M&A Deal Summary

TSG Consumer Partners Acquires Eos Fitness

On May 12, 2025, private equity firm TSG Consumer Partners acquired consumer services company Eos Fitness from BRS, Stellus Capital Management and Performance Equity Management

Acquisition Highlights
  • This is TSG Consumer Partners’ 6th transaction in the Consumer Services sector.
  • This is TSG Consumer Partners’ 52nd transaction in the United States.
  • This is TSG Consumer Partners’ 4th transaction in Texas.

M&A Deal Summary

Date 2025-05-12
Target Eos Fitness
Sector Consumer Services
Buyer(s) TSG Consumer Partners
Sellers(s) BRS
Stellus Capital Management
Performance Equity Management
Deal Type Secondary Buyout

Target

Eos Fitness

Dallas, Texas, United States
Eos Fitness is a fitness club chain offering a full range of fitness club amenities, including cardio and strength-training equipment, personal training, group exercise, spinning, cardio theaters, women’s-only rooms, locker rooms, saunas, steam rooms, child care, and 24-hour access. Eos Fitness was formed in 1985 and is based in Dallas, Texas.

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Buyer(S) 1

Buyer

TSG Consumer Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 14.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

TSG Consumer Partners (formerly known as The Shansby Group) is a specialist private equity firm focused on acquiring and building mid-sized, branded consumer companies. TSG invests in private and publicly traded companies, and will consider both majority and minority equity positions. Specific sectors of interest include apparel, beauty, e-commerce, personal care, retail, food/beverages, restaurants, health/wellness, household products, and pet care. TSG looks for companies with sales between $20 million and $1.5 billion and can invest commit up to $500 million per transaction. TSG Consumer Partners was formed in 1987 and is based in San Francisco, California.


DEAL STATS #
Overall 57 of 62
Sector: Consumer Services M&A 6 of 6
Type: Secondary Buyout M&A Deals 13 of 13
State: Texas M&A 4 of 5
Country: United States M&A 52 of 55
Year: 2025 M&A 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-09 Backcountry

Park City, Utah, United States

Backcountry is an online specialty retailer of premium outdoor sports gear and apparel. The company is known for its commitment to providing premium products and services tailored to a variety of recreational pursuits—skiing, snowboarding, biking, running, camping, hiking, climbing, paddling, fishing, and beyond. Backcountry was founded in 1996 and is based in Park City, Utah.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-23 DUDE Wipes

Chicago, Illinois, United States

DUDE Wipes is a manufacturer of toilet paper. DUDE Wipes was founded in 2011 and is based in Chicago, Illinois.

Buy -

Seller(S) 3

SELLER

BRS

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

BRS is a private equity investment firm that specializes in management buyouts and recapitalizations of middle-market companies with strong market positions and growth potential. Broad areas of interest include consumer products, consumer services, food/nutrition, restaurants, retail, and distribution. BRS looks to commit $10 to $25 million per transaction. BRS was formed in 1995 and is based in New York, New York.


DEAL STATS #
Overall 37 of 37
Sector: Consumer Services M&A 2 of 2
Type: Secondary Buyout M&A Deals 14 of 14
State: Texas M&A 3 of 3
Country: United States M&A 35 of 35
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-21 Organika Health Products

Richmond, British Columbia, Canada

Organika Health Products is a provider of natural solutions to help people live healthier. The company has introduced products in fast-growing categories such as collagen, bone broth, medicinal mushrooms, and other functional foods. Organika Health Products was formed in 1990 and is based in Richmond, British Columbia.

Sell -
SELLER

Stellus Capital Management

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 3.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stellus Capital Management is a provider of debt and equity capital to middle-market companies headquartered throughout the US and Canada. For credit commitments, Stellus looks to provide $10 to $50 million of capital to help support buyouts, acquisitions, recapitalization, growth opportunities, rescue financing, distressed situations, as well as bridge loans. Sectors' of interest for Stellus' credit practice includes business services, energy, general industrial, government, healthcare, software and specialty finance. Stellus' equity practice seeks to provide $20 to $100 million to small and mid-sized energy (upstream, oilfield services, midstream) companies. Stellus Capital was originally formed in 2004 as Laminar Direct Capital and operated as the direct investing unit of D.E. Shaw. The Group became independent in 2012. Stellus has offices in Houston, New York City, and Washington DC.


DEAL STATS #
Overall 7 of 7
Sector: Consumer Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 4 of 4
State: Texas M&A 3 of 3
Country: United States M&A 7 of 7
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-18 Strategus

Centennial, Colorado, United States

Strategus is a provider of high-performance connected TV ("CTV") advertising campaigns serving digital agency and direct brand clients. The Company is a premier provider of programmatic CTV and omnichannel marketing campaigns. Strategus was founded in 2013 and is based in Centennial, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-10 SOLID

Charlotte, North Carolina, United States

SOLID is a provider of surface maintenance and restoration services primarily for Class A commercial real estate properties. SOLID Surface Care was founded in 1996 and is based in Charlotte, North Carolina.

Buy -
SELLER

Performance Equity Management

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 8.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Performance Equity Management is a global private equity and asset management firm focused on opportunities in the US, Europe, Asia Pacific, and emerging markets. The Firm generally pursues fund investments but will also participate in select direct or co-investment opportunities. Performance Equity Management was established in 2005 and is headquartered in Greenwich, Connecticut.


DEAL STATS #
Overall 1 of 1
Sector: Consumer Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-12 Complete Merchant Solutions

Orem, Utah, United States

Complete Merchant Solutions is a full-service electronic payments solutions provider. The company facilitate electronic payment processing for all major Credit & Debit cards; Gift & Loyalty cards; ACH, Remote Deposit Capture as well as other non-cash payment methods. Complete Merchant Solutions was founded in 2008 and is based in Orem, Utah.

Buy -