Advertisement
North Castle Partners acquired the assets of World Health Club in March2008. Doug Lehrman, Managing Director at North Castle, stated, "We areexcited about the opportunity to acquire a strong operator like CLUBFIT. Theacquisition represents an important step in achieving our long-term strategicvision of establishing International Fitness Holdings as the leading fitnessclub operator in Western Canada."
Advertisement
As a result of the transaction, International Fitness Holdings, Inc.currently operates 19 fitness clubs under the World Health Club and CLUBFITbrand names across the province's two largest cities, Calgary and Edmonton,with 9 clubs and 10 clubs located in each city, respectively. The Companyprovides health clubs services to approximately 65,000 members offeringfitness memberships and other ancillary services including personal trainingand group fitness classes. The member value proposition is based on three keycompetitive drivers: value, convenience and loyalty.
"The combination of these two market leaders will significantly strengthenour presence in the Alberta market. We look forward to implementing bestpractices from both World Health Club and CLUBFIT throughout our organizationand improving upon our business model as we continue to expand into themarketplace," said Rob Leach, CEO of International Fitness Holdings, Inc.
David Hardy, President of CLUBFIT has maintained a significant portion ofhis investment in International Fitness Holdings, Inc. and will serve as aconsultant to the Company and assume a position on its Board of Directors.Blake MacDonald, COO of CLUBFIT, will continue with his responsibilitiesrunning the CLUBFIT operation in Edmonton.
This is North Castle's fifth investment in the past year. In addition tothe World Health Club and CLUBFIT investments, North Castle has acquired acontrolling interest in Cascade Helmet Holdings, Atkins Nutritional Holdings,Inc. and Performance, Inc.
The Mercanti Group LLC (www.mercantigroup.com) provided financial advisoryservices to Club Fit.
About World Health Club
World Health Club is Alberta's leader in offering convenient andaffordable fitness services. The Company is built on the philosophy of greatservice, convenient locations, state-of-the-art equipment and knowledgeablestaff, all for an affordable price. The Company's goal is to be a part of ourcommunity by helping people to live healthy and active lives. With 14 clubs inAlberta to serve its community, we are changing lives each and every day.Learn more about World Health Club at www.worldhealthclub.com .
About CLUBFIT
CLUBFIT is a leading operator of 5 fitness clubs in the city of Edmontonin the province of Alberta. The CLUBFIT brand has been prominent in Edmontonfor over 20 years and has generated significant goodwill in the fitnessindustry. The Company is built on a philosophy of providing greatenvironments for its members and staff, convenient locations, state-of-the-artequipment and world class programs, all for an affordable price. CLUBFIT hasbeen voted the #1 fitness facility in Edmonton by Consumer's Choice Awards forfour years in a row. Learn more about CLUBFIT at www.clubfit.ca .
About North Castle Partners
North Castle Partners is a leading private equity firm focused exclusivelyon investments in consumer-driven product and service businesses that benefitfrom "Healthy Living and Aging" trends. North Castle is a hands-on,value-added investor in high-growth, middle market c
