A newly-formed affiliate, Atlantic Holdings, a leading Planet Fitness franchisee, has partnered with Monogram Capital Partners (Monogram). The McLean Group’s franchising practice served as the exclusive advisor to Atlantic Holdings. Terms of the transaction were not disclosed.
Founded in 1992, Planet Fitness (NYSE: PLNT) is one of the largest and fastest-growing franchisors and operators of fitness centers in the US by number of members (10 million+) and locations (1,400+). More than 95% of Planet Fitness clubs are owned and operated by independent franchisees. Atlantic Holdings operates 14 Planet Fitness health clubs with rights to continue to develop parts of Miami-Dade and Broward counties in South Florida and Central California from Santa Barbara to Fresno.
Headquartered in Los Angeles, CA and founded in 2014, Monogram focuses exclusively on investing in emerging consumer and retail brands through both minority growth and control transactions. The firm seeks opportunities to partner with founders and strong management teams of high growth brands to help foster their next wave of growth. Atlantic Holdings represents the firm’s 12th investment across eight platform portfolio companies.
“We are extremely excited to be partnering with the Atlantic management team on this important next chapter of the company’s growth. Atlantic represents an attractive combination of an operating team that is executing at a very high level with the line-of-sight whitespace to scale their footprint significantly. Having worked with McLean extensively in the past and on this transaction, we’ve consistently been impressed with their in-depth knowledge of the space and their ability to find great prospective partners and support them. We look forward to doing so here,” said Jared Stein, Founder & Partner at Monogram.
Atlantic Holdings’ Managing Partners, David Bidwell and Scott Linsky, stated, “The McLean Group was an absolutely critical asset in the process of finding strong partners who are able to support our aggressive growth initiatives. McLean’s reputation, knowledge of this sector, and guidance led to a transaction outcome that exceeded our expectations. We are truly appreciative of McLean’s efforts as a part of our team and are tremendously excited about our future partnership with Monogram.”
About The McLean Group
The McLean Group’s franchising practice provides a full range of M&A advisory and capital-raising services to franchisors and multi-unit franchisees.
The McLean Group is an employee-owned investment bank that provides objective strategic and financial advice on mergers and acquisitions and business valuations. Our investment banking advisory and valuation services are built on comprehensive industry knowledge, extensive transaction experience, senior-level attention to every client engagement, and a real-time understanding of industry-specific value drivers. By partnering with clients and providing strategic advice through every phase of a company’s development, The McLean Group is uniquely positioned to support our clients’ long-term success.
