Location (January 23, 2019) – ECP-PF Holdings Group, Inc., a Planet Fitness franchisee with over 80 Planet Fitness locations across the U.S. and Canada, including 23 Planet Fitness locations in Connecticut, has announced that it acquired Cardio Express, a Connecticut chain with eight locations. Of the eight locations, the four locations in East Hartford, Manchester, Southington and Vernon will be converted into the Planet Fitness concept over the next six months, while the members of the remaining four locations have been transferred to nearby Planet Fitness locations.
Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by providing its members low-prices and unbeatable value in a relaxed Judgement Free® atmosphere that allows people of all fitness levels the opportunity to pursue an active, healthy lifestyle.
ECP-PF Holding Group, Inc’s CEO, David Humphrey said, “We’re excited about the opportunity to expand the Planet Fitness brand throughout Connecticut”. He added, “This acquisition allows us to build upon Cardio Express’ already successful locations, while adding amenities such as our Planet Fitness Black Card Spa®, free fitness training, and network of more than 1,600 locations in all 50 states.”
ECP-PF Holdings Group, Inc’s President of Connecticut Operations, Joe Pepe Jr. said, “We continue to be committed to providing an exceptional customer experience through our clean and comfortable Judgement Free Zone, and maintaining our status of being the fitness choice in each community that we serve.”
ECP-PF Holdings Group’s financial advisor was MOK Capital Advisors, LLC, an M&A advisory firm with particular expertise in the health & wellness sector.
About Planet Fitness
Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of September 30, 2018, Planet Fitness had more than 12.2 million members and 1,646 stores in 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic, Panama and Mexico. The Company’s mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®. More than 95% of Planet Fitness stores are owned and operated by independent business men and women.
About ECP-PF Holdings Group Inc.
ECP-PF Holdings Group is based in Orange, CT. It is one of the largest Planet Fitness Franchise ownership groups, currently operating more than 80 locations across Canada, Arizona, Connecticut, New Mexico and New York. It is owned by Exaltare Capital Partners, a Boston, MA based private equity firm that invests in owner-managed, family-controlled businesses in the consumer sector.
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