Argonne Capital Group – through its portfolio company, National Fitness Partners (NFP) – has acquired 12 Planet Fitness clubs operating in the Charlotte, NC metro area from GNT Holdings. The acquisition more than doubles the footprint of the company, which will now operate 23 clubs in Pennsylvania, Delaware, North Carolina and South Carolina. NFP’s headquarters will remain in Harrisburg, PA, but the company plans to maintain an office in Charlotte to support the newly acquired clubs.
“We have known Gerald Kennedy and the GNT team for many years and have always been impressed with the quality of their clubs, their operations and their growing markets,” said Frank Kindler, president of NFP. “With these newly acquired clubs and the continued financial support of Argonne, we look forward to further expanding the Planet Fitness brand in the Carolinas and beyond.”
“After 11 years of hard work building out the Charlotte market, the entire GNT team and I could not be more thrilled with the outcome of this transaction,” said Gerald Kennedy, founder and president of GNT Holdings. “We believe that National Fitness Partners is going to provide the perfect home for our 12 Charlotte-area clubs and their loyal employees and members.”
Photo courtesy Planet Fitness