Argonne recaps 10-unit Planet Fitness Franchisee

Argonne Capital Group LLC said April 7 that it recapitalized a 10-unit Planet Fitness franchisee located in Harrisburg, Pennsylvania. Financial terms weren’t announced. Sellers include the Kindler family and Julie Morrison, the franchisee's director of Marketing and Community Outreach. They will retain a portion in the new entity, National Fitness Partners. Planet Fitness owns and operates fitness centers in the United States. King & Spalding, McGuireWoods LLP, Gray Plant Mooty and Asenti Diligence Partners advised Argonne Capital Group. The Mclean Group and DLA Piper advised the Kindler family and other selling shareholders.

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