Largest Planet Fitness Franchisee Becomes First to Operate Over 100 Locations, Commemorates Second Anniversary and Rounds Out Leadership Team

AUSTIN, Texas, Nov. 29, 2018 /PRNewswire/ — United PF Partners (United PF), the largest Planet Fitness (NYSE: PLNT) franchisee, recently reached a key milestone as they officially became the first franchisee in the system to own and operate more than 100 Planet Fitness clubs. Additionally, this month United PF Partners celebrated its second anniversary.

United PF was formed two years ago, in November 2016, by JLM Financial Partners (JLM) and Eagle Merchant Partners (Eagle) with the merger of several leading Planet Fitness franchisees and the overall goal of accelerating growth and further providing access to non-intimidating fitness environments where members can build active lifestyles for an affordable price. Today, United PF has grown to 110+ clubs across 10 states, employs over 1,500, and serves over 850,000 members. 

“It has been rewarding to see our team’s hard work payoff. We’ve experienced a lot of fast-paced growth in the last two years,” said Trey Owen, CEO of United PF. “The strength of the Planet Fitness brand speaks for itself, and our team is thrilled to expand and further the vision of creating workout environments where everyone feels comfortable, accepted, and respected.”

Primed for strong continued growth, United PF has consistently added talent and experience to its robust leadership team of Trey Owen, CEO, Shelli Taylor, President & COO, Matt McQuinn, CMO, and Gale Sloan, VP of People & Culture. The most recent additions include Brian Kelly as CFO, who comes to United PF with over 20 years of success in the finance world, most recently at Kendra Scott, as well as Tracy Toomer, who joined the team as VP of Operations, after nearly 20 years of retail experience at companies including Starbucks.

This leadership team brings a depth of fitness and multi-unit industry experience to the organization and the board. The board, which includes members of JLM and Eagle, possesses deep multi-unit franchise and development experience. United PF’s team, resources, and scale will continue to provide the opportunity for high quality clubs, rapid organic growth, new club expansion, and a premium, judgement free experience for its members.

In addition to strong business performance, United PF continues to lead in their philanthropic commitment to the Boys and Girls Clubs of America. United PF leadership and staff donate time and effort within individual communities on top of financial support. United PF has committed over $300,000 in 2018 alone including a $100,000 pledge to commemorate the 100 club milestone.

“We have been incredibly impressed by this growth-oriented franchisee, as they continue to hit these milestones, grow their leadership team, and expand the footprint of the Judgment Free Zone®,” said Chris Rondeau, CEO, Planet Fitness. “We look forward to their sustained success and welcoming more members across the country to experience our high-quality, welcoming environment.”

For more information on Planet Fitness, please visit www.PlanetFitness.com or follow the Planet Fitness Facebook (www.facebook.com/PlanetFitness) and Twitter (www.twitter.com/PlanetFitness)

About United PF Partners
United PF Partners is the largest Planet Fitness franchise group with 110+ locations across Alabama, Arizona, Kansas, Louisiana, Mississippi, Missouri, Oklahoma, Pennsylvania, Texas, and West Virginia.  United PF has development rights to build new clubs across the Midwest, South, Mid-Atlantic, and Southwest regions.

About Planet Fitness
Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of September 30, 2018, Planet Fitness had more than 12.2 million members and 1,646 stores in 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic, Panama and Mexico. The Company’s mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®. More than 95% of Planet Fitness stores are owned and operated by independent business men and women.

About JLM Financial Partners
JLM Financial Partners is a private investment firm based in Austin, Texas. JLM focuses on multi-unit and scalable businesses with strong management teams and has a primary focus on companies in health and wellness, beauty, lifestyle / entertainment, as well as recreation. For more information, visit: www.jlmfinancialpartners.com.

About Eagle Merchant Partners
Eagle Merchant Partners is an Atlanta, Georgia based private equity firm focused on lower middle market companies in the multi-unit consumer, logistics and industrial sectors in the Southeastern United States. The partnership is one of the most experienced private equity investors in the region, investing in seventeen companies with more than $1.5 billion in revenues. For more information, visit: www.eaglemerchantpartners.com.

Largest Planet Fitness Franchisee Accelerates Growth

Austin, TX (September 5, 2018) – United PF Partners (United PF), the largest Planet Fitness (NYSE: PLNT) franchisee, has acquired 19 Planet Fitness locations in the Phoenix market, increasing its operating club count to 108 clubs across 10 states. 

United PF was formed by JLM Financial Partners (JLM) and Eagle Merchant Partners (Eagle) in November 2016 with the merger of several leading Planet Fitness franchisees.

Founded in 1992 in Dover, N.H., Planet Fitness is one of the largest and fastest growing franchisors and operators of fitness clubs with more than 1,600 clubs and over 12 million members. Planet Fitness prides itself on providing a high-quality experience at an exceptional value and being the home of the Judgement Free Zone®, where members experience a hassle-free, non-intimidating environment.

In addition to recapitalizing the ownership of the Phoenix club group, the investments from United PF will provide capital to fuel club-level improvements and growth through the development of new clubs in these markets. United PF’s resources and scale will continue to provide the opportunity for rapid organic growth and acquisitive growth in contiguous geographies.

“We have known and admired the Phoenix group for several years and the United PF team is thrilled to welcome the Phoenix clubs to our growing enterprise,” said Trey Owen, CEO, United PF. “This fast-growing group and high-performing team will fit nicely with our existing family of clubs, furthering our ability to share best practices and leverage scale across all of our clubs.”

