Last Updated on June 22, 2024
Trive Capital (“Trive”), a Dallas-based private equity firm, and 808 Capital Partners (“808”), invests in JF Fitness of North America. It partners with 808 Capital Partners, based in Maui, Hawaii, for this investment. JF Fitness is a prominent Crunch Fitness franchisee. The partnership targets Southeastern US expansion and enhanced growth strategy.
About JF Fitness
JF Fitness of North America, headquartered in Richmond, Virginia, was founded in 2014 by John Freeland. The company operates 16 gyms across Virginia, Maryland, and the Carolinas. With the new investment from Trive Capital and 808 Capital Partners, JF Fitness has acquired Team Roldan, another Crunch Fitness franchisee. Team Roldan operates 8 gyms in Alabama, Georgia, and South Carolina. This acquisition makes JF Fitness one of the five largest Crunch Fitness franchisees, with a total of 24 gym locations.
The Vision for Growth
John Freeland, the CEO of JF Fitness, expressed his excitement about the partnership with Trive and 808. He emphasized that the teams share a common vision for the long-term success of the company. This vision includes executing a well-defined growth strategy, investing in key leaders and employees, and delivering a top-notch experience for gym members. Freeland believes that this partnership will help JF Fitness achieve its goals and expand its presence in the Southeastern U.S.
Support from Trive Capital
Jared Reyes, Managing Director at Trive Capital, also shared his enthusiasm for the partnership. He praised John Freeland for his dedication to investing in people, processes, and capabilities, which have contributed to the successful launch of new gyms. Reyes is confident that Trive Capital’s support will help JF Fitness build on its impressive track record and expand its club footprint in attractive Southeastern U.S. markets.
Crunch Fitness: A Growing Brand
Crunch Fitness is a rapidly growing gym chain with 2.5 million members worldwide. It is known for offering a comprehensive gym experience, including high-quality cardio, strength training, and weightlifting equipment. Crunch Fitness also provides a variety of group fitness classes, high-intensity interval training, indoor cycling, and yoga classes. Members can enjoy additional amenities such as personal training, fitness assessments, Relax & Recover® services, and childcare.
The HVLP Segment
The High-Value/Low-Price (HVLP) segment of the fitness industry, in which Crunch Fitness operates, has shown consistent long-term growth. This segment offers high-quality fitness experiences at affordable prices, making it an attractive investment opportunity. Shravan Thadani, Partner at Trive Capital, highlighted the compelling nature of the HVLP segment and expressed excitement about supporting JF Fitness as a leading operator within the fast-growing Crunch system.
Crunch Fitness’s Support
Chequan Lewis, President of Crunch Fitness, welcomed the investment from Trive and 808 Capital Partners. He believes that this support will drive further rapid growth and expansion for Crunch Fitness. The investment will help JF Fitness continue to open new gyms and make select acquisitions, further solidifying its position as a leading Crunch Fitness franchisee.
Legal and Financial Advisors
The investment and acquisition process involved several legal and financial advisors. King & Spalding LLP served as legal counsel to Trive Capital, while Roth Jackson Gibbons Condlin PLC provided legal counsel to JF Fitness. MOK Advisors acted as the financial advisor to Team Roldan.
About Trive Capital
Trive Capital is a private equity firm based in Dallas, Texas, with over $7 billion in regulatory assets under management. The firm focuses on investing in middle-market companies with the potential for significant growth through operational improvements. Trive Capital’s team consists of seasoned investment professionals who have been involved in over 100 middle-market transactions, representing more than $6 billion in revenue across various industry sectors.
About 808 Capital Partners
808 Capital Partners, based in Maui, Hawaii, is an independent sponsor led by Eric Epstein, a private equity and credit veteran. The firm focuses on consumer-focused sectors, including health, wellness, and fitness; multi-unit franchises; youth sports; and enthusiast consumer brands. 808 Capital Partners aims to support companies in these sectors through strategic investments and partnerships.
The investment by Trive Capital and 808 Capital Partners in JF Fitness of North America marks a significant milestone in the growth of the Crunch Fitness franchise. With a shared vision for success and a commitment to delivering a market-leading experience for gym members, JF Fitness is poised for continued expansion in the Southeastern United States. This partnership highlights the potential for growth in the HVLP segment of the fitness industry and underscores the importance of strategic investments in driving long-term success.
SOURCE Trive Capital
