Morgan Stanley Capital Partners Acquires Impact Fitness

Date : 06/11/2019 @ 2:51PM
Source : Dow Jones News
Stock : Morgan Stanley (MS)
Quote : 42.25  0.0 (0.00%) @ 1:00AM

Morgan Stanley Capital Partners Acquires Impact Fitness

Morgan Stanley (NYSE:MS)
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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.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

June 11, 2019 09:36 ET (13:36 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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