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Snapdragon Capital Partners Invests Over $30 million in Spartan Fitness Holdings, LLC
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Snapdragon Capital Partners has invested over $30 million in Spartan Fitness Holdings, Inc., a leading boutique fitness platform and the largest franchise owner of Club Pilates. This investment aims to support Spartan's expansion of Club Pilates and the acquisition of additional health and wellness concepts. Since launching in March 2019, Spartan has expanded to 60 studios across several states, including Texas and Florida, and has plans for further growth with 40 area development rights. The partnership with Snapdragon, which began in June 2021, has seen rapid growth from 6 to 60 studios, with future expansion into the wellness spa sector with Hand & Stone and V/O Med Spa.
Positive
Snapdragon's investment of over $30 million will accelerate Spartan's expansion and operational capacity.
Spartan has successfully grown from 6 to 60 Club Pilates studios in under two years.
The company has secured 40 additional area development rights for future growth.
Negative
None.
NASHVILLE, Tenn.--(BUSINESS WIRE)--
Snapdragon Capital Partners (“Snapdragon”), a leading private equity investment firm focused on high growth consumer companies and a founding investor in Xponential Fitness, Inc. (NYSE: XPOF), announced today that it has invested over $30 million in Spartan Fitness Holdings, Inc. (“Spartan” or the “Company”). Funds will initially be used to fuel Spartan’s Club Pilates expansion, as well as to acquire and build other health and wellness concepts.
Spartan is a preeminent boutique fitness platform and the largest franchise owner in the Club Pilates system. Since opening its first Club Pilates in March 2019 in Frisco, TX, Spartan now owns and operates 60 Club Pilates studios across Texas, Florida, North Carolina, Ohio, Massachusetts, Missouri, and Illinois, as well as additional units in other boutique beauty and wellness franchised systems, including Hand & Stone and V/O Med Spa.
“We are excited to partner with Snapdragon, whose team has a strong track record of supporting and growing a wide range of category-defining consumer brands, as well as intimate knowledge of Xponential Fitness,” said David Schuck, Founder and CEO of Spartan. “Their investment will accelerate our expansion as we build the market-leading multi-brand health & wellness franchisee platform.”
“Xponential is one of the strongest partners in franchising today, and David has been a top operator in the system for a number of years,” said Mark Grabowski, Managing Partner of Snapdragon. “We’re eager to support David’s vision for Spartan as the Company continues to grow via new builds and acquisitions, while delivering a superior experience for consumers searching for health & wellness services.”
Snapdragon and Spartan first partnered in June 2021, growing the initial platform from six Club Pilates studios to 60 units in under two years, with another 40 area development rights to be built. The Company recently expanded into Hand & Stone and V/O Med Spa as it builds a multi-brand franchisee platform.
About Snapdragon Capital Partners Snapdragon is a private equity investment firm that partners with the founders and executives of high growth consumer companies. Health and wellness companies have been a core focus, as represented by Xponential Fitness, the largest franchisor of boutique fitness studios globally, Better Being Co., a whole-body wellness platform, and Fullscript, the healthcare industry’s largest online platform for professional supplements and integrative medicine tools. Learn more about Snapdragon here: https://snapdragoncap.com/
About Spartan Fitness Holdings, LLC Spartan Fitness Holdings, LLC is the preeminent boutique fitness platform and largest franchise owner in the Club Pilates system. Spartan combines experienced industry-leading management with renowned consumer private equity investors to build one of the largest global boutique fitness platforms across Club Pilates and additional boutique wellness brands. Spartan currently owns and operates studios in Texas, Florida, North Carolina, Ohio, Massachusetts, Missouri, and Illinois. The Company recently expanded into the boutique spa industry with its first acquisition and development agreement for Hand & Stone in Ohio and a development agreement for V/O Med Spa in Florida. Spartan believes in helping others through health, fitness and community as evidenced by its mission statement: “Impact the lives of the people we touch.” For more information, please visit the Company’s website at spartanfitnessholdings.com.
