Altamont Acquires Largest Planet Fitness Franchisee in Texas
Ropes & Gray represented Altamont Capital Partners in its acquisition of Excel Fitness Holdings, Inc., the largest Planet Fitness franchisee in Texas operating 18 fitness clubs throughout the Dallas and Austin markets. As part of the transaction, Altamont partnered with Greg Attwood and Mike Turner, the prior majority owners of Excel Fitness along with Kimberly Attwood and Scott Attwood.
Founded in 1992 in Dover, N.H., Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. It has more than 1,000 locations in 47 states, the District of Columbia, Puerto Rico, Canada and the Dominican Republic.
The acquisition was announced Feb. 2.
The Ropes & Gray team included private equity partner Howard Glazer (San Francisco); tax partner Leo Arnaboldi (New York); executive compensation & employee benefits partner Jennifer Rikoski (Boston); and finance partner Steven Rutkovsky (New York).