Anytime Fitness, the world’s largest and fastest-growing co-ed fitness franchise, today announced that an affiliate of Roark Capital Group, an Atlanta-based private equity firm
that focuses on investing in the franchise industry, has made an equity investment in the company.Terms were not disclosed.
Anytime Fitness (www.anytimefitness.com), which ranked No. 1 on Entrepreneur magazine’s 2014
annual Franchise 500® list, has opened at least 250 new clubs each year for the last six years. The fitness franchise now has more than 2,400 clubs located in 19 countries on five continents, serving 2 million members. Open 24 hours a day, 365 days a year, Anytime Fitness prides itself on providing its members with convenient, affordable fitness options combined with a “surprisingly personable” experience. Anytime Fitness, through its parent company, Self Esteem Brands is also franchising Waxing the City (www.waxingthecity.com), a personal services franchise brand it acquired in 2012 and projected to grow to 100+ studios in the next 3 years.
Anytime Fitness and Roark Capital Group (www.roarkcapital.com) said the investment would help Anytime Fitness accelerate U.S. and global expansion, capitalizing on the company’s robust growth rate and global consumer interest in fitness and health clubs.
“We’ve been contacted by dozens of private equity firms over the years who have wanted to invest in the company,” said Chuck Runyon, CEO and co-founder, Anytime Fitness. “We’ve been extremely selective in seeking the right partner with a strategic and cultural fit. Roark is the preeminent private equity firm in franchising. They understand our philosophy and value the importance of supporting profitable and happy franchisees.” Runyon added, “Roark will help us improve system-wide performance, grow internationally and assist us in building our health and wellness platform.”
The Anytime Fitness management team, including Runyon and President and co-founder Dave Mortensen, will continue to lead and operate the company. Roark Capital Managing Directors Erik Morris and Steve Romaniello have joined the Anytime Fitness board of directors and will provide strategic counsel and operational support.
Roark Capital Group is also selective about the companies in which it invests, seeking industry leading franchise brands with attractive growth prospects. The Anytime Fitness investment represents Roark’s 31st investment in a franchise, multi-unit brands that collectively have nearly 18,000 locations and $16 billion in system wide revenues across 50 states and 71 countries.
“Chuck and Dave have built a terrific business with an incredibly strong culture. We are thrilled to be partnering with such a great company and talented team of people,” Morris said.
The past two years in a row, Anytime Fitness has been ranked the #1 “Best company to work for” by Minnesota Business magazine.
Dave Mortensen, Anytime Fitness President and co-founder noted, “This is an important point in our history and the investment and expertise in franchising that Roark brings to the relationship will help us get to the next level in our growth plans.”
Romaniello added, “As a result of an innovative and differentiated consumer proposition and a
commitment to thoughtful growth through franchising, Anytime Fitness has become a leader in its industry. We look forward to supporting the continued success of the Anytime Fitness brand.”
March 3, 2014