Harris Williams Advises Taymax Group Holdings, LLC on its Sale to Trilantic North America
Harris Williams, a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces that it advised Taymax Group Holdings, LLC (Taymax), a portfolio company of ClearLight Partners, LLC (ClearLight) on its sale to Trilantic North America. Headquartered in Salem, New Hampshire, Taymax is one of the largest and fastest growing franchisees within the Planet Fitness system. The transaction was led by Ryan Budlong, Ed Arkus, Corey Benjamin and Zach England of Harris Williams’ Consumer Group.
“We are thrilled to have advised Taymax in its sale to Trilantic North America,” said Ryan Budlong, a managing director at Harris Williams. “Under the exceptional leadership of the Taymax management team and in partnership with ClearLight, the company has emerged as one of the truly exceptional platforms and area developers in the Planet Fitness system. We look forward to watching their continued growth under Trilantic North America.”
“Taymax represents our 10th health, wellness and fitness transaction in the last 24 months and another marquee transaction for Harris Williams’ Consumer Group,” said Zach England, a vice president at Harris Williams. “We expect to continue to see robust investment in the sector, especially as health clubs continue to be a bright spot in an ever-evolving retail landscape.”
Founded in 2009, Taymax is one of the largest and fastest growing franchisees within the Planet Fitness system. The company has been recognized as Planet Fitness Developer of the year in two of the last three years and Franchisee of the Year in 2018. Taymax owns and operates 52 Planet Fitness health clubs in the greater San Antonio, Nashville, Pittsburgh, Sacramento, Toronto and Ottawa regions.
Founded in 1992 in Dover, New Hampshire, Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of March 31, 2018, Planet Fitness had approximately 11.8 million members and 1,565 stores in 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic and Panama. The company's mission is to enhance people's lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, called the Judgement Free Zone®. More than 95 percent of Planet Fitness stores are owned and operated by independent business men and women.
ClearLight is a private equity firm in Southern California that invests in established, profitable middle market companies with significant growth potential. Since inception, ClearLight has raised $900 million in capital across three funds from a single limited partner. The team at ClearLight has extensive operating and financial experience, and has a history of successfully partnering with owners and management teams to drive growth and create value.
Trilantic North America is a private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the business services, consumer and energy sectors. Trilantic North America currently manages six private equity fund families with aggregate capital commitments of $8.4 billion.
Harris Williams (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams’ Consumer Group has completed more than 50 transactions in recent years across a variety of verticals, including branded consumer products; consumer services; food, beverage and agribusiness; and restaurant and retail. For more information on Harris Williams’ Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.