Four Orangetheory Fitness studios in Fairfield County have been acquired as part of a private equity deal with a New York-based franchiser, the company announced Tuesday.
Empire Portfolio Group bought Orangetheory Fitness studios in Shelton, Fairfield, Norwalk, and Westport in the transaction, terms of which were not disclosed. The company now owns 40 of the studios, which focus on heart-rate based interval training.
Empire partnered with Revelstoke Capital Partners, a leading private equity firm focused on health and wellness, in December 2020.
“As current operators of some of the strongest performing studios in Connecticut, this opportunity was a natural next step for us,” Empire CEO Adam Krell said.
Winston & Strawn LLP acted as legal counsel to Empire and the sellers were represented by MOK Advisors as financial advisor.
Based in Denver, Revelstoke has about $2.9 billion of assets under management and has completed 99 acquisitions since its founding in 2013.
Contact Liese Klein at lklein@newhavenbiz.com.
