Snap Fitness, Inc. (“Snap”), one of the world’s leading health and wellness brands with approximately 2,000 clubs open or under development in 15 countries, announced that it has taken on an investment from TZP Capital Partners II, L.P. (“TZP”), a private equity fund focused on investments in U.S.-based lower middle market business and consumer services companies.
“This new investment positions us to build on the dramatic success we have enjoyed over the last few years. Going forward, we couldn’t have a better partner than TZP,” said Peter Taunton, Founder, President and CEO of Snap. “With more than a million members in 15 countries and 20-25 new clubs added monthly, we feel confident that the future of health and wellness will be driven by no-contract, 24/7 programs like ours—programs that balance best-in-class fitness products with cutting-edge nutritional consultation while offering guaranteed results. This is an exciting time for us.”
In addition to strong brands with attractive offerings, Taunton attributes the firm’s stellar growth to the response of the business community. “Making the transition to owning a business as easy as possible and making financing available to prospective franchisees will continue to be an important part of our strategy.”
“We are thrilled that Peter chose to partner with the TZP team in our first investment by TZP Capital Partners II. Snap Fitness is a recognized leader in the health and wellness marketplace and we believe that the company’s platform will allow it to continually enhance its current family of fitness brands, as well as develop new health and wellness brands for its customer base,” said TZP’s Managing Partner, Samuel L. Katz. “With an extremely strong management team led by Peter and our significant expertise in helping to grow multiple franchised brands, we believe we can build on Snap’s strong foundation of high quality, targeted fitness concepts that provide franchisees with a compelling reason to be independent business owners within the Snap Fitness system.”
January 9, 2014