NASHVILLE, TN, April 10, 2023–(BUSINESS WIRE)–Snapdragon Capital Partners (“Snapdragon”), a leading private equity investment firm focused on high-growth consumer companies and a founding investor of Xponential Fitness, Inc. (NYSE : XPOF), today announced that it has invested more than $30 million in Spartan Fitness Holdings, Inc. (“Spartan” or the “Company”). The funds will initially be used to fuel the expansion of Spartan’s Pilates Club, as well as to acquire and develop other health and wellness concepts.
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Spartan is a preeminent boutique fitness platform and the largest franchise owner of the Club Pilates system. Since opening its first Pilates Club in March 2019 in Frisco, TX, Spartan now owns and operates 60 Club Pilates studios in Texas, Florida, North Carolina, Ohio, Massachusetts, Missouri and Illinois, as well as as additional units in other beauty shops and wellness franchise systems, including Hand & Stone and V/O Med Spa.
“We are thrilled to partner with Snapdragon, whose team has a strong track record supporting and growing a wide range of category-defining consumer brands, as well as an 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 and wellness franchise platform.”
“Xponential is one of the strongest partners in franchising today, and David has been a key operator of the system for several years,” said Snapdragon Managing Partner Mark Grabowski. “We look forward to supporting David’s vision for Spartan as the company continues to grow through new builds and acquisitions, while delivering a superior experience for consumers seeking health and wellness services.”
Snapdragon and Spartan first partnered in June 2021, growing the initial platform of six Club Pilates studios to 60 units in less than 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 franchise 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 were the focus, represented by Xponential Fitness, the world’s largest franchiser of boutique fitness studios, Better Being Co., a full-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 of the Club Pilates system. Spartan combines experienced industry-leading management with renowned private equity investors to create one of the world’s largest boutique fitness platforms across Club Pilates and other boutique wellness brands. Spartan currently owns and operates studios in Texas, Florida, North Carolina, Ohio, Massachusetts, Missouri and Illinois. The company has 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 reflected in its mission statement: “To impact the lives of those we touch.” For more information, please visit the company’s website at spartanfitnessholdings.com.
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contacts
Contact Spartan Fitness:
Ashley Snyder
[email protected]
Snapdragon Capital Contact:
Julia Laine Sublet
[email protected]