CI Capital acquires WTS

CI Capital has acquired Rockville, Maryland-based WTS International, a spa, wellness, and lifestyle consultancy and management firm. No financial terms were disclosed.

PRESS RELEASE

ROCKVILLE, Md. and NEW YORK, Oct. 31, 2019 /PRNewswire/ — CI Capital Partners (“CI Capital”), a New York-based private equity firm, and WTS International (“WTS”), a world leader in the spa and leisure industry, announced today that an affiliate of CI Capital has acquired a majority interest in WTS from the company’s management. The management team of WTS will continue to lead the company and is retaining significant equity ownership in the company. Terms of the transaction were not disclosed.

WTS provides management, consulting, and design services to various wellness facilities, including spas, fitness centers, and residential lifestyle facilities. The company’s clients include premier, award-winning hotels, fitness centers, residential communities, golf and country clubs, and other private recreation and leisure clubs. Since its founding in 1973 by Gary Henkin, WTS has expanded significantly to be an expert solutions provider for more than 100 facilities throughout the world. The company upholds a commitment to “Building Better Lifestyles” by optimizing the health and wellness experience available through its clients’ facilities.

“WTS has achieved remarkable growth and has maintained its leadership position in the spa, lifestyle, fitness, and wellness services industry,” stated WTS Founder & CEO Gary Henkin. “I am very proud of all that we have accomplished and am excited to continue the company’s growth trajectory through this partnership with CI Capital.”

“WTS is well-positioned to consolidate the fragmented wellness management and consulting sector,” said CI Capital Managing Director Zubin Malkani. “We are thrilled to have the opportunity to form a partnership with the management team of WTS and we look forward to what we can accomplish together.”

About WTS
Founded in 1973, WTS International is the world’s leading spa, wellness, and lifestyle consultancy and management firm. WTS’s clients are premier, award-winning spa, recreation, and wellness resort destinations, fitness centers, and community leisure facilities. Today, WTS provides feasibility studies, planning & design consultancy, pre-opening support, and daily management for spas, wellness and leisure facilities worldwide. Learn more at https://www.wtsinternational.com/

About CI Capital Partners
CI Capital Partners LLC is a leading North American private equity investment firm that has invested in middle-market companies since 1993. CI Capital forms partnerships with experienced management teams and entrepreneurs to build substantial businesses through add-on acquisitions, organic growth, and operational improvements. Since inception, CI Capital and its portfolio companies have made over 330 acquisitions representing approximately $10 billion in enterprise value. For more information on CI Capital Partners, please visit www.cicapllc.com.