The management team at WTS International, Rockville, Maryland, has sold a majority interest in the management, consulting and design services company to CI Capital Partners, according to a release by CI Capital. Terms of the transaction were not disclosed.
The management team of WTS, led by Gary Henkin who founded WTS in 1973, will continue to lead the company and is retaining "significant" equity ownership in the company, according to the release.
WTS offers services to more than 100 wellness facilities throughout the world, including fitness centers, spas and residential lifestyle facilities.
“WTS has achieved remarkable growth and has maintained its leadership position in the spa, lifestyle, fitness and wellness services industry,” Henkin said in the media release. “I am very proud of all that we have accomplished and am excited to continue the company’s growth trajectory through this partnership with CI Capital.”
CI Capital Managing Director Zubin Malkani said: “WTS is well-positioned to consolidate the fragmented wellness management and consulting sector. We are thrilled to have the opportunity to form a partnership with the management team of WTS, and we look forward to what we can accomplish together.”