The Beekman Group, a New York-based private equity firm focused on the healthcare, consumer and business services sector, has recapitalized Eclipse Fitness Group, a Planet Fitness franchisee with 20 clubs across certain Georgia and Florida markets.
Eclipse Fitness, headquartered in Winter Park, Fla., was founded in 2005 with the opening of its first Planet Fitness club in Casselberry, Fla. The company now expects to open its 21st location in Georgia in the spring of 2023. Beekman looks to support the company’s growth initiatives through the development of the company’s area development agreement and potential acquisitions of other Planet Fitness franchisee networks. Beekman partnered in the transaction with the current management team, led by co-founder Toby Hines, who will remain a significant shareholder and chief executive officer of the company.
“Their track record of success, expertise in accelerating growth, and extensive experience supporting consumer businesses made them an obvious choice as our investment partner,” comments Hines. “We look forward to working together to achieve our strategic growth plans and build on the Company’s success.”
North Point served as financial advisor to the predecessor of Eclipse Fitness for this transaction.