Franchisee Jerry Pugh Acquires Workout Anytime with Minority PE Backing
April 18, 2025
Jerry Pugh, the largest Workout Anytime franchisee, acquired a majority stake in the 200-unit Workout Anytime brand from founders Steve Strickland and John Quattrocchi and became CEO. The deal was financed with minority investments from private equity firms Skyline Global Partners and Peninsula Capital Partners, plus minority stakes held by Peter Stipher (Private Capital Advisors) and Workout Anytime EVP Randy Trotter; Strickland retained a minority interest and will help with the transition.
- Buyers
- Jerry Pugh, Skyline Global Partners, Peninsula Capital Partners, Peter Stipher (Private Capital Advisors), Randy Trotter
- Targets
- Workout Anytime
- Sellers
- Steve Strickland, John Quattrocchi
- Industry
- Restaurants & Hospitality
- Location
- Georgia, United States
- Transaction Type
- Buyout
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