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The Beekman Group Recapitalizes Eclipse Fitness Group, a Leading Planet Fitness Franchisee, to Accelerate New Location and Acquisition GrowthThe Beekman Group is pleased to announce that an affiliate of Beekman Investment Partners IV ("Beekman") has completed a majority investment in Eclipse Fitness Group ("Eclipse Fitness" or the "Company"), a leading Planet Fitness franchisee with 20 clubs across certain Georgia and Florida markets. 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. Eclipse Fitness, headquartered in Winter Park, FL, was founded in 2005 with the opening of its first Planet Fitness club in Casselberry, Florida. The Company was the second Planet Fitness franchisee in Florida, as well as Georgia with the opening of its Duluth location in 2009. Since then, the Company has grown to 20 clubs across Georgia and Florida. The Company expects to open its 21st location in Georgia in the spring of 2023. Beekman plans to support the Company's growth initiatives through continued development of the Company's Area Development Agreement and potential acquisitions of other Planet Fitness franchisee networks. John G. Troiano, Managing Partner & CEO at The Beekman Group, said: "We are excited to partner with Eclipse Fitness' experienced management team to build upon the Company's impressive growth. We have admired the Planet Fitness system for years and the long-term strength and marketing leadership of its brand and business model. We look forward to supporting the Eclise management team to scale the platform further and continue to execute operationally at the highest level." Toby Hines, CEO of Eclipse Fitness, said: "We are thrilled to have partnered with The Beekman Group. Their track record of success, expertise in accelerating growth, and extensive experience supporting consumer businesses made them an obvious choice as our investment partner. We look forward to working together to achieve our strategic growth plans and build on the Company's success." Eclipse Fitness extends Beekman's track record of attractive investments in multi-site consumer platforms over the past 18 years. North Point served as exclusive financial advisor to the predecessor of Eclipse Fitness for this transaction. About The Beekman Group The Beekman Group is a private equity firm, based in New York City, focused on building industry-leading companies in the healthcare, consumer, and business services sectors. The firm partners with management teams who desire to be significant owners and create meaningful value by accelerating organic and acquisition growth initiatives. Beekman manages over $1 billion in assets and has completed over 180 transactions since inception. For more information, please visit www.thebeekmangroup.com. About Eclipse Fitness Eclipse Fitness is a leading Planet Fitness franchisee, operating 20 fitness clubs across Georgia and Florida. Headquartered in Winter Park, FL, the Company has been in the Planet Fitness system for nearly two decades. About Planet Fitness Founded in 1992, Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of December 31, 2022, Planet Fitness had more than 17 million members and over 2,400 locations in 50 states, Canada, Latin America and Australia. The Company's mission is to enhance people's lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230124005811/en/ |
