Altamont Capital Partners sells its investment in Excel Fitness, one of the main franchisees of Planet Fitness

PALO ALTO, Calif., June 13, 2022 /PRNewswire/ — After six years of partnership with Excel Fitness, Altamont Capital Partners (Altamont) ended its investment by selling the company to Olympus Partners. As part of the transaction, which closed last month, Excel’s management team and founders, along with Altamontestablished a bonus pool that provided every employee of the company – more than 1,500 people – with a payment at closing, in recognition of their contributions.

“We are proud of what we have accomplished with the Excel Fitness team throughout our partnership and are delighted that each of our dedicated team members participated in this exciting event,” said Managing Director of Altamont Kevin Mason. “Excel Fitness has enjoyed enormous success over the past several years, building on its proven track record of operational excellence and industry-leading member service. Excel would not be where it is today without the work hard work and commitment of its team members, and we are confident that thanks to them, the company is well positioned for continued growth.”

Altamont acquired franchise business Planet Fitness in 2016, building on its previous experience investing in multiple consumer units, including with Tacala, the nation’s largest Taco Bell franchisee. At the time, Excel Fitness operated 18 Planet Fitness locations in Austin and dallas. Today, Excel operates 90 sites across Texas, Oklahoma, Arkansas, Missouri, North Carolinaand Virginia and was appointed on 2019 Franchisee of the year by Planet Fitness.

“We have always prioritized creating value for our club members and employees,” said CEO of Excel Fitness, CJ Bouchard. “We’ve had a fantastic run for the past six years and we look forward to embarking on this next chapter as we continue to grow our business and deliver world-class experiences to our members.”

“Our partnership with Excel Fitness has fueled phenomenal growth through great leadership and great people,” added Managing Director of Altamont Casey Lynch. “The organization fully embodies its core values ​​of integrity, dedication and team culture and this commitment to core values ​​has truly enabled the company’s success.”

Altamont is a founding partner of Ownership Works, a new nonprofit organization dedicated to developing large-scale employee ownership programs to create better work environments and financial opportunities for employees, and to help companies improve their performance by attracting and retaining engaged employees who invest in their business. Hit. As part of its partnership with Ownership Works, Altamont will continue to work with its partner companies to build on existing efforts and implement shared ownership more broadly across its portfolio.

Terms of the transaction were not disclosed. Harris Williams acted as financial advisor, and Ropes & Gray and Lathrop GPM acted as legal advisors to Excel Fitness in connection with the transaction. Fifth Third Bank acted as advisor to management.

About Excel Fitness Holdings, Inc.

Excel Fitness Holdings, Inc. is a leading Planet Fitness franchise group based in the Austin area with over 90 pitches across Texas, Oklahoma, Arkansas, Missouri, North Carolinaand Virginia. Excel Fitness has built a team culture that is focused on improving 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 membership opportunities that positively impact lives.

About Altamont Capital Partners

Altamont Capital Partners is a private equity firm based in the San Francisco Bay Area with over $4.5 billion of assets under management. Altamont focuses on investing in middle-market companies where it can partner with top-tier management teams to help its portfolio companies reach their full potential. Company leaders have significant experience in building business success across a range of industries, including financial services, healthcare, business services, consumer/retail and industrials.

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SOURCE Altamont Capital Partners


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