The McLean Group Advises GSH PF Holdings on its Partnership with TSG Consumer
MCLEAN, VA – May 2018 – A newly-formed affiliate, Dowler Holdings, a leading Planet Fitness franchisee, has partnered with Sunshine Fitness Group, a franchisee of Planet Fitness backed by TSG Consumer Partners. The McLean Group’s franchising practice served as the exclusive advisor to Dowler 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 (1,500+). More than 95% of Planet Fitness clubs are owned and operated by independent franchisees. Dowler Holdings operates 20 Planet Fitness health clubs in Florida and North Carolina with rights to continue to develop within defined territories in North Carolina, South Carolina and Florida. Sunshine Fitness operated 32 clubs at the time of closing.
Founded in 1987, TSG Consumer Partners is a leading investment firm with approximately $5 billion of assets under management, focused exclusively on the branded consumer sector including the beauty, e-commerce, fitness & outdoor, food & beverage, household, lifestyle, pet and restaurant sectors. Select representative past and present partner companies include Planet Fitness (franchisor), Duckhorn Wine, nuun, Pabst, REVOLVE, Backcountry, Radio Systems, Lucky Vitamin and Sweet Water.
Glenn Dowler stated, “The McLean Group was invaluable in providing in-depth guidance on the sale of our business to TSG Consumer Partners and Sunshine Fitness Group. The partnership provides the ideal platform to further develop the Company’s footprint and capitalize on additional acquisition opportunities within the Planet Fitness system.”
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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.