M&A Deal Summary

Trilantic North America Acquires Taymax Fitness Holdings

On August 1, 2018, private equity firm Trilantic North America acquired franchising company Taymax Fitness Holdings from ClearLight Partners and Riveria Investment Group

Acquisition Highlights
  • This is Trilantic North America’s 2nd transaction in the Franchising sector.
  • This is Trilantic North America’s 32nd transaction in the United States.
  • This is Trilantic North America’s 1st transaction in New Hampshire.

M&A Deal Summary
Date 2018-08-01
Target Taymax Fitness Holdings
Sector Franchising
Buyer(s) Trilantic North America
Sellers(s) ClearLight Partners
Riveria Investment Group
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co. (Financial)
Kirkland & Ellis (Legal)

Target

Taymax Fitness Holdings

Belmont, New Hampshire, United States
Taymax is a Planet Fitness franchisee with more than 100 locations across Texas, Tennessee, Alabama, Georgia, Florida, Pennsylvania, California and Ontario, Canada. Planet Fitness pioneered the high-value, low-price fitness club model and is the leading player in the segment with over 2,000 locations across North America. Taymax Fitness Holdings was founded in 2009 and is based in Belmont, New Hampshire.

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Buyer(S) 1

Buyer

Trilantic North America

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2009
PE ASSETS 9.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Trilantic North America is a mega-sized private equity firm focused on opportunities throughout North America. Trilantic generally invests in large businesses with 'strong market positions, unique franchises, secure and growing market niches or distinctive products and services that command premium prices'. Sectors of interest include business services, consumer, energy, and financial services. The Firm's target investment size is $50 to $300 million in companies valued up to $1 billion. Transaction situations of interest include management buyouts, recapitalizations, growth capital financings, divestitures, new platforms, and generational transfers. Trilantic North America was formed in 2009 through the spin-off of Lehman Brothers' private equity business. The Firm is based in New York City.

DEAL STATS #
Overall 34 of 55
Sector (Franchising) 2 of 2
Type (Secondary Buyout) 6 of 7
State (New Hampshire) 1 of 1
Country (United States) 32 of 53
Year (2018) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-07 Sunbelt Solomon

Temple, Texas, United States

Sunbelt Solomon is a provider of new and remanufactured electrical power and distribution equipment, including transformers, switchgear and circuit breakers, and related repair and field services. Sunbelt is recognized for its highly customizable solutions, technical expertise, speed of service and unparalleled standard of care, by customers across commercial, industrial and utility markets, among others. Sunbelt Solomon was founded in 1981 and is based in Temple, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-01 Elephant Oil & Gas

Dallas, Texas, United States

Elephant Oil & Gas is an independent energy company focused on the identification and development of emerging oil and gas resource plays in the continental United States. The Elephant management team is building on Elephant’s successful history of applying cutting edge technology to unlock value in the petroleum industry’s upstream sector. Elephant Oil & Gas is based in Dallas, Texas.

Buy -

Seller(S) 2

SELLER

ClearLight Partners

Newport Beach, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 900M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

ClearLight Partners LLC is a private equity firm that invests in mid-sized companies with strong cash-flow margins and limited capital intensity. ClearLight looks for US and Canadian headquartered companies with annual revenues between $25 and $250 million and EBITDA of $4 and $15 million. ClearLight targets investments across a broad range of industries with a particular interest in specialty manufacturing and distribution, business services, education and training, healthcare services, specialty finance, and consumer products and services. The Firm's target investment size is $10 to $50 million per transaction. ClearLight Partners was formed in 2000 and is based in Newport Beach, California.

DEAL STATS #
Overall 6 of 10
Sector (Franchising) 1 of 1
Type (Secondary Buyout) 3 of 3
State (New Hampshire) 1 of 1
Country (United States) 6 of 10
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-02 Paul Fredrick

Fleetwood, Pennsylvania, United States

Paul Fredrick is a designer and retailer of men’s apparel and related accessories. Paul Fredrick sells merchandise direct-to-consumers through its catalogs and website. Paul Fredrick was founded in 1986 and is based in Fleetwood, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-01 Austin Fitness Group

Austin, Texas, United States

Austin Fitness Group is a multi-unit franchisee of Orangetheory Fitness studios across Texas. AFG operates and supports 30+ owned and franchised Orangetheory Fitness locations across Austin, College Station, and San Antonio. Austin Fitness Group is based in Austin, Texas.

Buy -
SELLER

Riveria Investment Group

New York, New York, United States
Category Private Equity Firm
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

Riveria Investment Group is a private equity firm focused primarily on profitable, small to mid-sized, expansion-stage companies. The Firm targets situations where additional capital can accelerate growth. Riveria looks for transactions valued from $20 to $200 million and EBITDA of $2 to $25 million. Areas of interest include consumer products, retail, manufacturing, industrial, media/entertainment, and healthcare. In addition to growth equity transactions, Riveria will also consider management buyouts, recapitalizations, purchases of family-owned companies, corporate divestitures, and take-privates. Riveria is based in New York City.

DEAL STATS #
Overall 2 of 9
Sector (Franchising) 1 of 1
Type (Secondary Buyout) 1 of 4
State (New Hampshire) 1 of 1
Country (United States) 2 of 9
Year (2018) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-01 Fabian Couture Group

Lyndhurst, New Jersey, United States

Fabian Couture Group is a designer and wholesaler of men’s formalwear, uniforms, and accessories for the rental, retail, and hospitality markets in the United States and Canada. Fabian’s core business focuses on the design of formalwear products including tuxedos, jackets, pants, shirts, and accessories. Fabian also offers a line of uniform products that serve the restaurant, hospitality, and other industries that include jackets, blazers, trousers, vests, shirts, and accessories. Fabian Couture Group was founded in 1981 and is based in Lyndhurst, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-21 XGS

Chattanooga, Tennessee, United States

XGS is a provider of transportation and logistics services for the floor covering industry. XGS was founded in 1986 and is based in Chattanooga, Tennessee.

Sell -
Mergr

Product

Company

Legal