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Eagle Merchant Partners and JLM Financial Partners Sell United PF Partners to American Securities

Largest, Fastest-Growing Area Developer Within the Planet Fitness System Acquired by New York Private Equity Firm

Atlanta, GA (Dec. 30, 2019) — American Securities, a leading U.S. private equity firm, has acquired United PF Partners (“United PF”), the largest and fastest-growing area developer within the Planet Fitness system, from Eagle Merchant Partners and JLM Financial Partners.

Headquartered in Austin, Texas, United PF serves more than 1 million members across more than 160 locations in 14 states. United PF was founded in November 2016 through the consolidation of five leading Planet Fitness franchisee groups. It has nearly tripled its club count through a successful organic and M&A growth strategy.

“We are very excited to partner with American Securities as we seek to continue to expand our platform through numerous growth avenues,” said Trey Owen, CEO and Founder, United PF. “JLM Financial Partners and Eagle Merchant Partners gave us the support and the space to be the best Planet Fitness operators in the system, while making it possible for us to expand our geographic footprint and introduce more health-conscious members to the Judgement Free Zone®.”

Planet Fitness is one of the largest and most prolific franchisors of fitness centers in the United States. As of Sept. 30, 2019, Planet Fitness had more than 14.1 million members and 1,899 clubs in the 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic, Panama and Mexico. The company’s mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, called the Judgment Free Zone®.

“Our partnership had a clear vision to invest in Planet Fitness as the market leader,” said Andrew Hirsekorn, Partner, Eagle Merchant Partners. “In partnership with JLM and under Trey Owen’s strong leadership, we were able to build a top tier management team, acquire additional Planet Fitness markets and build new clubs in attractive whitespace.” 

Larry Meyer, Chairman, JLM Financial Partners, added, “As strong proponents of the growing fitness and wellness market, we are extremely proud of United PF’s growth and success during our investment. Trey Owen and his team have been excellent partners, outstanding stewards of the Planet Fitness brand and we wish them continued success.”

King & Spalding LLP provided legal counsel on behalf of Eagle Merchant Partners. Vinson & Elkins LLP provided legal counsel on behalf of JLM Financial Partners. Harris Williams advised United PF on the transaction, which closed in late December. Terms are confidential.

About United PF Partners

United PF is the largest Planet Fitness franchisee in the U.S. with more than 160 clubs and development rights to build new clubs across the West, Southwest, Midwest, South and Mid-Atlantic regions.  Led by Trey Owen, CEO, United PF is the leading Planet Fitness franchise with clubs across fourteen states, including Alabama, Arizona, Arkansas, Illinois, Kansas, Louisiana, Mississippi, Missouri, Ohio, Oklahoma, Pennsylvania, Tennessee, Texas and West Virginia.  United PF’s keys to success are hiring top talent, selecting optimal locations, operating exceptionally clean clubs, providing a friendly customer experience and protecting the Judgement Free Zone®. 

About Eagle Merchant Partners

Eagle Merchant Partners is an Atlanta, Georgia based private equity firm focused on lower middle market companies in the multi-unit consumer, and industrial and related service sectors primarily in the Southeastern United States. The partnership is one of the most experienced private equity investors in the region, investing over $1.2 billion in eighteen companies with more than $1.5 billion in revenues. For more information, visit www.eaglemerchantpartners.com.

About JLM Financial Partners

JLM is a private investment firm based in Austin, Texas. JLM focuses on multi-unit and scalable businesses with strong management teams and has a primary focus on companies in health and wellness, beauty, lifestyle/entertainment and recreation.  For more information, visit www.jlmfinancialpartners.com.

About American Securities

Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion and/or $50 million to $250 million of EBITDA. American Securities and its affiliates have approximately $23 billion under management. For more information, visit www.american-securities.com.

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