VASA Fitness has acquired 17 Gold’s Gyms in Utah and will rebrand the clubs under its name. The terms of the deal were not disclosed.
VASA Fitness will also open a new club in Riverton, Utah, in late December.
“VASA Fitness was created to provide the best workout environment for the best prices in Utah,” said Scott Felsted, the owner of VASA Fitness, in a press release from VASA. “Our team’s focus is community-centered fitness in a clean, welcoming and fun environment. We want our VASA members to feel at home in their neighborhood clubs, which also means expansion into other communities in Utah and out-of-state.”
VASA Fitness clubs are characterized by top-of-the-line equipment, a range of Group X classes, functional training, cardio cinema rooms, on-site childcare and more.
Silver Oak Services Partners (Silver Oak), a middle market private equity firm, announced it has made an investment in VASA Fitness in partnership with the founders and management.
“We couldn’t be more excited about our partnership with Silver Oak and the launch of our new brand, VASA Fitness,” said Felsted, in a press release from Silver Oak. “We have gotten to know Dan [Gill, the managing partner of Silver Oak] and the Silver Oak team over the past six years and are very optimistic about what we can collectively achieve with VASA. They understand the health club space and their expertise in growing businesses like ours will be valuable as we look to improve our product and expand into new markets.”
Felsted founded VASA Fitness in 1996. The company is headquartered in Provo, Utah, and serves approximately 150,000 members.