Roark Capital’s Acquisition of Fitness Connection


Roark Capital was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP. Fitness Connection was advised by Jefferies LLC, Piper Jaffray & Co. and Kirkland & Ellis LLP.

Roark Capital, an Atlanta-based private equity firm focused on investing in multi-unit businesses, have acquired a majority stake in Fitness Connection from LNK Partners. Fitness Connection has over 500,000 members across its 41 health clubs in Texas, North Carolina, and Nevada. Terms of the transaction were not disclosed.

Founded in 1999, Fitness Connection is a category leader in the “High Value, Low Price” (HVLP) fitness segment, offering the full range of amenities and services of a large, full-service premium club for as low as $10 per month. Memberships include access to state-of-the-art strength / cardio equipment, functional training areas, women’s only workout areas, short-term child care, cycling studios, as well as other amenities and services. With its best-in-class value proposition, Fitness Connection holds broad appeal for consumers looking for gyms with a full range of amenities at an affordable price.

Paul, Weiss is representing Atlanta-based private equity firm Roark Capital with a team including corporate partners Jeffrey Marell (Picture) and Monica Thurmond and counsel Daniel Layfield and David Epstein; tax partners Scott Sontag and Patrick Karsnitz and counsel Mashiho Yuasa; intellectual property partner Claudine Meredith-Goujon; and antirust counsel Marta Kelly.

Kirkland & Ellis advised Fitness Connection with a team including transactional partner Chris Torrente and associates Andy Fleischman, Kristen Trofa and Lara Cohen.

Involved fees earner: Lara Cohen – Kirkland & Ellis; Andy Fleischman – Kirkland & Ellis; Christopher Torrente – Kirkland & Ellis; Kristen Trofa – Kirkland & Ellis; David Epstein – Paul Weiss Rifkind Wharton & Garrison; Patrick Karsnitz – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison; Daniel Layfield – Paul Weiss Rifkind Wharton & Garrison; Jeffrey Marell – Paul Weiss Rifkind Wharton & Garrison; Claudine Meredith-Goujon – Paul Weiss Rifkind Wharton & Garrison; Scott Sontag – Paul Weiss Rifkind Wharton & Garrison; Monica Thurmond – Paul Weiss Rifkind Wharton & Garrison; Mashiho Yuasa – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Kirkland & Ellis; Paul Weiss Rifkind Wharton & Garrison;

Clients: Fitness Connection; Roark Capital Group;

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Author: Ambrogio Visconti