An Orange-based Planet Fitness franchisee has been acquired by international investment management firm TowerBrook Capital Partners.
In a statement released Monday, TowerBrook officials said they recently completed the purchase of ECP-PF Holdings Group from the Boston private equity firm Exaltare Capital Management.
Financial details of the transaction were not disclosed.
ECP-PF is one of the largest Planet Fitness franchisees in North America, with 108 locations in Connecticut, New York, Arizona, Georgia, New Mexico, Tennessee and western Canada. It was formed by Exaltare, which invests in lower mid-market, differentiated businesses in the franchise and consumer sector.
“TowerBrook is an ideal partner to help drive ECP-PF through its next phase of growth,” said ECP-PF CEO David Humphrey. “This transaction and partnership with TowerBrook will allow ECP-PF to accelerate our development and acquisition of new club locations, further expand our geographic footprint and continue to refine our operations.”
TowerBrook maintains headquarters in New York City and London. It has to date raised over $17.4 billion, and invests in private equity through its family of funds.
