Rainier Partners, a private equity firm focused on lower middle-market services businesses, has acquired Omega Fitness, an Anytime Fitness franchisee formed by the combination of businesses built by two franchise operators, Andy Gundlach and Russ Allen.
Omega Fitness has nearly 70 gyms in Wisconsin, California and Florida. The company will be led by Allen and Gundlach. Allen and Gundlach will partner closely with Rainier to lead and expand the Omega Fitness platform while optimizing operations in already-existing clubs.
“We are excited to be early investors in the Anytime Fitness system and to partner with Russ, Andy, and their teams to capitalize on the growth opportunities ahead of the company and the brand,” states Rainier Co-Founder and Managing Partner Jon Altman.
Perkins Coie provided legal counsel, and Fifth Third Bank acted as financial advisor to Omega Fitness.