Club Pilates Franchisee Gets $30M Investment From Snapdragon Capital
Spartan Fitness Holdings will use the funds to expand Club Pilates and to acquire and develop other health and wellness concepts.
Club Pilates franchisee Spartan Fitness Holdings has received an infusion of over $30 million from Snapdragon Capital Partners, a private equity firm that is a founding investor in Xponential Fitness.
Spartan is the largest Club Pilates franchise owner, and funds from the investment will be used to expand Club Pilates and acquire and develop other health and wellness concepts.
The franchise group opened its first Club Pilates location in Frisco, Texas, in 2019 and has since expanded to own and operate 60 Club Pilates studios in Texas, Florida, North Carolina, Ohio, Massachusetts, Missouri and Illinois.
“We are excited to partner with Snapdragon, whose team has a strong track record of supporting and growing a wide range of category-defining consumer brands, as well as intimate knowledge of Xponential Fitness,” said David Schuck, Founder and CEO of Spartan Fitness Holdings, which was recently ranked number 28 on Inc.’s southeast regional list of fastest-growing private companies in America.
Schuck, a University of North Carolina Greensboro grad, played basketball for the Spartans before playing professionally in Spain. He then transitioned into the franchisee business, starting with Liberty Tax franchises before pivoting to expanding the Club Pilates brand.
“Their investment will accelerate our expansion as we build the market-leading multi-brand health and wellness franchisee platform,” Schuck added of Snapdragon’s funding.
The investment comes after Snapdragon and Spartan first teamed up in 2021, growing six Club Pilates studios to 60 units in under two years.
Spartan Fitness also has additional units in the boutique beauty and wellness franchise space, including Hand & Stone and V/O Med Spa, which recently signed a deal with Spartan Fitness that will result in 17 new spa locations in West Florida.
