Fitness Chain Completes 100% ESOP Buyout
The founder of a midwest based fitness chain recently completed the sale of his company to a newly-formed Employee Stock Ownership Plan. The company’s founder was motivated to reward the employees who contributed to growing the company over 25 years from a small operation with a couple of clubs to the largest fitness chain in its markets. The company operates numerous fitness clubs in major metropolitan areas.
Pilot Hill Advisors assisted the leadership team evaluate, negotiate and complete this ESOP buyout and is very optimistic for the company’s continued success. Industry experts are forecasting continued growth in the sector as Americans continue to increase their awareness of the health benefits from exercise and good nutrition. Our client is well positioned to grow in its target markets.