M&A Deal Summary

TZP Group Acquires Snap Fitness 24/7

On January 9, 2014, private equity firm TZP Group acquired franchising company Snap Fitness 24/7 from Summit Partners

Acquisition Highlights
  • This is TZP Group’s 3rd transaction in the Franchising sector.
  • This is TZP Group’s 9th transaction in the United States.
  • This is TZP Group’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2014-01-09
Target Snap Fitness 24/7
Sector Franchising
Buyer(s) TZP Group
Sellers(s) Summit Partners
Deal Type Secondary Buyout
Advisor(s) North Point Advisors LLC (Financial)

Target

Snap Fitness 24/7

Chanhassen, Minnesota, United States
Snap Fitness 24/7 is a franchisor of compact, 24/7 fitness centers in North America, Australia, New Zealand, and India. The company offers franchisees a proven, turnkey business model and provides members a convenient and affordable workout alternative to big-box health clubs. Snap Fitness 24/7 was established in 2003 and is based in Chanhassen, Minnesota.

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Buyer(S) 1

Buyer

TZP Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

TZP Group is a private equity firm focused on the business and consumer services sectors. Specific areas of interest include franchising, outsourced business, and IT services, marketing and media services, travel content and distribution, real estate services, specialty finance, and consumer health services. TZP looks to invest $10 to $130 million in for minority or minority positions in profitable companies with at least $10 million in revenue. TZP Group was formed in 2007 and is based in New York City.

DEAL STATS #
Overall 10 of 45
Sector (Franchising) 3 of 3
Type (Secondary Buyout) 4 of 9
State (Minnesota) 1 of 1
Country (United States) 9 of 42
Year (2014) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-15 Cloud5 Communications

Springfield, Massachusetts, United States

Cloud5 Communications, Inc. is a provider of cloud-based telephony solutions, guest High-Speed Internet Access ("HSIA"), contact centers, and communication services for the hospitality industry. Cloud5’s integrated and holistic approach to communications permits hoteliers to streamline their technology infrastructure and operations, and helps hotels deliver quality care and services to their guests. Cloud5 Communications was established in 2004 and is based in Springfield, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-31 Global Employment Solutions

Littleton, Colorado, United States

Global Employment Solutions, Inc. provides Information Technology and Professional staffing services in the commercial and government markets under the brands Fahrenheit IT, ITEC and Global Employment Solutions. GES employs over 1,500 professionals with office locations in 13 markets.

Buy -

Seller(S) 1

SELLER

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1984
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.

DEAL STATS #
Overall 175 of 285
Sector (Franchising) 1 of 1
Type (Secondary Buyout) 18 of 59
State (Minnesota) 4 of 9
Country (United States) 165 of 246
Year (2014) 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Mi9 Retail

Miami, Florida, United States

Mi9 Retail is a provider of an enterprise retail merchandising, business intelligence, and store operations software. The company has developed the only enterprise-grade Merchandising and Business Intelligence solution on the market available as a single solution. Mi9 Retail was founded in 2001 and is based in Miami, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-15 Parts Town

Addison, Illinois, United States

Parts Town is a distributor of genuine OEM restaurant equipment parts for the foodservice industry. Focused on delivering a unique customer service experience and website, Parts Town customizes solutions for both chain restaurants and food equipment service companies. Parts Town partners closely with the leading manufacturers of commercial cooking, refrigeration, ice, and beverage equipment to improve their parts supply chain, delight their customers, and grow genuine parts sales. Parts Town was founded in 1987 and is based in Addison, Illinois.

Buy -
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