The Private Equity team advised TowerBrook’s Fund V and certain of its affiliated investment funds in their agreement to acquire ECP-PF Holdings, LLC, a Planet Fitness franchisee operating 108 gyms in the U.S. and Canada. The acquisition financing was provided from a combination of sources, including equity capital contributed by the TowerBrook Funds, rollover equity contributed by the company’s senior management team and founder Omar Simmons, and first lien debt financing. The transaction closed on October 8th.
TowerBrook Capital Partners is an investment management firm that has raised in excess of $17.4 billion to date. The firm’s value creation strategy aims to transform the capabilities and the prospects of the businesses in which it invests.
For additional details on the acquisition, please read the press release.