Olympus acquires Planet Fitness franchisee Excel

Olympus Partners has acquired Austin-based Excel Fitness Holdings LLC, a Planet Fitness franchisee. No financial terms were disclosed.

PRESS RELEASE

STAMFORD, Conn., April 29, 2022 /PRNewswire/ — Stamford, CT based private equity firm Olympus Partners has acquired Excel Fitness Holdings, LLC (“Excel”), a Planet Fitness franchisee serving six markets including Austin, Dallas Ft-Worth, Northwest Arkansas, Raleigh-Durham, Tulsa, and Virginia. Excel Fitness is headquartered in Austin, Texas and operates over 90 Planet Fitness locations serving nearly 750,000 members at the time of acquisition.

“The Planet Fitness brand has done an incredible job cultivating a welcoming environment for the large percentage of the population who have never belonged to a gym or find traditional gym settings intimidating. We are thrilled to be partnering with Excel management who we believe has developed one of the premier franchisees by marrying the proven Planet Fitness concept with exceptional customer service and operational excellence,” said Matt Boyd, Principal at Olympus. “We look forward to our partnership with CJ and the rest of the Excel team as we further expand the Company’s presence in its core markets and beyond.”

CJ Bouchard, CEO of Excel, added, “Our team is extremely excited to partner with the Olympus team as we continue growing our business, building communities through fitness and bringing the Judgement Free Zone to new members.”

“We are in many of the highest growth markets in the U.S. and this gives us the opportunity to expand our footprint through development and marketing,” said CJ Bouchard. The Excel team plans to operate over 100 locations by the end of 2022 with 80 clubs left to build.

The Olympus team included Paul Rubin, Matt Boyd, Matt Bujor and Sid Ahuja. Olympus was represented by Matt Goulding and Alexandra Dayneka-Hayes from Kirkland & Ellis and the Company was advised by Ryan Budlong and Zach England from Harris Williams.

About OLYMPUS PARTNERS
Founded in 1988, Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries including business services, consumer products, healthcare services, financial services, industrial services, and manufacturing. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.