Partnership Capital Growth Acts As Sole Advisor to Fitness World for Acquisition by Angelo Gordon
SAN FRANCISCO, CA (January 11, 2009) - Partnership Capital Growth, a full-service, boutique investment bank that focuses exclusively on the healthy, active and sustainable living marketplace, announced that Angelo Gordon acquired H&C Management Consultants, Ltd. dba Fitness World in partnership with New Evolution Fitness, Steve Nash Sports Club, Fitness World founder Henry Polessky, and Fitness World senior management.
Founded in 1959, Fitness World is the most prominent brand in Vancouver fitness. With over 100,000 members and now 15 clubs spanning from Delta to Langley, the company offers convenience, versatility and a value commitment resulting in six years of being named the “No. 1 Fitness Club in the Lower Mainland” by Vancouver Magazine. The transaction included a merger with the Steve Nash Sports Club and rebranding to Steve Nash Fitness World, which will continue to operate unique separate brands and offer the most comprehensive and largest chain of fitness clubs in British Columbia.
"Acquiring Fitness World, the largest brand in the B.C. market, allows us to cover all levels and price points while giving us the foothold to expand into the largest fitness brand in B.C.," said New Evolution's Mark Mastrov, who is also a partner in the Steve Nash Sports Clubs.
“Steve Nash and Mark Mastrov are two of the most important names in fitness and undoubtedly the right team to continue the Fitness World legacy,” said Brent Knudsen, Managing Partner of Partnership Capital Growth. “The organizational strength of Fitness World coupled with the expertise of Angelo Gordon and New Evolution Fitness provide the ideal foundation for ongoing success and growth.”
Source: Partnership Capital Growth
