Fitness Connection opened a third gym in San Antonio, TX, the 45th in its nationwide network.
The new Westover facility opened on January 20 and includes a 50,000-square-foot gym, catering to all fitness levels and preferences. The company plans to host a grand opening on February 3.
Atlanta-based Roark Capital has owned Fitness Connection since February 2019, when it acquired the Houston-based business and parent company Titan Fitness Holdings from private equity firm LNK Partners. Roark also owns Anytime Fitness and Orangetheory and reports “over $38 billion in assets under management.”
“Fitness Connection is a terrific concept with a phenomenal value proposition. We are excited to be partnering with Phil and his team as they continue to grow the business,” said Erik Morris, senior managing director and co-chief investment officer at Roark Capital, at the time of the acquisition.
Paul, Weiss, Rifkind, Wharton & Garrison LLP advised Roark Capital. Jefferies LLC, Piper Jaffray & Co. and Kirkland & Ellis LLP advised Fitness Connection.
Fitness Connection first teamed up with LNK in September 2013. The partnership helped the company to expand from 28 health clubs to 41. At the time, its primary markets were in North Carolina, Texas and Nevada.
“As we embark on the next phase of growth, we could not be more excited about having Roark as our partner to lend their guidance and expertise in multi-unit, consumer-facing investments,” said Phil Howard, CEO of Fitness Connection in 2019. “We look forward to working closely with the Roark team as we continue to execute our national growth strategy of making high-value, affordable fitness accessible to all.”
Image courtesy Fitness Connection
