US Fitness Holdings acquires Sport & Health
US Fitness Holdings ("US Fitness") has added Sport & Health to its portfolio of clubs, creating one of the largest health club companies in the country. Since 1973, Sport & Health Clubs have grown to be Washington's largest family of full-service health clubs and day spas and it is No. 13 on Club Industry's Top 100 Clubs list with an estimated 2013 revenue of USD 106.1 million. The company is led by of Mark Fisher (CEO) and Scott Thomas (CFO). US Fitness operates Onelife Fitness and Crunch Fitness clubs throughout Virginia and Washington, DC under the leadership of Kirk and John Galiani.
Kirk and John Galiani will be the Co-Executive Chairmen of US Fitness and Mark Fisher and Scott Thomas will be named CEO and CFO, respectively. The management team will utilize their experience to continue the growth of US Fitness in existing and contiguous markets. Kirk and John Galiani commented: "Sport & Health provides us with a broad platform in a major metropolitan area, an experienced management team, and infrastructure to accelerate our growth through Greenfield expansion and acquisition." "The Galianis purchased, built and later sold Gold's Gym International, realizing the first major exit in the industry. Now with the growth of US Fitness they are once again one of the dominant health club operators in the country," said Mark Fisher.
The Galiani brothers and their Onelife Fitness brand partnered with New Evolution Ventures (NEV), which has an interest in many health club brands throughout the world including Crunch, UFC Gym, Hard Candy Fitness, Energy Fitness, and others, to form US Fitness in 2011. NEV was established in 2008 by Mark Mastrov, founder of 24 Hour Fitness, Jim Rowley and Mike Feeney.
After the acquisition of the Sports Club/LA clubs operated by Millennium Partners Sports Club Management, Boston by Equinox, New York and the acquisition of The Rush Fitness Complex, Knoxville, TN by Gold's Gym, Dallas this is the third major deal in the US health and fitness industry in the last month.
Source: US Fitness Holdings, Club Industry
Picture: Sport & Health