Seattle, WA (November 16, 2023) - Rainier Partners, a private equity firm investing in lower middle-market services businesses, is pleased to announce its acquisition of Omega Fitness, a preeminent Anytime Fitness franchisee formed by the combination of businesses built by two franchise operators, Andy Gundlach and Russ Allen.
Omega Fitness is the second largest Anytime Fitness platform in the U.S. with nearly 70 gyms in Wisconsin, California, and Florida. The company will be led by Allen and Gundlach, who are widely regarded as two of the top operators in the Anytime Fitness system, as proven by their individual success thus far in a large and unconsolidated fitness franchise network. Allen and Gundlach will partner closely with Rainier to lead and expand the Omega Fitness platform while optimizing operations in already-existing clubs.
“We recognized the need for a partner with not only deep experience in the fitness industry but also resources and operational capabilities to assist with integration and future growth,” said Allen. “Rainier’s partnership-driven approach, coupled with enthusiasm for the future of our company and Anytime Fitness, solidified our confidence in this transformative alliance.”
“With an abundance of interest from the private equity community, the idea of partnering with Rainier felt right from day one,” said Gundlach. “As we look to the future, acquisitions will continue to be a key element to our growth strategy, along with building new locations across the US and implementing best practices in all of our gyms, drawing on my team’s experience and Russ’.”
Anytime Fitness was founded in 2002 and operates over 5,000 franchised locations in 50 countries. The company prioritizes consumer convenience and geographic accessibility while providing high-quality equipment, fitness classes, and other unique offerings.
“We are excited to be early investors in the Anytime Fitness system and to partner with Russ, Andy, and their teams to capitalize on the growth opportunities ahead of the company and the brand,” said Rainier Co-Founder and Managing Partner Jon Altman.
“Now having crossed the finish line of formalizing our partnership, we are eager to start implementing SUMMIT, Rainier’s value creation playbook that we use to drive long-term success for our portfolio companies,” continued Rainier’s Co-Founder and Managing Partner Alex Rolfe.
Omega Fitness is actively seeking partnerships with Anytime Fitness franchisees and other gym owners. Business owners interested in learning more should contact Pedro Belmontes, Vice President of Operations at firstname.lastname@example.org.
Perkins Coie provided legal counsel, and Fifth Third Bank acted as financial advisor to Omega Fitness.
ABOUT OMEGA FITNESS
Omega Fitness is a franchisee of Anytime Fitness clubs in the United States. With nearly 70 gyms across Wisconsin, California, and Florida, Omega is operated by two proven leaders in the Anytime Fitness franchisee space, Russ Allen and Andy Gundlach.