Harris Williams Advises United PF Partners on its Sale to American Securities
Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised United PF Partners (United PF), a portfolio company of JLM Financial Partners (JLM) and Eagle Merchant Partners, on its sale to affiliates of American Securities LLC. Headquartered in Austin, Texas, United PF is the largest and fastest-growing area developer within the Planet Fitness system. The transaction was led by Ryan Budlong, John Neuner, Ed Arkus, Zach England and Bernardo Villar of the Harris Williams Consumer Group.
“We are extremely excited to have represented United PF on its sale to American Securities,” said Ryan Budlong, a managing director at Harris Williams. “Founder and CEO Trey Owen and his team have built one of the fastest-growing platforms across the fitness industry and a leading platform within the Planet Fitness system.”
“This transaction marks another marquee transaction in the fitness sector for Harris Williams,” said Zach England, a vice president at Harris Williams. “We continue to see incredible appetite across the buyer community to invest in the fitness industry.”
Headquartered in Austin, Texas, United PF serves more than 1 million members across more than 160 locations in 14 states. United PF was founded in November 2016 through the consolidation of five leading Planet Fitness franchisee groups. It has nearly tripled its club count through a successful organic and M&A growth strategy.
Planet Fitness is one of the largest and most prolific franchisors of fitness centers in the United States. As of September 30, 2019, Planet Fitness had more than 14.1 million members and 1,899 clubs in the 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic, Panama and Mexico. 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 Judgment Free Zone®.
JLM is a private investment firm based in Austin, Texas. JLM focuses on multi-unit and scalable businesses with strong management teams and has a primary focus on companies in health and wellness, beauty, lifestyle/entertainment and recreation.
Eagle Merchant Partners is an Atlanta, Georgia-based private equity firm focused on lower-middle market companies in the multi-unit consumer, and industrial and related service sectors primarily in the Southeastern United States. The partnership is one of the most experienced private equity investors in the region, investing over $1.2 billion in 18 companies with more than $1.5 billion in revenues.
Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion and/or $50 million to $250 million of EBITDA. American Securities and its affiliates have approximately $23 billion under management.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Consumer Group has completed more than 60 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 the Harris Williams Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd 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 & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: firstname.lastname@example.org). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.