LNK Partners, a leading consumer private equity firm with aggregate funds over $800 million, has invested in Fitness Connection, a national health club chain with 28 clubs located in North Carolina, Texas and Nevada. The terms of the deal were not disclosed.
“I’m extremely excited about the partnership,” Jeff Skeen, the CEO of Fitness Connection, told Club Solutions. “LNK has worked with some major brands (Staples, Tommy Hilfiger, IZOD). The resources we now have are unbelievable.”
According to Skeen, those resources will be used to assist in the company’s growth beyond its current 28 locations, in existing and additional markets. “We’re a national company, and one of the major ways we enter a market is through acquisition, and building around that,” said Skeen. “At this point, we can go anywhere.”
Skeen did not disclose which particular markets Fitness Connection would look to expand into.
Fitness Connection was founded in 2007 with financing from WestView Capital Partners. Robert W. Baird & Co., a leading global investment bank, assisted Fitness Connection in securing the equity investment from LNK.
“[LNK’s] executives are working closely with us to help grow our brand and growth strategy,” continued Skeen.
LNK Partners, located in White Plain, N.Y., boasts a current portfolio that includes Au Bon Pain, Natural Food Holdings (Niman Ranch) and Beachbody. LNK has also worked with Staples, PVH, Quaker Oats, Pepsi, Life Time Fitness, Gatorade and Levi Strauss.
By Rachel Zabonick
