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
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at Dell EMC, introduced a methodology for capturing, enriching and sharing data (and analytics) across the organization...
Developers want to create better apps faster. Static clouds are giving way to scalable systems, with dynamic resource allocation and application monitoring. You won't hear that chant from users on any picket line, but helping developers to create better apps faster is the mission of Lee Atchison, principal cloud architect and advocate at New Relic Inc., based in San Francisco. His singular job is to understand and drive the industry in the areas of cloud architecture, microservices, scalability ...
SYS-CON Events announced today that T-Mobile will exhibit at 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. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Everyone wants to use containers, but monitoring containers is hard. New ephemeral architecture introduces new challenges in how monitoring tools need to monitor and visualize containers, so your team can make sense of everything. In his session at @DevOpsSummit, David Gildeh, co-founder and CEO of Outlyer, will go through the challenges and show there is light at the end of the tunnel if you use the right tools and understand what you need to be monitoring to successfully use containers in your...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
@DevOpsSummit at Cloud 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. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...