HOUSTON--(BUSINESS WIRE)--Afterburn Holdings (“Afterburn”), a leading Orangetheory® Fitness franchisee, has expanded into the southeast United States with the recent acquisition of eight owned studios, 19 additional subfranchised studios, and area development rights in the southwest Florida market including Tampa, Fort Myers, and Naples.
With this recent acquisition, Afterburn operates 30 studios and oversees more than 20 additional subfranchised studios. Afterburn has more than doubled its studio footprint since the end of 2018 through acquisitions and six new studio openings across southwest Florida and its existing Houston market.
Jim Potesta, President and CEO of Afterburn Holdings, stated, “We are excited to bring the growing fitness market of southwest Florida into the Afterburn family. We look forward to working with their team to leverage best practices across all of our studios and continue delivering a great Orangetheory Fitness experience to members.”
Orangetheory Fitness, the science-backed, technology-tracked, coach inspired global fitness franchise, launched its first studio in Fort Lauderdale, Florida in March 2010, and has transformed into one of the world's top fitness brands, with 1,300 studios across all 50 states and 23 countries, with 500+ studios in the development pipeline. Orangetheory Fitness was ranked at No. 1 on Franchise Times’ Fast & Serious list, which recognized the company as the smartest-growing brand in the industry. Each Orangetheory Fitness class is taught by a highly trained coach who conducts personalized group sessions utilizing treadmills, water rowing machines, mini bands and TRX® suspension unit systems, as well as free weights and benches. Classes utilize technology which allows members to capture real-time performance data, measure their overall workout results, and set new goals.
Chris Reekie, principal at Brentwood, commented, “Since partnering at the end of 2018, Jim and the Afterburn management team have continued to drive impressive momentum in the business. Key territory acquisitions like southwest Florida make Afterburn a leading franchisee with operational expertise in the Orangetheory Fitness system. We look forward to seeing the Afterburn platform grow the member experience in existing and new markets.”
Burr & Forman LLP served as legal counsel to Afterburn for the acquisition. The sellers of the southwest Florida area representative were represented by Murray, Morin & Herman, PA as legal counsel.
ABOUT AFTERBURN HOLDINGS
Afterburn Holdings is a leading franchisee and area representative of Orangetheory Fitness, founded in 2013 and headquartered in Houston, Texas. The Company operates and oversees over 50 Orangetheory Fitness studios.
ABOUT ORANGETHEORY® FITNESS
Orangetheory® (www.orangetheoryftness.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 franchisees have opened over 1,300 studios in all 50 U.S. states and over 23 countries. The company was ranked #60 in Inc. magazine’s Fastest Growing Private Companies list and was listed as #25 on the 2019 Entrepreneur Franchise 500 list.
ABOUT BRENTWOOD ASSOCIATES
Brentwood Associates is a middle-market private equity investment firm with a 30+ year history of investing in leading growth companies. Brentwood focuses on investments in growing businesses where it can leverage its extensive experience in areas such as: consumer products and services; multi-location growth strategies, including specialty retail and restaurants; direct marketing, including direct mail and e-commerce; health and wellness; education; and business services. Since 1984, Brentwood’s dedicated private equity team has invested in over 50 portfolio companies with an aggregate transaction value of over $6 billion. With significant experience in both investing and brand building, Brentwood is a value-added partner with entrepreneurs and senior management teams building world-class companies. For more information about Brentwood, please visit www.brentwood.com.