Olympus-backed Excel Fitness buys 14 Planet Fitness locations in Virginia

This deal brings Excel's club count to 107 and includes development rights to bring 6 more locations to the Virginia market over the next five years.

  • As of June 30, 2022, Planet Fitness had more than 16.5 million members and 2,324 stores in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia
  • Founded in 1988, Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs
  • Olympus Partners acquired Excel Fitness in April 2022

Excel Fitness, a franchisee of Planet Fitness, has acquired 14 Planet Fitness locations in the Hampton Roads region of Eastern Virginia. The seller is KSMA group. No financial terms were disclosed.

This deal brings Excel’s club count to 107 and includes development rights to bring 6 more locations to the Virginia market over the next five years.

KSMA was established in 2006 by the Ryders, who grew their family business from a single location to 14 locations throughout Eastern Virginia and Northern North Carolina.

“Today’s an incredible day for both organizations and everyone that’s been a part of our PF family for the past 16 years,” said Sharree Ryder, co-owner of KSMA, in a statement. “We’re excited to announce that we’ve joined forces with Excel Fitness and together, we’ll build more locations and expand to new regions, providing more opportunities for our teams to grow,” said Ken Ryder, co-owner of KSMA.

Excel Fitness has opened 5 new locations in 2022 and is in development for multiple locations, including a new club in Williamsburg, VA.

Planet Fitness is a franchisor and operator of fitness centers based in Hampton, New Hampshire. As of June 30, 2022, Planet Fitness had more than 16.5 million members and 2,324 stores in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia.

Olympus Partners acquired Excel Fitness in April 2022, a Planet Fitness franchisee serving seven markets including Austin, Dallas Ft-Worth, Northwest Arkansas, Raleigh-Durham, Tulsa, Virginia, and Utah. Excel Fitness is headquartered in Austin, Texas and now operates over 100 Planet Fitness locations with over 850,000 members.

Excel Fitness Holdings is a leading Planet Fitness franchise group based in the Austin area with over 100 locations across Texas, Oklahoma, Arkansas, Missouri, North Carolina, and Virginia.

Founded in 1988, Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.