United PF is a growth-oriented franchisee with significant room for new club expansion under its area development agreements. This partnership, led by Owen, brings a depth of fitness and multi-unit industry experience to the leadership team and the board. The board, which includes members of JLM and Eagle, possesses deep multi-unit franchise and development experience. 

Financing for United PF was jointly led by Goldman Sachs Specialty Lending Group and AB Private Credit Investors, co-agents and co-lead arrangers, and Antares, co-lead arranger.

About United PF Partners

United PF Partners is the largest Planet Fitness franchise group with 108 locations across Alabama, Arizona, Kansas, Louisiana, Mississippi, Missouri, Oklahoma, Pennsylvania, Texas, and West Virginia.  United PF has development rights to build new clubs across the Midwest, South, Mid-Atlantic, and Southwest regions. 

About Planet Fitness

Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of June 30, 2018, Planet Fitness had approximately 12.1 million members and 1,608 stores in 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic, Panama, and Mexico. The Company’s mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone^®. More than 95% of Planet Fitness stores are owned and operated by independent business men and women.

About JLM Financial Partners

JLM Financial Partners, an affiliate of JLM Financial Investments, is a private investment firm based in Austin, Texas. JLM focuses on multi-unit and scalable businesses with strong management teams. They currently have investments in healthcare, health and wellness, beauty, the fitness industry and real estate. For more information, visit: www.jlmfinancialpartners.com.

About Eagle Merchant Partners

Eagle Merchant Partners is an Atlanta, Georgia based private equity firm focused on lower middle market companies in the multi-unit consumer, logistics and industrial sectors in the Southeastern United States. The partnership is one of the most experienced private equity investors in the region, investing in seventeen companies with more than $1.5 billion in revenues. For more information, visit: www.eaglemerchantpartners.com.

Investment in Recreational Group Capitalizes on Fast-Growing Industry

Atlanta, GA (August 13, 2018) – Eagle Merchant Partners and JLM Financial Partners have closed their investment in the Recreational Group, a leading provider of residential and commercial recreational surfacing products across the country.

The move capitalizes on the rapidly-growing artificial turf and sports surfacing industry, with products used across a wide range of markets and customers. Founded in 1998, Recreational Group has grown to more than $45MM in sales through strategic acquisitions and organic growth. The recreational surfacing industry has become more popular as it is environmentally sustainable, affordable and maintenance free, which has driven both residential and commercial uses. It allows families to spend more time together in their backyards and less time working in the yard, and allows places like early childhood development centers and schools to have versa-tile, safe and trouble-free play areas.

“Partnering with Eagle/JLM allows Recreational Group to aggressively pursue organic and acquisitional growth,” said Steve White, Founding Partner and Executive Chairman, Recreational Group. “We’ve built a strong foundation for success across all our divisions and now have the financial resources to pursue opportunities as they are presented. Importantly, the architecture of this deal offers our employees no disruption, and room for personal advancement within the organization as we continue to grow.”

“This is a rapidly growing industry, and because of the leadership of Steve White and Ron Bennett and the experience and resources our partnership brings to the table, Recreational Group is poised to continue to lead the market and expand,” said Jeff Ezell, Managing Director, JLM Financial Partners. “This senior management team is among the best in the business. That continuity makes this deal the ultimate win-win.”

“The fragmented recreational surfacing space needs a consolidator to bring consistent quality and service to the market,” said Recreational Group President and CEO Ron Bennett. “I look forward to utilizing the Recreational Group platform and working with Eagle/JLM to bring smart consolidation of the best suppliers and operators we can find. Among our strengths are adding value through capitalization, marketing, back office and expanded networks for smaller operators.”

The investment from Eagle and JLM will provide capital to fuel continued organic growth through new equipment, enhanced sales and marketing efforts, and continue to build out the management team, systems and infrastructure to support the expanding organization. Addition-ally, Recreational Group’s capitalization and scale will provide the opportunity for acquisitive growth in contiguous geographies, end markets and products.

“We made our investment based on the opportunities in the tile and turf market, and our confidence in the RG management team and the organization they have built,” said Bill Lundstrom, Partner, Eagle Merchant Partners. “We will be looking for add-on acquisitions in the recreational surfacing and products space to complement the company’s momentum.”

Financing for Recreational Group was provided by SunTrust and PNC Erieview.

About RG

RG is a leading provider of recreational surfacing products including artificial turf used for playground, golf and landscaping needs, outdoor and indoor sport tile, garage tile, wood flooring, and safety foam for use underneath synthetic turf. Learn more by visiting www.recreationalgroup.com.

About EagleMerchant Partners

Eagle Merchant Partners is an Atlanta, Georgia based private equity firm focused on lower middle market companies in the multi-unit consumer, logistics and industrial sectors in the South-eastern United States. The partnership is one of the most experienced private equity investors in the region, investing in sixteen companies with more than $1.5 billion in revenues. For more in-formation, visit www.eaglemerchantpartners.com.

About JLM Financial Partners

JLM Financial Partners, an affiliate of JLM Financial Investments, is a private investment firm based in Austin, Texas. JLM focuses on multi-unit and scalable businesses with strong management teams. They currently have investments in healthcare, health and wellness, beauty, the fitness industry and real estate. For more information, visit http://www.jlmfinancialpartners.com.