Mayfair Capital Partners acquires Baseline Fitness to write new chapter in fitness franchising
In a notable development within the fitness industry, Baseline Fitness, LLC, a premier franchise division of Planet Fitness fitness centers, has transitioned to new ownership under Mayfair Capital Partners, a division of Oxford Financial Group, Ltd. This strategic acquisition brings together Baseline Fitness’s substantial footprint in the fitness franchising domain with Mayfair’s investment expertise, aiming to bolster the growth trajectory of the fitness centers across the United States.
Freeman Spogli, a middle-market private equity firm and the previous owner, alongside Baseline’s existing management team, have retained significant minority equity stakes in the company. The management team, under the leadership of CEO Scott Majkrzak, is set to continue steering the company forward. “We are proud of what we accomplished together with the Freeman Spogli team and are excited to begin our new chapter with Mayfair Capital Partners,” said Majkrzak, emphasizing the collective achievements and the anticipated fruitful partnership with Mayfair.
Established in 2009 and headquartered in Fargo, North Dakota, Baseline Fitness has emerged as one of Planet Fitness’s largest franchisees, boasting over 100 clubs spread across the Upper Midwest, Colorado, and California. The brand has become synonymous with accessibility and inclusivity in fitness, aligning with Planet Fitness Inc.’s ethos as one of the largest and rapidly expanding fitness center franchisors globally.
The partnership with Freeman Spogli since 2017 has been pivotal for Baseline, facilitating its expansion from 22 clubs to its current size through organic growth and strategic acquisitions. This partnership not only enhanced Baseline’s market presence but also solidified its position as a key player within the Planet Fitness family, contributing significantly to the franchise’s overall growth.
The transaction’s details remain undisclosed; however, the involvement of Piper Sandler & Co. as the financial advisor and legal counsel from Morgan, Lewis & Bockius and Winthrop & Weinstine for Freeman Spogli and management shareholders, with Fredrikson & Byron representing Mayfair, underscores the strategic importance of this acquisition.
The acquisition of Baseline Fitness by Mayfair Capital Partners signifies a pivotal moment in the fitness industry, highlighting the dynamic nature of fitness franchising and the continuous quest for growth and innovation. This transaction not only reflects the value placed on strong, growth-oriented fitness franchises but also the strategic visions of both Baseline and Mayfair for future expansion and development. As Baseline embarks on this new chapter, the sustained leadership of its existing management team promises continuity and a deepened focus on providing exceptional fitness experiences to its members. Moreover, this acquisition underscores the resilience and vibrancy of the fitness industry, even as it navigates the challenges and opportunities of a rapidly evolving market landscape.