U.S. fitness center operator Planet Fitness Inc. said Sept. 5 that its biggest franchisee, United PF Partners LLC, completed its acquisition of 19 franchised Planet Fitness clubs in Phoenix.
The deal increases United PF's operating club count to 108 across Alabama, Arizona, Kansas, Louisiana, Mississippi, Missouri, Oklahoma, Pennsylvania, Texas and West Virginia.
United PF was formed by private equity firms JLM Financial Partners and Eagle Merchant Partners in November 2016 with the merger of several Planet Fitness franchisees.
Planet Fitness said United PF's investment will help support improvements in existing clubs, as well as the development of new clubs.
Goldman Sachs Specialty Lending Group and AB Private Credit Investors acted as co-agents and co-lead arrangers in the transaction, while Antares was also a co-lead arranger.