’ success,
transformed their industries and made a positive impact on their
communities. Now in its 32nd year, the program has honored the
inspirational leadership of such entrepreneurs as:
- Howard Schultz of Starbucks
Corporation
- Pierre Omidyar of eBay, Inc.
- Reid Hoffman and Jeff Weiner of
LinkedIn
- Jeff Bezos of Amazon.com, Inc.
As a New York award winner, Walsh is now eligible for
consideration for the Entrepreneur Of The Year 2018 national
program. Award winners in several national categories, as well as
the Entrepreneur Of The Year National Overall Award winner, will be
announced at the Entrepreneur Of The Year National Awards gala in
Palm Springs, California, on November 10, 2018. The awards are the
culminating event of the Strategic Growth Forum™, the nation’s most
prestigious gathering of high-growth, market-leading companies.
Sponsors
Founded and produced by EY, the Entrepreneur Of The Year Awards
are nationally sponsored in the US by SAP America, Merrill
Corporation and the Ewing Marion Kauffman Foundation.
In New York, sponsors also include Marsh, Empire Valuation
Consultants, Kirkland & Ellis LLP, Pine Hill Group, DLA Piper
and SolomonEdwards Group.
About Entrepreneur Of The Year®
Entrepreneur Of The Year®, founded by EY, is the world’s most
prestigious business awards program for entrepreneurs, chosen from
an independent panel of judges including entrepreneurs and
prominent leaders from business, finance, and the local community.
The program makes a difference through the way it encourages
entrepreneurial activity among those with potential and recognizes
the contribution of people who inspire others with their vision,
leadership and achievement. As the first and only truly global
awards program of its kind, Entrepreneur Of The Year celebrates
those who are building and leading successful, growing and dynamic
businesses, recognizing them through regional, national and global
awards programs in more than 145 cities in more than 60 countries.
ey.com/eoy
About EY’s Growth Markets Network
EY’s worldwide Growth Markets Network is dedicated to serving
the changing needs of high-growth companies. For more than 30
years, we’ve helped many of the world’s most dynamic and ambitious
companies grow into market leaders. Whether working with
international mid-cap companies or early stage, venture-backed
businesses, our professionals draw upon their extensive experience,
insight and global resources to help your business succeed. For
more information, please visit us at ey.com/sgm or follow news on
Twitter @EY_Growth.
About EY
EY is a global leader in assurance, tax, transaction and
advisory services. The insights and quality services we deliver
help build trust and confidence in the capital markets and in
economies the world over. We develop outstanding leaders who team
to deliver on our promises to all of our stakeholders. In so doing,
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EY refers to the global organization, and may refer to one or
more, of the member firms of Ernst & Young Global Limited, each
of which is a separate legal entity. Ernst & Young Global
Limited, a UK company limited by guarantee, does not provide
services to clients. For more information about our organization,
please visit ey.com.
This news release has been issued by Ernst & Young LLP, a
member of the global EY organization that provides services to
clients in the US.
For more information, please visit ey.com.
About Town Sports International Holdings, Inc.
Town Sports International Holdings, Inc. is a diversified
holding company with subsidiaries engaged in a number of business
and investment activities. The Company’s largest operating
subsidiary has been involved in the fitness industry since 1973 and
has grown to become one of the largest owners and operators of
fitness clubs in the Northeast region of the United States. TSI’s
corporate structure provides flexibility to make investments across
a broad spectrum of industries in order to create long-term value
for shareholders.
For more information, please visit
townsportsinternational.com.
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