LNK Partners Exits Investment in Fitness Connection
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WHITE PLAINS, N.Y. - LNK Partners, a leading consumer-focused private equity firm, announced that it has sold Fitness Connection, together with its parent company, Titan Fitness Holdings, to affiliates of Roark Capital. Terms of the transaction were not disclosed.
Fitness Connection is a leader in the high value, low price (HVLP) segment of the fitness club industry. The company operates 41 locations in Texas, North Carolina, and Nevada. Under LNK and management's ownership, which began in September 2013, the company expanded significantly in new and existing geographic markets, while building and maintaining a culture of outstanding operational execution and customer service.
David Landau, a Partner of LNK, said, "It has been a privilege for LNK to partner with the Fitness Connection team in building the company into one of the leading concepts in the HVLP segment of the fitness market. This sale represents an excellent result for LNK's investors, as well as a terrific outcome for the Fitness Connection team, and we are confident they will continue to be successful going forward."
Phil Howard, CEO of Fitness Connection, said, "The LNK team has been an extraordinary, value-added partner in building the Fitness Connection business, supporting the investments we have made in our unit expansion as well as the people and infrastructure required for continued growth. We could not have asked for a better partner for this stage of our journey as a company and management team, and their guidance has been invaluable in helping to position Fitness Connection for future success."
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