Ropes & Gray Advises North Castle Partners’ and CR Fitness in GP-Led Secondaries Transaction

In The News
October 19, 2022

Ropes & Gray advised North Castle Partners and CR Fitness on the closing of a GP-led secondaries transaction that continues North Castle Partners’ ownership of CR Fitness, a leading Crunch Fitness franchisee.

North Castle Partners is a leading private equity firm focused on investments in consumer driven product and service businesses that promote healthy, active, and sustainable living. The single-asset continuation fund acquired CR Fitness from North Castle Partners VII, LP and other existing investors. The transaction was announced on Oct. 12 in a press release.

The Ropes & Gray team that represented North Castle Partners and CR Fitness was led by asset management partner Debra Lussier, and included private equity partner Paul Van Houten, benefits partner Matt Jones, and tax partners Adam Greenwood and Jay Milkes.