Morgan Stanley Capital Partners Completes Investment in Impact Fitness
NEW YORK–(BUSINESS WIRE)–Investment finances controlled by way of Morgan Stanley Capital Partners (MSCP), the center marketplace focused private fairness crew inside Morgan Stanley Investment Management, announced nowadays that they have finished funding in Impact Fitness (“Impact” or the “Company”), a leading Planet Fitness franchisee with 29 clubs across the US and Canada. MSCP partnered with the modern-day control group, led via CEO Adam Willaeys, and founder Chris Klebba, who will remain as Executive Chairman. The Company, which MSCP received from Bain Capital Double Impact (BCDI) and Bridges Fund Management (Bridges), extends MSCP’s lengthy music file of partnering with experiential, multi-website retail corporations.
Impact, based in Brighton, Michigan, became founded by using Chris Klebba in 2006 with the hole of its first Planet Fitness club within the Greater Detroit market. Since then, the Company has grown to consist of 29 golf equipment across Michigan, Indiana, British Columbia, and Ontario.
Planet Fitness is one of the largest and quickest-growing franchisors of health facilities in the United States. As of March 31, 2019, Planet Fitness had more than thirteen.6 million members and 1,806 clubs within the 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic, Panama, and Mexico. Planet Fitness’s venture is to decorate humans’ lives by presenting a outstanding fitness experience in a welcoming, non-intimidating environment, referred to as the Judgement Free Zone®.
In addition to running pinnacle-appearing places in the Planet Fitness system, Impact is devoted to improving communities in which it operates utilizing supplying extremely good, low-cost gyms get entry to underserved groups, partnering with neighborhood charitable businesses, and hiring talent from the same cities and towns the golf equipment serve. Impact completed B-Corp eligibility fame in 2018 and is a diagnosed leading franchisee in the Planet Fitness device.
Aaron Sack, Managing Director and Head of MSCP, stated: “We are excited to partner with Impact’s gifted management crew to keep the Company’s amazing boom. We have well-liked Planet Fitness and the franchisee gadget, and Impact has differentiated itself through its assignment-driven way of life. We are pleased to support the Company as it expands and ambitions to deliver its offering to different communities in need.”
Adam Willaeys, Chief Executive Officer of Impact Fitness, said, “Impact Fitness is excited to continue its adventure of presenting high-value, low-cost, judgment-free fitness for every person. Morgan Stanley Capital Partners is the proper match for our emblem’s development and the way of life and assignment of Impact Fitness. Thank you to Bain Capital Double Impact, Bridges Fund Management, and all parties for making this opportunity possible.”
“We have been thrilled to partner with a venture-pushed management group as they have elevated right of entry to health for masses of hundreds of people who live in markets which might be underserved using other fitness providers,” said Peter Spring, a Managing Director of Bain Capital Double Impact. “We have been thrilled with their successes improving get right of entry to low-value health and constructing a excessive-performance, task-aligned group subculture, and we desire Chris, Adam and the relaxation of the Impact Fitness group nicely at some point of this subsequent segment of their growth.”
Debevoise & Plimpton served as prison consultant to MSCP. Harris Williams served as financial guide to Impact Fitness and BCDI.