M&A Deal Summary

MindBody Acquires ClassPass

On October 13, 2021, MindBody acquired consumer services company ClassPass from L Catterton Partners, Temasek Holdings and Apax

Acquisition Highlights
  • This is MindBody’s 1st transaction in the Consumer Services sector.
  • This is MindBody’s 10th transaction in the United States.
  • This is MindBody’s 3rd transaction in New York.

M&A Deal Summary
Date 2021-10-13
Target ClassPass
Sector Consumer Services
Buyer(s) MindBody
Sellers(s) L Catterton Partners
Temasek Holdings
Apax
Deal Type Add-on Acquisition

Target

ClassPass

New York, New York, United States
ClassPass connects members to a variety of fitness experiences, including yoga, cycling, pilates, barre, running, strength training, dance, sports, videos, and more with over 10,000 partners in 50 cities worldwide. ClassPass was formed in 2013 and is based in New York City.

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Buyer(S) 1

Buyer

MindBody

San Luis Obispo, California, United States
Category Company
Founded 2001
Sector Software
Employees1,000
Revenue 101M USD (2015)
DESCRIPTION

MindBody is a technology platform for the fitness, beauty and wellness services industries. Local entrepreneurs worldwide use MINDBODY’s integrated software and payments platform to run, market and build their businesses. Consumers use MINDBODY to more easily find, engage and transact with fitness, wellness and beauty providers in their local communities. MindBody was formed in 2001 and is based in San Luis Obispo, California.

DEAL STATS #
Overall 10 of 10
Sector (Consumer Services) 1 of 1
Type (Add-on Acquisition) 10 of 10
State (New York) 3 of 3
Country (United States) 10 of 10
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-03 ZeeZor

Suwanee, Georgia, United States

ZeeZor LLC is a real-time analytics and staff engagement platform for salon and spa businesses. ZeeZor was established in 2015 and is based in Suwanee, Georgia.

Buy -

Seller(S) 3

SELLER

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 84 of 101
Sector (Consumer Services) 5 of 6
Type (Add-on Acquisition) 37 of 45
State (New York) 9 of 12
Country (United States) 63 of 75
Year (2021) 12 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-11 Anthony s

Fort Lauderdale, Florida, United States

Anthony’s is a casual dining pizza and wing brand that currently operates 61 company-owned restaurant locations along the east coast, with a strong presence in Florida (28 units), Pennsylvania (12 units), and New Jersey (8 units). Anthony's was founded in 2002 and is based in Fort Lauderdale, Florida.

Sell $161M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-15 Enjoy

Palo Alto, California, United States

Enjoy is a technology-powered platform reinventing "Commerce at Home" to bring the best of the store directly to the customer. Enjoy operate mobile retail stores for our partners across the US, UK, and Canada. Enjoy was established in 2014 and is based in Palo Alto, California.

Sell -
SELLER

Temasek Holdings

Investor Investor Investor Investor Investor

Category Sovereign Wealth Fund
Founded 1974
PE ASSETS 496.6B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Temasek Holdings is a state-owned investment holding company. Temasek is owned by the government of Singapore and invests directly and indirectly in a broad range of assets and sectors. Target sectors include financial services, telecommunications, media, technology, transportation, industrials, life science, consumer, real estate, energy, and resources. Temasek was formed in 1974 and is based in Singapore.

DEAL STATS #
Overall 11 of 12
Sector (Consumer Services) 2 of 2
Type (Add-on Acquisition) 4 of 5
State (New York) 2 of 2
Country (United States) 5 of 6
Year (2021) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-29 Intapp

Palo Alto, California, United States

Intapp provides software and services that enable professional services and capital markets firms to thrive in an increasingly competitive marketplace, enhancing their ability to win more business, operate efficiently, manage risk and drive project and client success. Intapp offer a professional services platform – purpose-built for this industry – spanning the entire client life cycle, with solutions for client development, business acceptance and client delivery. Intapp was founded in 2000 and is based in Palo Alto, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-21 FTX

Saint John's, Antigua and Barbuda

FTX is a cryptocurrency exchange built by traders, for traders. It offers innovative products, including industry-leading derivatives, options and volatility products, tokenized stocks, prediction markets, leveraged tokens, and an OTC desk. FTX is based in Saint John's, Antigua.

Buy -
SELLER

Apax

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.

DEAL STATS #
Overall 158 of 171
Sector (Consumer Services) 3 of 3
Type (Add-on Acquisition) 53 of 59
State (New York) 7 of 7
Country (United States) 59 of 63
Year (2021) 12 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-06 Eating Recovery Center

Denver, Colorado, United States

Eating Recovery Center is a behavioral health provider specializing in the treatment of eating disorders. Eating Recovery Center was founded in 2007 and is based in Denver, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-20 Palex

Barcelona, Spain

Palex is a distributor of sanitary equipment and advanced hospital solutions. It has a wide portfolio of specific hospital equipment and equipment for more than 40 medical specialties, from fungible material to sophisticated diagnostic, treatment, and laboratory equipment. Palex was founded in 1955 and is based in Barcelona, Spain.

Buy -
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