Great Hill Partners has acquired yoga studio chain YogaWorks. No financial terms were disclosed.
July 18, 2014 – Boston, MA and Santa Monica, CA – YogaWorks, the largest yoga studio operator offering multiple disciplines of yoga instruction, announced today that is has been acquired by Great Hill Partners, a Boston-based private equity firm with over $3 billion under management. Originally founded in Santa Monica, CA in 1987, today YogaWorks operates 29 studios across four markets, a robust interactive online platform,MyYogaWorks, and a best-in-class Teacher Training Program.
“At YogaWorks, we believe that yoga is for everyone and that our mission is to offer the highest quality yoga programs to people of all ages and walks of life.” said Phil Swain, CEO of YogaWorks. “We are excited to partner with Great Hill Partners to help us bring YogaWorks to an even broader audience.”
President and COO Jay DeCoons added, “Based on Great Hill’s past experience helping to grow branded, consumer-oriented businesses, we believe GHP is the ideal partner to help us with the next phase of YogaWorks’ growth.”
Michael Kumin of Great Hill Partners commented, “The breadth and depth of YogaWorks’ studio and online offerings provide a compelling value proposition to consumers and the Company’s Teacher Training Program is the gold-standard in the industry.” Peter Garran added, “We are pleased to partner with Phil, Jay and the entire YogaWorks team and look forward to supporting the Company in its continued expansion.”
About Great Hill Partners
Great Hill Partners is a private equity firm that manages more than $3 billion in capital to finance the expansion, recapitalization or acquisition of growth companies in a wide range of sectors within the business and consumer services, media, communications and software industries. Great Hill targets investments of $25 million to $150 million. For more information, please visit www.greathillpartners.com.
YogaWorks is the leading provider of progressive and quality yoga in the US, with locations in Los Angeles, Northern California, New York and Orange County. Delivering innovative programming that promotes total physical and emotional well-being YogaWorks caters to students of all levels and ages with both traditional and innovative programming. It is also an international teaching school, cultivating the richest yoga talent around the globe and setting the gold standard for teaching. For more information on YogaWorks, visit www.yogaworks.com or facebook.com/yogaworks.