Morgan Stanley Capital Partners has acquired Brighton-based Impact Fitness, a leading Planet Fitness franchisee, from Boston-based Bain Capital's $390 million Double Impact Fund and UK investor Bridges Fund Management.
Impact Fitness operates 29 clubs across Michigan, Indiana, British Columbia and Ontario. It was founded by Chris Klebba in 2006 with the opening of the first Planet Fitness club in the Greater Detroit market. Klebba will remain as executive chairman.
“We are excited to partner with Impact’s talented management team to continue the company’s impressive growth,” Aaron Sack, managing director and head of Morgan Stanley Capital Partners, said in a statement. “We have admired Planet Fitness and the franchisee system, and Impact has differentiated itself through its mission-driven culture. We are pleased to support the company as it expands and aims to bring its offering to additional communities in need.”
Impact Fitness CEO Adam Willaeys added, “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, but also the culture and mission of Impact Fitness.”
Morgan Stanley Capital Partners, part of Morgan Stanley Investment Management, is a middle-market private equity platform that has invested capital in a broad spectrum of industries for over three decades.