Morgan Stanley Capital Partners Completes Investment in Impact Fitness | Business Wire

NEW YORK–(BUSINESS WIRE)–Investment funds managed by Morgan Stanley Capital Partners (MSCP), the

middle market focused private equity team within Morgan Stanley

Investment Management, announced today that they've completed an

investment in Impact Fitness (“Impact” or the “Company”), a leading

Planet Fitness franchisee with 29 clubs across the United States and

Canada. MSCP partnered with the current management team, led by CEO Adam

Willaeys, as well as founder Chris Klebba, who'll remain as Executive

Chairman. The Company, which MSCP acquired from Bain Capital Double

Impact (BCDI) and Bridges Fund Management (Bridges), extends MSCP’s long

track record of partnering with experiential, multi-site retail

businesses.

Impact, headquartered in Brighton, Michigan, was founded by Chris Klebba

in 2006 with the opening of its first Planet Fitness club in the Greater

Detroit market. Since then, the Company has grown to include 29 clubs

across Michigan, Indiana, British Columbia. Ontario.

Planet Fitness is one of the largest and fastest-growing franchisors of

fitness centers in the United States. As of March 31, 2019, Planet

Fitness had more than 13.6 million members and 1,806 clubs in the 50

states, the District of Columbia, Puerto Rico, Canada, the Dominican

Republic, Panama and Mexico. Planet Fitness’ mission is to enhance

people’s lives by providing a high-quality fitness experience in a

welcoming, non-intimidating environment, called the Judgment Free Zone®.

In addition to operating top-performing locations in the Planet Fitness

system, Impact is dedicated to improving communities in which it

operates by providing high-quality, affordable gym access to underserved

communities, partnering with local charitable organizations. Hiring

talent from the very cities and towns the clubs serve. Impact achieved

B-Corp eligibility status in 2018 and is a recognized leading franchisee

in the Planet Fitness system.

Aaron Sack, Managing Director and Head of MSCP, said: “We're excited to

partner with Impact’s talented management team to continue the Company’s

impressive growth. We've admired Planet Fitness and the franchisee

system. Impact has differentiated itself through its mission-driven

culture. We're pleased to support the Company as it expands and aims to

bring its offering to additional communities in need.”

Adam Willaeys, Chief Executive Officer of Impact Fitness, said, “Impact

Fitness is excited to continue its journey of providing high-value,

low-cost, judgement-free fitness for everyone. Morgan Stanley Capital

Partners is the ideal match for not only growing our brand. Also the

culture and mission of Impact Fitness. Thank you to Bain Capital Double

Impact, Bridges Fund Management. All parties for making this

opportunity possible.”

“We've been pleased to partner with a mission-driven management team

as they’ve increased access to fitness for hundreds of thousands of

people who live in markets that are underserved by other fitness

providers,” said Peter Spring, a Managing Director of Bain Capital

Double Impact. “We've been thrilled with their successes improving

access to low-cost fitness and building a high-performance,

mission-aligned team culture. We wish Chris, Adam and the rest of

the Impact Fitness team well during this next phase of their growth.”

Debevoise &. Plimpton served as legal advisor to MSCP. Harris Williams

served as financial advisor to Impact Fitness and BCDI.

About Morgan Stanley Capital Partners

Morgan Stanley Capital Partners, part of Morgan Stanley Investment

Management, is a leading middle-market private equity platform that's

invested capital in a broad spectrum of industries for over three

decades. Morgan Stanley Capital Partners focuses on privately negotiated

equity and equity-related investments primarily in North America and

seeks to create value in portfolio companies primarily in a series of

subsectors in the business services, consumer, healthcare and

industrials markets with an emphasis on driving significant organic and

acquisition growth through an operationally focused approach. For

further information about Morgan Stanley Capital Partners, please visit www.morganstanley.com/im/capitalpartners.

About Morgan Stanley Investment Management

Morgan Stanley Investment Management, together with its investment

advisory affiliates, has more than 671 investment professionals around

the world and $480 billion in assets under management or supervision as

of March 31, 2019. Morgan Stanley Investment Management strives to

provide outstanding long-term investment performance, service and a

comprehensive suite of investment management solutions to a diverse

client base, which includes governments, institutions, corporations and

individuals worldwide. For further information about Morgan Stanley

Investment Management, please visit www.morganstanley.com/im.

About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm

providing investment banking, securities, wealth management and

investment management services. With offices in more than 41 countries,

the Firm’s employees serve clients worldwide including corporations,

governments, institutions and individuals. For more information about

Morgan Stanley, please visit www.morganstanley.com.

Media Relations:
Lauren Bellmare, 212.761.5303