Latest news
Konz returns to lead Sport & Health
US capital Washington’s largest health and fitness chain, the Sport & Health company, has been acquired by a group of local investors led by the chain’s former CEO for US$75m (£42m, 62.6m euro).
Founded in 1973, the company comprises 26 health and fitness clubs and three day spas, serving more than 80,000 members.
The New York investment firm, Carl Marks & Co, sold the chain to investment vehicle Sport & Health Holdings, whose partners include Donald Konz – one of the fitness chain’s original founders.
Other partners of Sport & Health Holdings include local real estate developers, investors and Jonathan Adler, former CEO of publishing company The Adler Group, who becomes president and COO of the group.
Konz, who has 30 years’ experience in the health club industry, set up Courts Royal Clubs in 1973, which merged with The Arlington Tennis & Squash Club in 1980 before eventually becoming the Sport & Health company.
Konz served as the company’s president and CEO from 1997 to 2003 and now resumes his role as CEO through the acquisition.
Adler said the new owners plan to build on the brand by quickly expanding the chain.
“Sport & Health Clubs has earned its reputation as the premier health club company in the Washington DC metro area,” he said.
“By building on the strength of the company’s existing foundation, we plan to enhance the experience for our current 80,000-plus club members and spa clients, through improved physical facilities, technology, delivering extraordinary member service and expanding our current offerings in competitive sports, group exercise and the growing area of health and fitness programming.”