Prospect Hill invests in Fitness Ventures

Prospect Hill Growth Partners in Waltham, Massachusetts has bought a majority interest in Fitness Ventures LLC. Based in Orlando, Florida, Fitness Ventures is one of the fastest growing franchisees in the Crunch Fitness system owning and operating gyms throughout eight states in the U.S. with several more in development. Terms of the deal were not disclosed. According to the corporate announcement, Founder Brian Hibbard will retain a substantial investing in the business and continue to lead the company as its chief executive officer. The investment from the private equity firm will allow Fitness Ventures to grow at a faster pace, acceleration its overall growth rate and pushing to its ultimate goal of owning and operating 100 Crunch Fitness locations, said Hibbard, who founded the company in 2016. “Fitness Ventures has distinguished themselves by producing some of the fastest membership growth rates in the industry,” said Ben Midgley, CEO of Crunch Franchising. “The combination of Crunch’s exceptional operational support, consumer proposition and Brian’s operating strategy are producing amazing results. We look forward to our continued partnership with Brian’s team and supporting their development of the Crunch brand across the United States.” “We are very excited about our partnership with Brian to deliver the Crunch fitness experience to new consumers,” said Prospect Hill Partner, Jeff Teschke. “Crunch is one of the fastest growing high-value, low-price fitness concepts in the United States and we believe our operational expertise and success in scaling other fitness investments like Equinox and Honors Holdings (the largest franchisee of Orangetheory Fitness) will help Brian’s team accelerate their already impressive growth.” The Boston-area private equity firm makes control investments in North American consumer and healthcare growth companies. The partners at Prospect Hill have collectively invested $2.7 billion of capital in more than 35 portfolio companies over two decades.

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