Morgan Stanley (NYSE:MS)
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6 Months : From Apr 2019 to Oct 2019
By Colin Kellaher
A private-equity arm of Morgan Stanley (MS) on Tuesday said it acquired gym operator Impact Fitness from Bain Capital and Bridges Fund Management for an undisclosed amount.
Morgan Stanley Capital Partners, a middle-market focused private-equity team within Morgan Stanley Investment Management, said it acquired Impact in partnership with the gym operator's management team.
Impact, based in Brighton, Mich., is a Planet Fitness franchisee that operates 29 gyms in the U.S. and Canada.
Bain acquired a majority stake in Impact in 2017 in one of the first deals for Bain Capital Double Impact, the private-equity firm's socially conscious investment fund.
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(END) Dow Jones Newswires
June 11, 2019 09:36 ET (13:36 GMT)
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