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
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
Any startup has to have a clear go –to-market strategy from the beginning. Similarly, any data science project has to have a go to production strategy from its first days, so it could go beyond proof-of-concept. Machine learning and artificial intelligence in production would result in hundreds of training pipelines and machine learning models that are continuously revised by teams of data scientists and seamlessly connected with web applications for tenants and users.
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, discussed the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information.
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
"The Striim platform is a full end-to-end streaming integration and analytics platform that is middleware that covers a lot of different use cases," explained Steve Wilkes, Founder and CTO at Striim, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze Sponsor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, will examine the regulations and provide insight on how it affects technology, challenges the established rules and will usher in new levels of diligence...
In his session at @ThingsExpo, Sudarshan Krishnamurthi, a Senior Manager, Business Strategy, at Cisco Systems, discussed how IT and operational technology (OT) work together, as opposed to being in separate siloes as once was traditional. Attendees learned how to fully leverage the power of IoT in their organization by bringing the two sides together and bridging the communication gap. He also looked at what good leadership must entail in order to accomplish this, and how IT managers can be the ...
DX World EXPO, LLC., a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.