Planet Fitness' single-largest franchisee, United PF Partners, Austin, Texas, on Oct. 25 announced it acquired two additional franchisees in Phoenix and New Orleans.
The Thomas group in Phoenix and the Sinopoli/Hurring/Siragusa group in New Orleans will raise United PF's club count to 78 across 10 states. United PF's investment in both groups will also "provide capital to fuel club-level improvements and organic growth through the development of new clubs in these markets," according to a media release from United PF.
“We have known both groups for a number of years, and the United PF team is thrilled to welcome the New Orleans and Phoenix groups to our growing enterprise,” United PF CEO Trey Owen said in the release. “These club groups are fast growing, high performance and will fit in nicely with our existing platform, furthering our ability to share best practices and leverage scale across all of our clubs.”
The owners of both acquired groups will retain ownership and certain leadership roles within United PF, the release said. The acquisitions will serve United PF's greater mission for "rapid organic growth and acquisitive growth in contiguous geographies."
In November 2016, two private equity firms—JLM Financial Partners and Eagle Merchant Partners—partnered to create United PF. The group oversees clubs in Alabama, Arizona, Kansas, Louisiana, Mississippi, Missouri, Oklahoma, Pennsylvania, Texas and West Virginia. It also has development rights to build clubs across the Midwest, South and Mid-Atlantic regions.
Planet Fitness, Hampton, New Hampshire, ranked seventh on Club Industry's Top 100 Health Clubs of 2017, with a 2016 reported revenue of $378.2 million. The company is the highest-ranking franchisor on the list.