Alaris invests $60.2 mln more in Planet Fitness franchisee PFGP
Alaris Royalty Corp has invested an additional US$60.2 million in PF Growth Partners LLC (PFGP), a Timonium, Maryland-based Planet Fitness franchisee. Alaris, which first invested in 2014, provided US$43.7 million of preferred equity as well as US$16.5 million in exchange for a minority interest. Founded in 2007 by Victor Brick and Lynne Brick, PFGP operates 63 fitness clubs with over 530,000 members in Maryland, Tennessee, Florida, Washington D.C., Washington State and California. It plans to have more than 95 clubs by the end of 2024. Alaris, a Canadian alternative equity firm, said it has so far generated a 23 percent internal rate of return on its investment in PFGP.
11 July 2019•7 mins read
