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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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Diary dates
23-25 Jul 2019
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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
Related news

Crunch Fitness franchisee secures growth funding – targets 50 clubs in the northeast of US

23 Apr 2019
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News

Life Fitness has appointed Chris Clawson as its CEO, succeeding the outgoing Jason Worthy. Clawson
Exercise has the ability to improve brain function in previously sedentary, overweight individuals. The University
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
Solent University has officially opened its new £28m sports and fitness centre. The centre houses
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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
Bannatyne Group has named Karen Wilkinson to the board of Bannatyne Fitness. The appointment comes
UK children will be offered a greater opportunity to take part in 60 minutes of
Regular exercise, a balanced diet, quitting smoking and cutting down on alcohol are the best
The best class instructors earn the best salaries the market offers, bringing enhanced value to
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Strength training
You may be able to help your members and customers avoid or reverse osteoporosis by encouraging weight bearing activities, as Liz Terry reports
Features
Member payments
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Features
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Over 300 fitness executives gathered in Singapore recently for the World Fit Summit. HCM’s Steph Eaves attended to chat with CEO and founder Ross Campbell and find out more about the industry in Asia
Features
ukactive
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Features
People
My dream is for our industry to have a much more significant impact on global health; there is still so much more we can do - Rasmus Ingerslev
People
HCM people

Pitbull and Tony Robbins

Founders and advisers, Grit Bxng
Parents often tell their children to become doctors or lawyers, but now they’ll encourage their children to become fitness pros. At $1,000 an hour, they’ll make more than the best Wall Street lawyers. Trainers are the new superstars
People
HCM people

Lisa Smosarski

Editor in chief – Stylist magazine
We watch trends closely at Stylist and we’ve seen a real growth in women strength training as a way of reclaiming a traditionally male sp
People
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Ben Keenan

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Dirk Van Der Flier

Gym Plus Group: chair
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We’re at the beginning of the journey with EMS training in the UK. The benefits and applications of this type of training are vast, and there’s an enormous commercial opportunity for both PTs and operators
Job search
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Featured supplier news
Featured supplier: Collaboration, not aggregation, is the message
MoveGB is a collaboration-based platform, but being a platform, one of the common worries we hear from our partners is about loss of customer ownership.
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Featured supplier: New London PT facility partners with Eleiko
WE11, a luxury co-working studio for wellness professionals, is a stunning facility with a fully equipped gym, treatment rooms, changing rooms and The WE11 Lounge.
Opinion
promotion
Member retention is a growing problem for long-established gym chains, who are battling the growing budget and boutique gym market.
Opinion: Are you trying to beat budget gyms at their own game?
Video Gallery
TRX MAPS
TRX Training
TRX MAPS completes body movement assessments in just 30 seconds to help trainers develop personalized fitness plans and goals for members. Read more
More videos:
Company profiles
Company profile: Xponential Fitness LLC
Xponential Fitness is the world’s leading franchisor of boutique fitness studios, with a portfolio of ...
Company profiles
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Jordan Fitness have been at the forefront of premium gym design, with a strong reputation ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Whole body cryotherapy
Zimmer MedizinSysteme GmbH / icelab: Whole body cryotherapy
Flooring
Total Vibration Solutions Ltd: Flooring
Exercise equipment
EXF Fitness Equipment: Exercise equipment
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Member access schemes
Move GB: Member access schemes
Direct debit solutions
Debit Finance Collections: Direct debit solutions
Architects/designers
Zynk Design Consultants: Architects/designers
Governing body
EMD UK: Governing body
Trade associations
International SPA Association - iSPA: Trade associations
Audio visual
Hutchison Technologies: Audio visual
Property & Tenders
Diary dates
23-25 Jul 2019
Melbourne Convention and Exhibition Centre, Melbourne, Australia
Diary dates
05-06 Sep 2019
TagusPark, Oeiras, Portugal
Diary dates
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