Private equity fund Topspin Partners, New York, has acquired a majority stake in Texas Family Fitness (TFF) for an undisclosed sum and has added former Gold’s Gym International President Aaron Watkins as CEO of TFF.
TFF is an operator of high-amenity, high-value health clubs in the Dallas suburbs.
“TFF is uniquely positioned in the Dallas market offering its members high-value, full-service fitness clubs at an attractive price,” Watkins said in a media release.
Topspin Partners acquired the interest in TFF from owner and founder Trevor Rogers, according to the release. Rogers will maintain a significant ownership stake in the company and will remain on the company’s board of directors, providing strategic guidance on its expansion strategy.
“I am excited about partnering with Topspin and Trevor to continue expanding TFF’s footprint,” Watkins said.
Watkins began with Gold's Gym, Dallas, in 2006 as vice present controller, moving into the CFO role in 2011. He was named president of Gold’s Gym in November 2013 and left that position in January of this year. Prior to Gold's Gym, Watkins served as CFO of Realm Business Solutions; controller at Objectspace Inc.; and vice president, controller, for Compucom Systems.
Topspin Partners makes control investments in profitable and established lower middle-market businesses. It invests across a number of industries, including health and wellness.
“We are impressed with the business and brand that Trevor has built and see great potential for expansion within the Dallas-Fort Worth market and beyond,” said Leigh Randall, managing partner at Topspin. “We look forward to working with Aaron and the company’s management team to achieve those opportunities and accelerate the company’s growth.”