National Fitness Partners Doubles NC Footprint

GNT Holdings sold 12 Planet Fitness clubs operating in Charlotte to National Fitness Partners, which is backed by Argonne Capital Group.

Argonne Capital Group’s portfolio company National Fitness Partners acquired a dozen Planet Fitness clubs in the Charlotte, N.C., metro area from GNT Holdings LLC. King & Spalding, McGuireWoods LLP, Gray Plant Mooty and Asenti Diligence Partners advised the seller, while Bishop, Dulaney, Joyner & Abner advised the buyer in this transaction.

National Fitness Partners will now operate 23 gyms in Pennsylvania, Delaware, North Carolina and South Carolina. NFP’s headquarters will remain in Harrisburg, Pa., but the firm intends to maintain an office in Charlotte, N.C., to support the newly acquired clubs.

“With these newly acquired clubs and the continued financial support of Argonne, we look forward to further expanding the Planet Fitness brand in the Carolinas and beyond,” said National Fitness Partners President Frank Kindler, in prepared remarks.  

Founded in 1992 in Dover, N.H., Planet Fitness is one of the largest franchisors and operators of fitness centers in the U.S. by number of members and locations. As of March 2017, Planet Fitness had more than 10 million members and 1,300 stores in 48 states, the District of Columbia, Puerto Rico, Canada and the Dominican Republic.

Images courtesy of Planet Fitness website