AEA Investors, Fitness Capital Partners and Ontario Teachers Pension Plan have teamed up to buy 24 Hour Fitness USA Inc. Headquartered in San Ramon, California, 24 Hour Fitness is a health club that boasts 4 million members and 400 gym locations in the U.S.

The company was sold by Forstmann Little & Co., a private equity firm that has been winding down operations since 2011 after the death of its co-founder, M&A veteran Theodore "Ted" Forstmann.

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