Planet Fitness Franchisee Puts Out Call for Acquisitions Across 9 States

Backed by Olympus Partners, Planet Fitness franchisee Excel Fitness is expanding beyond 166 clubs and targeting gyms that fit its growth model, with specific criteria spelled out

Excel Fitness, one of the largest Planet Fitness franchisees, is on the hunt for new acquisitions as it looks to expand its footprint across the U.S.

Backed by private equity firm Olympus Partners, Excel Fitness currently operates more than 166 Planet Fitness clubs. The company is targeting opportunities in Texas, Oklahoma, Arkansas, Missouri, North Carolina, Virginia, Tennessee, Georgia and Utah.

Integrity Square, an M&A advisory firm focused on the health, active lifestyle and outdoors (HALO) sector, is representing Excel Fitness in the expansion push.

The company is seeking clubs that meet specific criteria: footprints between 15,000 and 30,000 square feet in suburban or secondary growth markets, strong visibility and signage, and placement in anchored retail centers with more than 100 feet of frontage and ample parking.