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Planet Fitness Franchisees Join Forces to Focus on Member-first Culture and Accelerated Growth

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PALO ALTO, CA; AUSTIN, TX; and RALEIGH, N.C. - Altamont Capital Partners (Altamont) announced that it has acquired PF Eastern NC, the largest Planet Fitness franchisee in North Carolina, a deal that brings together two franchisee powerhouses and expands their group to 56 clubs across the United States.

The acquisition partners Altamont's current Planet Fitness franchisee Excel Fitness (Excel), operating 39 fitness clubs across 4 states, with PF Eastern NC, operating 17 fitness clubs throughout the Raleigh, Durham and the Southwest Virginia markets. Operating together as Excel, this partnership helps the collective group deliver an exceptional customer experience and building loyalty through world class operations and its values-driven culture.

As part of the transaction Altamont has partnered with CJ Bouchard, Co-founder of PF Eastern NC. CJ brings over 13 years of Planet Fitness experience and will play a pivotal role in managing the business.

"I couldn't be more proud of the work my team has done, and we're all excited to reach the next level through our partnership with Excel and Altamont," CJ Bouchard said. "Excel's commitment to cultivating a first-class member experience falls right in line with our core values. We look forward to sharing best practices from both sides to continue growing together."

"This is an incredible opportunity for both teams to partner and continue our momentum," said Excel President, Mike Turner, adding, "The NC team are world-class operators, and with our larger and growing footprint, we're creating even more opportunities for our employees to build a career with this incredible brand. There's never been a better time to be part of our Planet."

Echoing that sentiment, Kevin Mason, a Principal of Altamont, said, "Culture was a key piece as we considered our next partnership. These two groups have created a member-first culture that begins at the front desk of every club and carries into the back office. We're excited to continue our growth together to bring Planet's unique value proposition to even more people with these strong operators leading the way."

Marks & Klein LLP advised and represented PF Eastern NC, while Ropes & Gray LLP and Bass, Berry & Sims PLC advised and represented Altamont.

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