Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Excel Fitness Holdings (Excel Fitness), a portfolio company of Altamont Capital Partners (Altamont), on its sale to Olympus Partners (Olympus). Excel Fitness is one of the country’s largest Planet Fitness franchisees. The transaction was led by Ryan Budlong, Zach England and Grant Shin of the Harris Williams Consumer Group.
“The Excel Fitness team, in partnership with Altamont, has built a differentiated Planet Fitness platform that will continue to benefit from exceptional leadership, a strong post-COVID-19 recovery, and increased consumer focus on health and wellness,” said Ryan Budlong, a managing director at Harris Williams.
“The Excel Fitness transaction marks the continued return of large-scale transactions in the fitness industry and a renewed focus on long-term growth prospects in the ‘High Value, Low Price’ sector. As member levels and new club openings continue to return to and exceed pre-COVID-19 levels, investors are increasing their focus on the sector,” added Zach England, a director at Harris Williams.
Excel Fitness is a leading Planet Fitness franchise group based in the Austin, Texas area with over 90 locations across Texas, Oklahoma, Arkansas, Missouri, North Carolina, and Virginia. Excel Fitness has built a team culture that focuses on elevating the member experience by developing exceptional fitness clubs and delivering world-class customer service. The team is passionate about building communities through fitness and supporting their local markets through employment and membership opportunities that positively impact lives.
Founded in 1992 in Dover, New Hampshire, 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. As of December 31, 2021, Planet Fitness had 15.2 million members and 2,254 stores in 50 states, Washington, D.C., Puerto Rico, Canada, Panama, Mexico, and Australia. The company's mission is to enhance people's lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which Planet Fitness calls the Judgement Free Zone®. More than 90% of Planet Fitness stores are owned and operated by independent business men and women.
Altamont is a private investment firm based in the San Francisco Bay Area with more than $4 billion of assets under management. Altamont is focused on investing in middle market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The firm’s principals have significant experience building business success stories across a range of industries, including consumer, restaurants and multi-unit, financial services, healthcare, industrials, and business services.
Olympus is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs. Founded in 1988, Olympus is an active, long-term investor across a broad range of industries including business services, consumer products, healthcare services, financial services, industrial services, and manufacturing.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Consumer Group has completed transactions across a variety of verticals, including food, beverage and agribusiness; branded consumer products; consumer services; and restaurant and retail. For more information on the Harris Williams Consumer Group and recent transactions, visit the Consumer Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: email@example.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.
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