Taymax Group Holdings LP, which is backed by Trilantic North America, has acquired Southfit, a Planet Fitness franchisee. No financial terms were disclosed. Taymax operates nearly 90 Planet Fitness health clubs in the greater San Antonio, Nashville, Huntsville, Jacksonville, Pittsburgh, Sacramento, Toronto, western Ontario and Ottawa regions.
NEW YORK & SALEM, N.H.– Taymax Group Holdings, LP (“Taymax” or the “Company”), one of the largest Planet Fitness franchisees, today announced its acquisition of the Planet Fitness franchisee group consisting of Southfit Holdings, LLC, PF Jax Three, LLC and PF Jax Four, LLC (collectively, “Southfit”). Southfit serves close to 75,000 members and employs a staff of approximately 230 across 14 clubs in the Jacksonville, Florida and southeastern Georgia regions.
The acquisition brings Taymax’s footprint to approximately 90 clubs and highlights the Company’s dedication to partnering with other Planet Fitness franchisees to bring their clubs onto the Taymax platform. In 2018, Taymax received a strategic growth investment by private equity firm Trilantic North America to support investments in the Company’s infrastructure, systems and M&A initiatives to drive continued growth.
“The addition of Southfit to the Taymax platform demonstrates our firm commitment to bringing a non-intimidating, high-value, low-price fitness experience to more members across the United States and beyond,” said Tim Kelleher, co-founder and CEO of Taymax. “The acquisition adds to our growing presence in the Southeastern United States along with our already existing clubs in Tennessee and Alabama.”
“We are excited to partner with Tim, the Taymax team and Trilantic as they continue to grow Taymax’s platform across North America,” added Mike Murray, co-founder of Southfit.
Taymax was founded in 2009 and has grown from one club to nearly 90 locations across the greater San Antonio, Nashville, Huntsville, Jacksonville, Pittsburgh, Sacramento, Toronto, western Ontario and Ottawa markets. Taymax has been recognized as the Planet Fitness system Developer of the Year twice in the last four years and Franchisee of the Year in 2018.
Planet Fitness, one of the fastest-growing health club franchises in North America, is known for providing a high-quality, low-price fitness experience in a welcoming, non-intimidating environment, called the Judgement Free Zone®. As of June 30, 2019, Planet Fitness had more than 14 million members and 1,859 stores in 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic, Panama and Mexico.
The MFA Companies acted as the financial advisor to Southfit on the transaction and Gravel & Shea PC served as its legal advisor. Kirkland & Ellis LLP provided legal advice to Taymax.
About Taymax Group Holdings, LP
Founded in 2009, Taymax is one of the largest and fastest growing franchisees within the Planet Fitness system. The Company has been recognized as Planet Fitness Developer of the Year in two of the last four years and Franchisee of the Year in 2018. Taymax operates nearly 90 Planet Fitness health clubs in the greater San Antonio, Nashville, Huntsville, Jacksonville, Pittsburgh, Sacramento, Toronto, western Ontario and Ottawa regions. The Company is very active in community work in its markets, donating to organizations such as the Boys and Girls Clubs of America, the San Antonio Food Bank and other important local causes.
About Trilantic North America
Trilantic Capital Management L.P. (“Trilantic North America”) is a private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the business services, consumer, and energy sectors. Trilantic North America currently manages six private equity fund families with aggregate capital commitments of $9.6 billion. Trilantic North America has been recognized by Inc. Magazine’s 2019 list of Top 50 Founder-Friendly Private Equity Firms. For more information, visit www.trilanticnorthamerica.com.
About Planet Fitness
Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of June 30, 2019, Planet Fitness had more than 14 million members and 1,859 stores in 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic, Panama and Mexico. The Company’s mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®. More than 95% of Planet Fitness stores are owned and operated by independent business men and women.