Prospect Hill Growth Partners Acquires Majority Stake in Fitness Ventures

Meaningful Partners Acquires Fitness Ventures (Crunch Fitness franchisee)

August 1, 2024

Restaurants & Hospitality

Meaningful Partners, a Los Angeles- and Austin-based private investment firm, has closed its acquisition of Fitness Ventures, LLC, the second-largest Crunch Fitness franchisee that operates 47 locations across 25 states. The investment (debt financed by Ares Management’s Credit Group) will support Fitness Ventures’ de novo and M&A growth strategy to scale its multi-location Crunch Fitness operations.

Fitness Ventures Acquires Three Crunch Fitness Locations in Portland

August 1, 2025

Restaurants & Hospitality

Fitness Ventures LLC has acquired three existing Crunch Fitness locations in Portland, Oregon and plans a $75 million investment to build 15 new Crunch 3.0 locations across the market over the next several years. The deal is part of Fitness Ventures' broader expansion strategy to upgrade or relocate smaller-format clubs into larger Crunch 3.0 facilities and grow its footprint in the region.

Leonard Green & Partners Acquires Majority Interest in Crunch Fitness from TPG Growth

April 15, 2025

Retail

Leonard Green & Partners has agreed to acquire a majority interest in Crunch Holdings, LLC (Crunch Fitness) from TPG Growth and Crunch's minority shareholders. The investment will support Crunch's continued domestic and international expansion of its franchise and corporate gym footprint—Crunch operates over 500 gyms and serves more than three million members worldwide.

North Castle Partners Invests in CR Fitness (Crunch Fitness Franchisee)

July 11, 2019

Healthcare Services

North Castle Partners has made a strategic growth investment in CR Fitness, a leading Crunch Fitness franchisee headquartered in Brandon, Florida, to accelerate club expansion across the U.S. Terms were not disclosed; CR Fitness operates roughly 20 clubs in Florida and Atlanta and plans to pursue aggressive expansion (greenfield and acquisition) toward a ~100-club goal.

TPG Growth and Crunch Fitness Management Acquire Crunch Fitness

July 1, 2019

Healthcare Services

TPG Growth partnered with Crunch Fitness management to acquire Crunch Fitness, including its company-owned "Signature" facilities and global franchising business. Financial terms were not disclosed; the partnership aims to accelerate Crunch's franchise expansion and enhance its capabilities to grow the brand internationally.

Sixth Street Makes Strategic Growth Investment in CR Fitness Holdings

October 23, 2025

Healthcare Services

Sixth Street has made a strategic growth investment in CR Fitness Holdings, the largest Crunch Fitness franchisee, to support aggressive club expansion and member-experience initiatives. North Castle Partners remains the largest shareholder and Golub Capital provided a new senior debt facility to support the transaction.