Welcome!

News Feed Item

Anytime Fitness Receives Investment from Roark Capital Group

Leading Fitness Franchise Seeks to Accelerate Worldwide Growth

HASTINGS, Minn., March 3, 2014 /PRNewswire/ -- Anytime Fitness, the world's largest and fastest-growing co-ed fitness franchise, today announced that an affiliate of Roark Capital Group, an Atlanta-based private equity firm that focuses on investing in the franchise industry, has made an equity investment in the company.  Terms were not disclosed.

Anytime Fitness logo

Anytime Fitness (www.anytimefitness.com), which ranked No. 1 on Entrepreneur magazine's 2014 annual Franchise 500® list, has opened at least 250 new clubs each year for the last six years. The fitness franchise now has more than 2,400 clubs located in 19 countries on five continents, serving 2 million members.  Open 24 hours a day, 365 days a year, Anytime Fitness prides itself on providing its members with convenient, affordable fitness options combined with a "surprisingly personable" experience.  Anytime Fitness, through its parent company, Self Esteem Brands is also franchising Waxing the City (www.waxingthecity.com), a personal services franchise brand it acquired in 2012 and projected to grow to 100+ studios in the next 3 years.

Anytime Fitness and Roark Capital Group (www.roarkcapital.com) said the investment would help Anytime Fitness accelerate U.S. and global expansion, capitalizing on the company's robust growth rate and global consumer interest in fitness and health clubs.        

"We've been contacted by dozens of private equity firms over the years who have wanted to invest in the company," said Chuck Runyon, CEO and co-founder, Anytime Fitness.   "We've been extremely selective in seeking the right partner with a strategic and cultural fit.  Roark is the preeminent private equity firm in franchising.  They understand our philosophy and value the importance of supporting profitable and happy franchisees."  Runyon added, "Roark will help us improve system-wide performance, grow internationally and assist us in building our health and wellness platform."

The Anytime Fitness management team, including Runyon and President and co-founder Dave Mortensen, will continue to lead and operate the company.  Roark Capital Managing Directors Erik Morris and Steve Romaniello have joined the Anytime Fitness board of directors and will provide strategic counsel and operational support.

Roark Capital Group is also selective about the companies in which it invests, seeking industry leading franchise brands with attractive growth prospects.  The Anytime Fitness investment represents Roark's 31st investment in a franchise, multi-unit brands that collectively have nearly 18,000 locations and $16 billion in system wide revenues across 50 states and 71 countries.

"Chuck and Dave have built a terrific business with an incredibly strong culture.  We are thrilled to be partnering with such a great company and talented team of people," Morris said.

The past two years in a row, Anytime Fitness has been ranked the #1 "Best company to work for" by Minnesota Business magazine.

Dave Mortensen, Anytime Fitness President and co-founder noted, "This is an important point in our history and the investment and expertise in franchising that Roark brings to the relationship will help us get to the next level in our growth plans." 

Romaniello added, "As a result of an innovative and differentiated consumer proposition and a commitment to thoughtful growth through franchising, Anytime Fitness has become a leader in its industry.  We look forward to supporting the continued success of the Anytime Fitness brand."

Piper Jaffray served as financial advisor and Larkin Hoffman acted as legal counsel to Anytime Fitness.  King & Spalding and DLA Piper acted as legal counsel to Roark Capital.

About Anytime Fitness
Founded in 2002, Anytime Fitness is the fastest-growing gym franchise in the world, with more than 2,400 gyms serving 2,000,000 members on five continents. Open 24 hours a day, 365 days a year, Anytime Fitness prides itself on providing its members with convenient and affordable fitness options in friendly, well-maintained facilities which feature top-quality exercise equipment. Gyms are now open in all 50 states, Canada, Mexico, Australia, New Zealand, England, Scotland, Ireland, Grand Cayman, Poland, the Netherlands, Spain, Qatar, India, Chile, Japan and Singapore.  All franchised gyms are individually owned and operated.  Join one gym and use them all.  Members also enjoy free access to AnytimeHealth.com, the most comprehensive wellness website available. The owners of Anytime Fitness also recently acquired a Denver-based chain of specialty waxing studios, Waxing the City.

About Roark Capital Group
Roark Capital Group is an Atlanta-based private equity firm that specializes in franchise, brand management, environmental services and marketing services companies with attractive growth prospects. Roark has invested in 31 franchise / multi-unit brands that collectively have nearly 18,000 locations and $16 billion in system wide revenues across 50 states and 71 countries. Roark's total locations include nearly 15,000 domestic locations and nearly 3,000 international locations. They also include more than 15,000 franchise locations and approximately 2,500 company owned locations. Roark's current franchise portfolio includes Anytime Fitness, Arby's, Auntie Anne's, Batteries Plus Bulbs, Carl's Jr., Carvel Ice Cream, Cinnabon, Corner Bakery, FASTSIGNS, Hardee's, Massage Envy, McAlister's Deli, Moe's Southwest Grill, Money Mailer, Pet Valu, Primrose Schools, Schlotzsky's, Waxing the City and Wingstop. The firm has $3 billion of equity capital under management. For more information, visit www.roarkcapital.com.  

Logo - http://photos.prnewswire.com/prnh/20130506/AQ07432LOGO-b

SOURCE Anytime Fitness

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, will highlight the current challenges of these transformative technologies and share strategies for preparing your organization for these changes. This “view from the top” will outline the latest trends and developm...
"LinearHub provides smart video conferencing, which is the Roundee service, and we archive all the video conferences and we also provide the transcript," stated Sunghyuk Kim, CEO of LinearHub, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Discover top technologies and tools all under one roof at April 24–28, 2017, at the Westin San Diego in San Diego, CA. Explore the Mobile Dev + Test and IoT Dev + Test Expo and enjoy all of these unique opportunities: The latest solutions, technologies, and tools in mobile or IoT software development and testing. Meet one-on-one with representatives from some of today's most innovative organizations
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and E...
Hardware virtualization and cloud computing allowed us to increase resource utilization and increase our flexibility to respond to business demand. Docker Containers are the next quantum leap - Are they?! Databases always represented an additional set of challenges unique to running workloads requiring a maximum of I/O, network, CPU resources combined with data locality.
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.