Private equity firm Bain Capital, through its Bain Capital Double Impact (BCDI) investing strategy, remains active in 2017 with the backing of gym network Impact Fitness for an undisclosed amount. In a separate undisclosed transaction, the private equity affiliate BCDI also bought commercial recycling provider Living Earth.
Impact Fitness is a franchisee of Planet Fitness, one of the largest operators of gym clubs across the U.S. Founded in 1992, Impact Fitness owns 13 health clubs in Michigan and Indiana. Bain Capital’s investment will assist the target “to grow faster and identify even more first-time gym users in new markets while creating job opportunities in communities that need them,” states Impact Fitness CEO Chris Klebba. Bridges Ventures, a specialist fund manager based in London, also participated in the investment.