The new portfolio company has acquired significant territory rights as a Dogtopia franchisee and will begin selling licenses for SweatHouz infrared sauna studios
ATLANTA–(BUSINESS WIRE)–#consumerinvesting–Prospect Hill Growth Partners (“PHGP”), in partnership with Jamie Weeks, announce the formation of Legacy Franchise Concepts (“LFC”), a multi-brand platform focused on high-growth, multi-site consumer services concepts. The new company will leverage best practices in culture, marketing, finance and development to strengthen its world-class consumer brands and accelerate growth.
LFC owns and operates the global rights to SweatHouz, an innovative relaxation, wellness and recovery concept, and is now the largest area developer for Dogtopia, a leading dog daycare brand with more than 185 daycares nationally.
In conjunction with the transaction, LFC also acquired 60 Dogtopia licenses in California, Florida, Nevada, Ohio, and other select cities, adding to its 15 licenses in Oregon, with plans to aggressively open new Dogtopia locations across these markets.
“This partnership will allow us to quickly scale and implement strategies that will ultimately benefit both SweatHouz and Dogtopia, as well as future brands that we’re currently in discussions with,” says Jamie Weeks, executive chairman of LFC. “As we move forward, this new partnership gives us the chance to explore additional opportunities in the health, wellness and lifestyle sectors.”
As a result of the new partnership, which includes growth capital, SweatHouz will continue to develop corporate locations as well as begin franchising across the U.S. this summer and will also be focused on accelerating the development of the Dogtopia dog daycare centers.
This news comes on the heels of an aggressive expansion by SweatHouz throughout the country over the last year. The popular infrared sauna concept has opened new studios in Georgia, Oregon, South Carolina and Texas, with locations in Colorado and Massachusetts slated to open in the coming weeks.
“Prospect Hill Growth Partners is the preferred partner to CEOs and founders in the health, wellness and lifestyle space,” says Weeks. “PHGP has a proven track record of scale and success in these sectors, but even more notable is the way they invest in a company’s people and founders – the backbone of any brand. That’s why I’m excited about moving forward with them in this venture.”
This is Weeks and PHGP’s second partnership. Their relationship began in 2017 when PHGP invested in Honors Holdings, LLC, an Orangetheory Fitness franchisee. Together, PHGP and Weeks have grown Honors Holdings from 16 to more than 130 owned Orangetheory Fitness studios, making it the brand’s largest global franchisee.
“We’re excited to invest alongside Jamie in LFC, a platform with multiple legs for growth,” says Jeff Teschke, partner at PHGP. “The team and culture at LFC truly set the organization apart, and we look forward to accelerating growth at both SweatHouz and Dogtopia over the next several years. Our experience with both Orangetheory Fitness and Crunch Fitness will help establish a strong foundation for another world-class platform delivering exceptional consumer experiences.”
Legacy Franchise Concepts will operate as a completely separate entity from Honors Holdings. Weeks will serve as executive chairman of LFC, while maintaining his role as president and CEO of Honors Holdings.
“PHGP has had success in health and wellness and pet over the last several years, and we have conviction in the long-term trends in both categories,” says Kyle Casella, principal at PHGP. “We believe we’ve found the ideal platform to capitalize on these trends given our relationship with Jamie and the strong brands within LFC.”
This is PHGP’s third investment in the health and wellness segment and second in pet since 2017. The firm will bring its unique mix of investment and operating experience to the board, which will also include outside advisors with expertise in franchising and health and wellness.
For more information on SweatHouz franchise opportunities, please visit: sweathouz.com/franchise.
About Legacy Franchise Concepts
Legacy Franchise Concepts (LFC), a partner of Prospect Hill Growth Partners, invests in health, wellness and lifestyle brands across the franchise landscape. Founded by Jamie Weeks, Atlanta-based LFC’s portfolio includes SweatHouz infrared sauna studios and Dogtopia, the leading provider of dog daycare in North America. For more information, please visit: lfcbrands.com.
About Prospect Hill Growth Partners, L.P.
Prospect Hill Growth Partners (www.prospecthillgrowth.com) is a Boston-area private equity firm that makes control equity investments in North American consumer and healthcare growth companies. The partners at Prospect Hill have collectively invested approximately $3 billion of capital in more than 35 portfolio companies over two decades. The partners’ successful investment track record has been built on their sector-focused investment strategy and expertise, a robust operational value-add model, and strong alignment of interests.