NEW YORK--(BUSINESS WIRE)--New Evolution Ventures, LLC (“NeV”), the preeminent developer and operator of health and fitness brands, and Vision Capital, the international investor, are pleased to announce the formation of a global investment partnership focused on the health, fitness and wellness industries, encompassing multiple brands that incorporate health clubs as well as nutrition, media, content and technology.
The strategy of the NeV – Vision partnership is to continue to invest in and develop the existing NeV brand portfolio as well as to make additional targeted investments in the health, wellness and fitness sector. NeV was founded in 2008 by Mark Mastrov and former 24 Hour Fitness executives Jim Rowley and Mike Feeney to focus on building, operating and investing in innovative brands and businesses within the health, wellness and fitness industries. Prior to NeV, Mark founded 24 Hour Fitness Worldwide in 1983, which he grew to the world’s largest fitness company with more than 420 clubs in the United States and Asia and revenues in excess of $1.5 billion at the time of its sale in 2005.
Mark Mastrov, Chairman of NeV, stated, “We are excited about our new partnership with Vision Capital. Vision Capital brings an innovative approach to the private equity business and we believe they will be a fantastic partner for NeV as we continue to grow our existing brand portfolio and execute on new opportunities.”
Matt Constantino, Managing Partner of Vision Capital Americas, LLC, stated, “We welcome Mark Mastrov and the exceptional team at NeV to this partnership at Vision. Their track record sets them apart as the best team in the global health and fitness industry, and with our shared commitment to innovation, we see tremendous potential for this portfolio.”
The investment in NeV marks the continuation of Vision Capital’s growth in the United States. Other investment activity in the Americas has included its September 2010 acquisition of Terphane, the leading manufacturer of speciality polyester films in Latin America, together with other hotel and industrial investments.
About Vision Capital
Vision Capital is an international investor with an innovative approach to private equity and a broad, flexible investment mandate. Vision Capital has operations in Europe and the Americas and has a multi‐sector approach with specialist expertise in financial services, industrials, consumer and retail, and business services. For further information, please visit www.visioncapital.com.
New Evolution Ventures (NeV) focuses on the acquisition, development, management and operation of fitness, media and sports entities both domestically and internationally. Co-Founded in 2008 by Mark Mastrov, Jim Rowley and Mike Feeney, the current team of NeV professionals is shaping the world of fitness, media, and sports one brand at a time. With a foundation representing over a century of business experience, NeV currently has operations and investments in over 20 countries worldwide. For more information, please visit www.nev.com.