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Aug 25, 2022, 17:07 ET
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Franchisee Excel Fitness announces acquisition and plans to continue providing accessible and affordable fitness for local communities
VIRGINIA BEACH, Va., Aug. 25, 2022 /PRNewswire/ — Excel Fitness, a franchisee of Planet Fitness, today announced its acquisition of 14 Planet Fitness locations in the Hampton Roads region of Eastern Virginia from the KSMA group, owned and operated by husband-and-wife team Ken and Sharree Ryder, and their son Michael Barnes and daughter Amanda Williamson. 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 focused on a people-first approach, growing 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. “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.
“With the addition of these 14 locations, we’re excited to continue expanding our footprint in Virginia and North Carolina,” said Chief Executive Officer CJ Bouchard of Excel Fitness. “Ken, Sharree and the entire Ryder Family have built a world-class organization, and their incredible team will immediately strengthen our organization as we continue growing together.”
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 offers extremely low prices and a variety of benefits, including a hassle-free environment, state-of-the-art cardio and strength equipment, fully equipped locker rooms, and more. The free Planet Fitness App, available to members and non-members alike, puts more than 1,000 exercises and tutorials in your pocket with routines for all levels and interests. The Planet Fitness Black Card® membership includes extra perks, such as access to more than 2,300 clubs at no additional charge, the ability to bring a guest anytime, and additional amenities like unlimited use of massage chairs, HydroMassage beds, and more.
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.
For more information on Planet Fitness and to find a club near you visit www.PlanetFitness.com.
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, 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. 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 90% of Planet Fitness stores are owned and operated by independent business men and women.
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. Excel Fitness has built a team culture that focuses on elevating the member experience by developing exceptional health clubs and delivering world-class customer service. The team is passionate about building communities through fitness and supporting their local markets through employment and memberships opportunities that positively impact lives.
Founded in 1988, Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries including business services, consumer products, healthcare services, financial services, industrial services, and manufacturing. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.
Blake Steele for Planet Fitness
SOURCE Planet Fitness
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