NEW YORK, Jan. 6, 2020 /PRNewswire/ -- American Securities LLC, a leading U.S. private equity firm, announced today that it has completed an investment in United PF Holdings, LLC ("UPF" or the "Company"), a leading Planet Fitness franchisee with 168 gyms across the United States. In the transaction, American Securities partnered with the current UPF management team, led by CEO and founder Trey Owen. The Company, which American Securities acquired from JLM Financial and Eagle Merchant Partners, continues American Securities' long history of supporting leading multi-unit consumer services retail businesses. Financial terms of the transaction were not disclosed.

Planet Fitness is one of the largest and fastest-growing 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. Planet Fitness' 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®.

Trey Owen, CEO of United PF, commented, "Our Company has experienced tremendous growth in recent years, and we have invested in building our team and infrastructure to support further expansion. In American Securities, we have found a partner with resources to support our vision, alignment in culture and values, and a long-term time horizon that promotes true partnership. We are excited to work with American Securities to continue developing our markets and bringing affordable fitness and the Judgement Free Zone® to more communities across the country."

"We are excited to partner with Trey and the entire United PF family as they continue to execute on their growth strategy," said Helen Chiang, a Managing Director of American Securities. "UPF's passion for its customers and the Planet Fitness mission, as well as its culture of excellence, aligns with American Securities' values. There is significant opportunity to support the Company through its next phase of growth, and we look forward to being value added partners to management and a proud steward of the Planet Fitness brand."

About United PF
United PF is the largest Planet Fitness franchisee in the U.S. with more than 160 clubs and development rights to build new clubs across the West, Southwest, Midwest, South and Mid-Atlantic regions.  Led by Trey Owen, CEO, United PF is the leading Planet Fitness franchise with clubs across fourteen states, including Alabama, Arizona, Arkansas, Illinois, Kansas, Louisiana, Mississippi, Missouri, Ohio, Oklahoma, Pennsylvania, Tennessee, Texas and West Virginia.  United PF's keys to success are hiring top talent, selecting optimal locations, operating exceptionally clean clubs, providing a friendly customer experience and protecting the Judgement Free Zone®. 

About American Securities
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. For more information, visit www.american-securities.com.