Olympus Partners has acquired Excel Fitness Holdings, a Planet Fitness franchisee.
Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and companies needing capital for expansion.
Excel Fitness Holdings is a Planet Fitness franchise group with over 90 locations across Texas, Oklahoma, Arkansas, Missouri, North Carolina, and Virginia. Excel Fitness is headquartered in Austin and serves nearly 750,000 members. Planet Fitness is a franchisor and operator of fitness centers in the United States. Planet Fitness had 15.2 million members and 2,254 stores in 50 states.
“The Planet Fitness brand has done an incredible job cultivating a welcoming environment for the large percentage of the population who have never belonged to a gym or find traditional gym settings intimidating. We are thrilled to be partnering with Excel management who we believe has developed one of the premier franchisees by marrying the proven Planet Fitness concept with exceptional customer service and operational excellence,” said Matt Boyd, principal at Olympus. “We look forward to our partnership with CJ and the rest of the Excel team as we further expand the Company’s presence in its core markets and beyond.”
The Olympus team included Paul Rubin, Matt Boyd, Matt Bujor and Sid Ahuja. Olympus was represented by Matt Goulding and Alexandra Dayneka-Hayes from Kirkland & Ellis and the Company was advised by Ryan Budlong and Zach England from Harris Williams.