The investment will support Empire’s new studio growth across the U.S. expanding access to Orangetheory Fitness’ science, coaching and technology supporting its health and wellness for members. Empire’s founder and CEO, Adam Krell, will retain a substantial ownership stake in the business and continue to lead the business going forward.
“We are very excited to partner with Revelstoke for Empire’s next stage of growth,” said Krell. “Revelstoke has significant experience growing successful multi-site brands, with a particular focus on health and wellness. Their investment in Empire will provide us with the capital and resources to accelerate our de-novo studio expansion and pursue strategic acquisition opportunities, and doing so will create substantial opportunities for growth and career progression and will continue to broaden the positive impact that we make on the communities in which we operate. We have a vision of becoming one of the largest Orangetheory franchisees in the system and are very much looking forward to this next chapter.”
“After a multi-year outbound search in the health and wellness sector, we are very excited to partner with Empire. Orangetheory Fitness is designed to produce results for its members inside and out, giving people a healthier, happier and more vibrant life,” said Simon Bachleda, co-founder and managing partner at Revelstoke. Will Oliver, Vice President at Revelstoke, added, “We are long-term believers that health, wellness, and fitness in a community setting will become an integral, and increasing, part of people’s lives. We look forward to working with Adam to build and acquire studios and generate new loyal members who have been fundamental to Orangetheory’s significant growth.”
Winston & Strawn LLP acted as legal counsel to Revelstoke. Greenberg Traurig, LLP acted as legal counsel, and Piper Sandler & Co. acted as a financial advisor to Empire.
Photo courtesy Orangetheory
