Taymax Reaches 150 Location Milestone with Strategic Growth Investment
NEW YORK & SALEM, N.H.–(BUSINESS WIRE)–Taymax Group Holdings, LP (“Taymax” or “the Company”), one of the largest Planet Fitness franchisees, today announced its acquisition of Saber Fitness (“Saber”), a leading operator of Planet Fitness clubs with 27 locations and significant future development rights throughout California. This acquisition is Taymax’s fifth since receiving a strategic growth investment from private equity firm Trilantic North America in 2018. The acquisition, in conjunction with the Company’s most recent club opening, expands Taymax’s footprint to 150 Planet Fitness locations across North America.
Founded in 2013, Saber’s Planet Fitness locations span the Greater Los Angeles, Inland Empire, San Jose and East Bay regions of California with a staff of 425 employees. The acquisition is a natural extension of Taymax’s existing operations in the Greater Sacramento area and also provides the opportunity to establish the Company’s presence in new, high-growth territories. With Saber, Taymax now employs more than 2,800 team members.
“Saber has established an impressive business that is trusted by customers and employees across California, and we are confident this addition to our platform will further solidify our commitment to offering members a non-intimidating, high-value, affordable fitness experience,” said Tim Kelleher, co-founder and CEO of Taymax, a Planet Fitness franchisee. “This partnership presents a significant growth opportunity for Taymax in attractive markets with favorable demographic trends. We are excited to expand Planet Fitness’ well-respected services to more communities across North America.”
“We are pleased to partner with the Taymax and Trilantic North America teams to support our continued growth and bring state-of-the-art, inclusive fitness clubs to a wider customer base,” said Ryan Gallagher, Partner at Saber Fitness, a former Planet Fitness franchisee.
Following Trilantic North America’s investment in 2018, Taymax has grown from operating approximately 50 locations to 150 today. Taymax’s existing locations span seven states in the U.S. and three Canadian provinces. The Company has several additional openings planned during the first quarter of 2023 with significant future development rights providing the foundation for further expansion. Taymax has recently been recognized by the Planet Fitness system as Developer of the Year three times and Franchisee of the Year.
Planet Fitness, one of the fastest-growing health club franchises in North America, is known for providing a high-quality, affordable fitness experience in a welcoming, non-intimidating environment, called the Judgement Free Zone®. As of December 31, 2022, Planet Fitness had approximately 17.0 million members and 2,410 stores in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia.
North Point Mergers & Acquisitions acted as the exclusive financial advisor to Saber Fitness on the transaction and Lathrop GPM served as its legal advisor. Kirkland & Ellis LLP provided legal counsel and Lathrop GPM acted as franchise counsel to Taymax.
Founded in 2009, Taymax is one of the largest and fastest growing franchisees within the Planet Fitness system. The Company has recently been recognized as Planet Fitness Developer of the Year three times and Franchisee of the Year. Taymax operates 150 Planet Fitness health clubs in the greater San Antonio, Nashville, Huntsville, Tallahassee, Jacksonville, Pittsburgh, Sacramento, San Jose, East Bay, Los Angeles, Inland Empire, Toronto, western Ontario, Ottawa, New Brunswick, and Newfoundland and Labrador regions. The Company is very active in community work in its markets, donating to and organizing events for organizations such as the Boys and Girls Clubs of America, the San Antonio Food Bank, various youth sports organizations across the U.S. and Canada, and other important local causes.
Founded in 2013, Saber is a leading franchisee within the Planet Fitness system. Saber opened its first club in 2014 and grew to 27 Planet Fitness health clubs across the Greater Los Angeles, Inland Empire, San Jose and East Bay regions of California.
About Trilantic North America
Trilantic Capital Management L.P. (“Trilantic North America”) is a growth-focused middle market private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the business services and consumer sectors. Trilantic North America has managed six private equity fund families with aggregate capital commitments of $9.9 billion. For more information, visit www.trilanticnorthamerica.com.
About Planet Fitness
Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of December 31, 2022, Planet Fitness had approximately 17.0 million members and 2,410 stores in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia. The Company’s mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®. Approximately 90 percent of Planet Fitness stores are owned and operated by independent business men and women.