Corporate Fitness Works Acquires L&T Health and Fitness
Corporate Fitness Works (CFW), a leading provider of health and fitness management and consulting services, has acquired L&T Health and Fitness (L&T), which provides fitness center management, health promotion services, instructor training and more to individuals and organizations across the U.S.
According to Allison Flatley, the chief operating office of L&T, the company was acquired intact and is now a wholly-owned subsidiary of CFW. All employees were retained, in addition to L&T’s headquarters in Falls Church, Va. The exact terms of the deal were not disclosed.
“Both CFW and L&T clients and staff will see the best of the best as the two companies come together as one,” said Flatley. “We have branded our blending plan as ‘one perfect fit’ because we firmly believe this new venture will definitely be beneficial for our clients, our team and our suppliers.”
In addition to both CFW and L&T providing over 25 years of fitness and health management services, the two companies have one other thing in common — both are certified women-owned businesses.
“It is very exciting to be bringing two certified women-owned businesses together as one,” said Flatley. “I’m thrilled to join Sheila and Brenda (CFW’s principals) in ownership. Complete integration of the two companies will take some time. We will definitely play a large role in the future of the industry.”
Flatley explained that the economies of scale that can be realized with a larger organization will provide cost-savings for L&T’s clients and employees in the future. “Adding additional resources and growth opportunities for our employees will help us remain a leading provider of fitness, health and wellness services,” she continued.
According to Flatley, the acquisition will allow CFW and L&T to further corporate wellness services, especially in light of the Affordable Care Act (ACA). “With the signing of the ACA, employers now more than ever are looking to keep their employees healthy,” she explained. “I think this a great opportunity for clubs and management companies like L&T and CFW to deliver programs and services that drive participation and positive lifestyle change. Utilizing the collaborative efforts of L&T and CFW, we will be able to help our clients ‘bend the curve’ in healthcare spend[ing] and deliver innovative concepts to elevate worksite health and productivity.”
The acquisition occurs on the heels of L&T’s 30-year anniversary, which it will celebrate in June 2014. The company will host a golf tournament and party to celebrate and honor L&T’s founders, Susan Liebenow and Susan Torok.
By Rachel Zabonick