M&A Deal Summary

Celerity Partners, Gemini Investors, Fletch Equity and Phoenix Strategy Investments Acquire TruFit Athletic Clubs

On September 19, 2017, private equity firms Celerity Partners, Gemini Investors, Fletch Equity and Phoenix Strategy Investments acquired consumer services company TruFit Athletic Clubs

Acquisition Highlights
  • This is Celerity Partners’ 1st, Gemini Investors’ 2nd, Fletch Equity’s 1st and Phoenix Strategy Investments’ 1st transaction in the Consumer Services sector.
  • This is Celerity Partners’ 23rd, Gemini Investors’ 79th, Fletch Equity’s 4th and Phoenix Strategy Investments’ 5th transaction in the United States.
  • This is Celerity Partners’ 2nd, Gemini Investors’ 6th, Fletch Equity’s 2nd and Phoenix Strategy Investments’ 1st transaction in Texas.

M&A Deal Summary
Date 2017-09-19
Target TruFit Athletic Clubs
Sector Consumer Services
Buyer(s) Celerity Partners
Gemini Investors
Fletch Equity
Phoenix Strategy Investments
Deal Type Recapitalization

Target

TruFit Athletic Clubs

McAllen, Texas, United States
TruFit Athletic Clubs is an operator of an independent high-value, low-cost fitness club chain. TruFit Athletic Clubs was founded in 2006 and is based in McAllen, Texas.

Search 200,500 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 4

Buyer

Celerity Partners

Los Angeles, California, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1995
Size Small
Type Sector Agnostic
DESCRIPTION

Celerity Partners is a private equity firm that has invested equity capital in the change of control transactions of private companies. Celerity Partners typically partner with business owners to provide liquidity to entrepreneur and family-owned businesses, recapitalize existing owners of independent companies or facilitate corporate divestitures. Celerity Partners will consider investment opportunities across a wide range of industries in Healthcare, Contract Manufacturing, Energy Services, Infrastructure, and Environmental Services, and Transportation & Logistics. Celerity Partners was formed in 1995 and has offices in Los Angeles and Menlo Park.

DEAL STATS #
Overall 24 of 26
Sector (Consumer Services) 1 of 1
Type (Recapitalization) 4 of 4
State (Texas) 2 of 2
Country (United States) 23 of 25
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-15 All Aboard America! Holdings

Mesa, Arizona, United States

All Aboard America! Holdings, Inc. is a provider of charter bus tours and travel services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-16 Meridien Research

Winter Park, Florida, United States

Meridien Research is a multi-specialty clinical research site company which conducts Phase I-IV inpatient and outpatient clinical trials for global, mid-sized pharmaceutical and biotech sponsors, as well as the largest contract research organizations (“CROs”). Meridien’s research covers more than 50 indications, with the range of therapeutic areas spanning central nervous system, mental health, neurology, metabolic and endocrine disorders and women’s health. Meridien Research was founded in 2000 and is based in Winter Park, Florida.

Sell -
Buyer

Gemini Investors

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gemini Investors is a middle-market private equity firm that targets investments in growing and established businesses. Areas of interest include technology, business services, consumer services, healthcare, education, manufacturing and distribution. Gemini looks for companies with $5 to $50 million in annual revenue and typically makes investments of $3 to $8 million in the form of preferred stock and/or subordinated debt. Prospective transaction types include growth capital, recapitalization and buyout situations. Gemini Investors was formed in 1993 and is based in Wellesley, Massachusetts.

DEAL STATS #
Overall 79 of 96
Sector (Consumer Services) 2 of 2
Type (Recapitalization) 18 of 21
State (Texas) 6 of 7
Country (United States) 79 of 96
Year (2017) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-31 Coventor

Cary, North Carolina, United States

Coventor, Inc. is a provider of simulation and modeling solutions for semiconductor process technology, micro-electromechanical systems (MEMS), and the Internet of Things (IoT). Coventor was founded in 1996 and is based in Cary, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-25 Corporate Caterers

Miami, Florida, United States

Corporate Caterers is a franchisor that provides catering services to a variety of customers throughout the United States. Corporate Caterers was founded in 1997 and is based in Miami, Florida.

Buy -
Buyer

Fletch Equity

Investor Investor Investor

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Fletch Equity is a private equity firm focused on the lower middle-market change of control transactions valued from $15 to $75 million. The Firm has a preference for profitable companies ($2 to $20 million of EBITDA) operating in fragmented industries and will consider opportunities throughout the US. Fletch Equity is headquartered in Los Angeles, California.

DEAL STATS #
Overall 4 of 8
Sector (Consumer Services) 1 of 1
Type (Recapitalization) 3 of 4
State (Texas) 2 of 2
Country (United States) 4 of 8
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-17 360 Physical Therapy

Chandler, Arizona, United States

360 Physical Therapy operates outpatient physical therapy clinics that treat a wide range of orthopedic, chronic pain, neuropathic, and vestibular disorders. 360 Physical Therapy was founded in 2001 and is based in Chandler, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-06 TotalCareRX

Oakland Gardens, New York, United States

TotalCareRX is a provider of specialty and long-term care pharmacy services to chronically ill patients primarily in transplant care, Cystic Fibrosis, HIV, and oncology therapeutic areas. TotalCareRX was founded in 1988 and is based in Oakland Gardens, New York.

Buy -
Buyer

Phoenix Strategy Investments

Investor Investor

Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Phoenix Strategy Investments LLC is an entrepreneurial investment company focused on small to medium-sized privately-held businesses valued below $20 million. Prospective transaction types include management buyouts and growth financings. Sectors of interest include business services, consumer services, distribution, engineering, financial services, franchising, manufacturing, and marketing. Phoenix Strategy was formed in 2002 and is based in Portsmouth, Rhode Island.

DEAL STATS #
Overall 5 of 6
Sector (Consumer Services) 1 of 2
Type (Recapitalization) 1 of 1
State (Texas) 1 of 1
Country (United States) 5 of 6
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-24 ShapeUp

Providence, Rhode Island, United States

ShapeUp, Inc. is a provider of clinically-proven, social networking-based employee wellness programs. ShapeUp has pioneered an innovative approach to behavior change that uses social networking technology to reduce health care costs and improve the health of large populations through peer motivation, support, and accountability.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Specialty Fitness & Entertainment Company

United States

Specialty Fitness & Entertainment Company provides specialty fitness, entertainment and sports training segment, with over 20 locations throughout the United States.

Buy -
Mergr

Product

Company

Legal