Jan 24, 2019
OT Growth Partners, LLC (“OTGP”), a portfolio company of Kian Capital, has acquired FIT Enterprise, LLC (“FIT”), the Orangetheory Fitness (“OTF”) area developer (“AR”) for the state of Iowa. The transaction is OTGP’s first acquisition since partnering with Kian Capital and expands the company’s footprint into the Midwest. Terms of the transaction were not disclosed.
FIT operates and manages 7 OTF studios throughout Iowa, with additional studios under development. Combined with FIT, OTGP operates and manages 24 OTF studios in Iowa and North Carolina.
Kristie Shifflette, CEO of OTGP, said “We are excited to execute on our strategic plan so quickly after partnering with Kian. OTGP is committed to building a leading OTF platform, and we look forward to driving continued growth in the Iowa market.”
Orangetheory® (www.orangetheoryfitness.com) makes it simple to get more life from your workout. One of the world's fastest-growing franchise companies, Orangetheory has developed a unique approach to fitness that blends a unique trifecta of science, coaching and technology that work together seamlessly to elevate participants' heart rates to help burn more calories. Backed by the science of excess post-exercise oxygen consumption (EPOC), Orangetheory workouts incorporate endurance, strength, and power to generate the 'Orange Effect' – whereby participants keep burning calories for up to 36 hours after a 60-minute workout. Orangetheory has 1,000 studios in 49 U.S. states and 18 countries and was ranked #667 in Inc. magazine's Fastest Growing Private Companies List.
Robinson Bradshaw acted as legal advisor to Kian Capital.
We are excited to execute on our strategic plan so quickly after partnering with Kian. OTGP is committed to building a leading OTF platform, and we look forward to driving continued growth in the Iowa market.
Founder & CEO of OT Growth Partners
About OT Growth Partners
OT Growth Partners, founded in 2013, is a leading Area Developer of Orangetheory Fitness franchises operating and managing 50 Orangetheory Fitness studios in North Carolina, Indiana and Iowa. Orangetheory® Fitness is a scientifically designed, one-of-a-kind, group personal training workout broken into intervals of cardiovascular and strength training. Backed by the science of excess post-exercise oxygen consumption (“EPOC”), Orangetheory's heart-rate-monitored workouts are designed to get participants within the target-training zone of 84 percent to 91 percent of their heart rate, which stimulates metabolism and increases energy. Led by highly skilled coaches, each Orangetheory Fitness workout incorporates endurance, strength and power elements through a variety of equipment including treadmills, rowing machines, TRX® suspension training and free weights.View Website