Eagle Merchant Partners Invests in Aligned Fitness
Eagle Merchant Partners, also known as the Firm, has initiated its inaugural investment from Fund II by backing Aligned Fitness, a prominent franchisee of Club Pilates. This strategic partnership is aimed at enhancing growth through the development of new studios and pursuing strategic acquisitions within the fitness industry.
The Leadership Behind Aligned Fitness
Founded in 2016, Aligned Fitness is spearheaded by CEO Jon Smith, alongside founders Joe and Kerry Ruggieri. The leadership team is committed to maintaining their operational roles as they further develop the brand. Recently, Eagle Merchant Partners also executed two add-on acquisitions involving Crescent Concepts, LLC, which manages Club Pilates locations, and Next Twenty, LLC, which oversees additional studios in neighboring regions. This expansion has enlarged Aligned’s presence to a total of 34 studios in various states.
Why Club Pilates? The Appeal of the Brand
According to Jake Rubenstein from Eagle Merchant Partners, the Club Pilates system stands out as a strong opportunity within the fitness market. Its reputation as a leading brand in the pilates sector is enhanced by a dedicated community of members and robust economic performance across its studios. With a commitment to delivering a consistent and high-quality experience, Aligned Fitness is poised for significant growth.
The Boutique Fitness Industry Landscape
The boutique fitness sector, valued at $24 billion, is witnessing rapid growth, driven by an increasing consumer focus on personalized fitness experiences in the aftermath of COVID-19. Aligned Fitness intends to leverage this trend to solidify its market position further.
Capital Commitment and Fund Details
Eagle Merchant Partners recently concluded its second fund, successfully securing $415 million in capital commitments. This financial backing is instrumental in supporting Aligned Fitness's expansion efforts and solidifying its footprint in the competitive fitness industry.
Expert Advisory and Legal Counsel
As part of this venture, Aligned Fitness received advisory support from Piper Sandler, while legal counsel was provided by Williams Mullen. Simultaneously, Eagle Merchant Partners worked with King & Spalding and Miller & Martin for their respective legal needs related to this investment and the acquisitions.
Frequently Asked Questions
What is the significance of Eagle Merchant Partners' investment?
This investment signifies Eagle’s commitment to expanding Aligned Fitness and enhancing the Club Pilates brand, contributing to the growth of boutique fitness.
Who are the key leaders of Aligned Fitness?
The leadership team includes CEO Jon Smith, along with founders Joe and Kerry Ruggieri, who are pivotal in driving the company's vision.
What is the current number of studios operated by Aligned Fitness?
Aligned Fitness currently operates 34 studios across the Southeastern region, reflecting their recent growth and acquisition strategies.
What is the current market value of the boutique fitness industry?
The boutique fitness industry is valued at approximately $24 billion and continues to grow annually.
What support does Eagle Merchant Partners provide?
Eagle Merchant Partners brings operational and strategic expertise tailored for multi-unit consumer businesses, aiding Aligned Fitness in its expansion.
