26North Partners, a next-generation alternatives firm founded by Josh Harris, announced it has acquired Onelife Fitness from Delos Capital. Onelife Fitness currently serves over 400,000 members across 61 clubs, with plans for significant growth.
“Onelife is a fantastic opportunity to back what we believe to be a best-in-class operator and enduring platform in a growing category that is underpinned by a long-term consumer focus on physical fitness and wellness,” said Mark Weinberg, partner and head of private equity of 26North. “We’re excited to use 26North’s Alpha Creation Team to enhance Onelife’s growth.”
Kirk and John Galiani founded Onelife Fitness to give members a premium experience and amenities at an affordable price. Along with CEO Ori Gorfine, they have remained true to that vision, achieving strong operational and financial metrics, while steadily increasing the company’s footprint.
“We’re thrilled to partner with Ori, Kirk, John and the rest of Onelife’s leadership team to build on the strong foundation they have established in their core markets,” said Gary Freilich, 26North’s private equity partner. “With our backing, Onelife will continue its efforts to innovate its service offerings and introduce new clubs in additional cities, all while keeping the member at the center of everything Onelife does.”
“Onelife is committed to taking care of people — from our passionate team to each individual member who walks through our doors,” said Gorfine. “We’ve grown over the years organically as communities clamor for a fitness concept that offers compelling value, high-end experiences and top amenities at affordable rates. We couldn’t be more excited to marry our successful formula with 26North’s experience, resources and guidance to bring Onelife Fitness to the next level.”
“It is amazing to see how Onelife Fitness has grown; It’s a testament to the brand’s value proposition and our incredible team.” said Kirk and John Galiani. “While we couldn’t be prouder of what has been accomplished, after developing a trusting relationship with Josh Harris and his team, we are convinced the best years of Onelife Fitness are ahead.”
“We’re excited for 26North to acquire Onelife and are confident in their capabilities to take the business to the next level,” said Matt Constantino, the managing partner of Delos. “We’ve known the team since 2012, have developed deep relationships with them and have built a robust knowledge of the business and industry. Together, the team has created immense value and has built a leading platform that we believe is poised for continued growth.”
Jefferies LLC and North Point served as financial advisors to Onelife Fitness. Kirkland & Ellis served as legal counsel to 26North. Financial terms of the transaction were not disclosed.
