EoS Fitness Secures New Investment After PE Sale
The fast-growing gym chain has received renewed backing from Performance Equity Management, which comes just months after EoS was acquired by TSG Consumer Partners
EoS Fitness, a fast-growing high-value, low-price (HVLP) gym chain recently acquired by TSG Consumer Partners, has landed a fresh investment from Performance Equity Management (PEM).
PEM first invested in EoS when private equity firm Bruckmann, Rosser, Sherrill & Co. acquired the gym chain in 2015. PEM is now re-investing with the brand in new hands under TSG.
“We’ve been proud to support EoS Fitness as it scaled into a category leader and we’re excited to continue that journey alongside TSG Consumer,” said John Clark, president of Performance Equity Management and an EoS board member. “This transaction reflects the strength of the EoS management team and the value we strive to create for our investors.”
EoS Fitness currently boasts over 175 locations either open or in the pipeline, and has said it aims to open 250 by 2030. It’s already been quite the summer for the brand, recently surpassing the 1.5 million members not long after its transfer over to TSG Consumer.
Jeff Reals, managing director at PEM, said the firm’s prior investment in EoS “delivered outstanding results for our investors and the company’s performance is a testament to strong leadership, a compelling member value proposition, and operational discipline. We are thrilled to back EoS once again in its next phase.”
Private equity funds have been a mainstay in the fitness and wellness industry since the pandemic, and that doesn’t seem likely to change anytime soon. EoS now joins Solidcore and EGYM as another brand scoring recent deals. It likely won’t be the last either, as data from the Health & Fitness Association (HFA) recently pinpointed the popularity of HVLP gyms among young Americans.