Monogram Capital takes controlling stake in Planet Fitness franchisee


Monogram Capital Partners has acquired a controlling stake in Atlantic Holdings, a Planet Fitness franchisee. No financial terms were disclosed.

PRESS RELEASE

Los Angeles, Calif. October 30, 2017—Monogram Capital Partners, a Los Angeles-based private equity firm focused exclusively on consumer and retail investments, announced the purchase of a controlling interest in Atlantic Holdings, a newly-formed entity representing a leading franchisee in the Planet Fitness system. Terms of the transaction were not disclosed.

Founded in 1992, Planet Fitness (NYSE: PLNT) is one of the largest and fastest-growing franchisors and operators of fitness centers in the US by number of members (10 million+) and locations (1,400+). More than 95% of Planet Fitness clubs are owned and operated by independent franchisees. Atlantic Holdings operates 14 Planet Fitness health clubs with the rights to continue to develop the areas of Miami-Dade and Broward counties in South Florida and the Central California region from Santa Barbara to Fresno. Founded by David Bidwell and Scott Linsky, Atlantic has been developing these areas since 2012, and now with Monogram’s support, has the opportunity to nearly quadruple its locations in the coming years in these regions.

Headquartered in Los Angeles, CA and founded in 2014, Monogram focuses exclusively on investing in emerging consumer and retail brands through both minority growth and control transactions. The firm seeks opportunities to partner with founders and strong management teams of high growth brands to help foster their next wave of growth. Atlantic Holdings represents the firm’s 12th investment across eight platform portfolio companies.

“We are extremely excited to be partnering with the Atlantic management team on this important next chapter of the company’s growth. Atlantic represents an attractive combination of an operating team that is executing at a very high level with the line-of-sight whitespace to scale their footprint significantly.” said Jared Stein, Founder & Partner at Monogram.

Atlantic Holdings’ Founders and Managing Partners, David Bidwell and Scott Linsky, added, “We are thrilled to be working with Monogram in large part due to their unique ability to bring both best in-class operational and financial expertise to bear. The next chapter of our company will be defined by accelerated strategic growth, requiring continued focus on our meticulous operational processes while simultaneously maintaining disciplined financial foundations. Monogram’s expertise in these areas will be pivotal in helping us with this next stage of our evolution.”

About Monogram Capital Partners
Headquartered in Los Angeles, CA and founded in 2014, Monogram Capital focuses exclusively on investing in emerging consumer and retail brands through both minority growth and control transactions. The firm seeks opportunities to partner with founders and strong management teams, investing $5-30 million of equity per transaction. The investment into Atlantic represents the firm’s twelfth investment across eight platform portfolio companies over the past three and a half years.

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