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Health Club Management

Health Club Management

News

Crunch gets investment from TPG private equity

The investment is a testament to Crunch's brand, facilities, and management and club teams
– Jim Rowley

Crunch Fitness could double in size over the next five years, according to CEO Jim Rowley, following investment in the fitness chain by private equity group TPG.

The company owns, operates and franchises more than 300 fitness centres across the US, Canada, Australia and Spain, serving 1.3 million members.

It has a franchise division with 88 operators, as well as its Crunch-owned Signature clubs in urban markets such as New York, Miami, Los Angeles and San Francisco. Both sides of the business are set for growth over the next three to five years according to Rowley.

"The investment from TPG is a testament to Crunch's brand, facilities, and management and club teams," said Rowley. "We've been able to create a fun, team-focused, and fitness-minded atmosphere that our members, teams and franchise partners embrace and enjoy."

Rowley and chair, Mark Mastrov, acquired Crunch with the backing of the private equity arm of Angelo Gordon in 2009, and began franchising the brand in 2010. Previously, the two had built the 24 Hour Fitness brand.

Crunch's business model looks to provide high-quality cardio and strength equipment, dynamic group classes and personalised training programmes at a compelling price point. The company’s Signature clubs deliver a premier experience, with expanded facilities, upgraded amenities and dedicated studios for RIDE and yoga.

Rowley said the business model wouldn't change with TPG backing, which he says comes as validation that "what we are doing is good work".

Jonathan Coslet, chief investment officer at TPG, commented: "We partner with great management teams that drive their industry forward, and this team has pioneered a business model that has transformed Crunch into the innovative and inclusive community it is today. We're excited to partner with the Crunch team as they look to continue their growth, including their global franchise network."

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News

Crunch gets investment from TPG private equity

The investment is a testament to Crunch's brand, facilities, and management and club teams
– Jim Rowley

Crunch Fitness could double in size over the next five years, according to CEO Jim Rowley, following investment in the fitness chain by private equity group TPG.

The company owns, operates and franchises more than 300 fitness centres across the US, Canada, Australia and Spain, serving 1.3 million members.

It has a franchise division with 88 operators, as well as its Crunch-owned Signature clubs in urban markets such as New York, Miami, Los Angeles and San Francisco. Both sides of the business are set for growth over the next three to five years according to Rowley.

"The investment from TPG is a testament to Crunch's brand, facilities, and management and club teams," said Rowley. "We've been able to create a fun, team-focused, and fitness-minded atmosphere that our members, teams and franchise partners embrace and enjoy."

Rowley and chair, Mark Mastrov, acquired Crunch with the backing of the private equity arm of Angelo Gordon in 2009, and began franchising the brand in 2010. Previously, the two had built the 24 Hour Fitness brand.

Crunch's business model looks to provide high-quality cardio and strength equipment, dynamic group classes and personalised training programmes at a compelling price point. The company’s Signature clubs deliver a premier experience, with expanded facilities, upgraded amenities and dedicated studios for RIDE and yoga.

Rowley said the business model wouldn't change with TPG backing, which he says comes as validation that "what we are doing is good work".

Jonathan Coslet, chief investment officer at TPG, commented: "We partner with great management teams that drive their industry forward, and this team has pioneered a business model that has transformed Crunch into the innovative and inclusive community it is today. We're excited to partner with the Crunch team as they look to continue their growth, including their global franchise network."

Sign up for FREE ezines & magazines
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Fitness equipment giant Nautilus has named James "Jim" Barr IV as its chief executive officer.
Leading UK cancer charities have called for newly diagnosed to be prescribed exercise and nutrition
Pure Gym has appointed Premier Global NASM as its exclusive UK fitness training provider. The
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David Lloyd Clubs (DLC) has revealed plans to become the first fitness operator to commit
Fitness subscription platform ClassPass has appointed a UK general manager as it looks to grow
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We have replicated the nightclub and restaurant environments that 22- to 35-year-olds like to hang out in - Rasmus Ingerslev
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The boxing entrepreneur aims to help people ‘unleash the fighter within’ to better handle life’s challenges, with the slogan, ‘It’s not yours until you fight for it’
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Pitbull and Tony Robbins

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Technology is shaping the way we do fitness. Personal trainers seek the latest innovations to elevate their business services. Electro-muscle stimulation (EMS) takes fitness technology to a whole new level, using the best of technology to ensure faster results compared to any other workout
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Opinion
promotion
Member retention is a growing problem for long-established gym chains, who are battling the growing budget and boutique gym market.
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Harlands Group testimonial
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Company profiles
Company profile: Xn Leisure Systems Ltd
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Catalogue Gallery
Click on a catalogue to view it online
Directory
Flooring
Total Vibration Solutions Ltd: Flooring
Locking solutions
Ojmar: Locking solutions
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GymSales: Management software
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Star Trac / Core Health & Fitness: Exercise equipment
Whole body cryotherapy
Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Direct debit solutions
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Governing body
EMD UK: Governing body
Audio visual
Hutchison Technologies: Audio visual
Lockers/interior design
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Skincare
Comfort Zone - Davines S.p.A: Skincare
Property & Tenders
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