The National Fitness Business Alliance (NFBA), Marstons Mills, MA, announced that it is being acquired by a Memphis, TN-based investment group.
The Memphis investment group is led by Robert Creech, a longtime fitness business owner and industry investor. The investment group will infuse more than $1.1 million into expansion, according to a press release from the NFBA. The investment will include an expanded workshop presence, the creation of a business certification company (the NFBA Institute) and the addition of a licensing company.
The NFBA is an independent education company that offers 24 workshops per year and includes several industry vendors in the alliance. Attendees range from large club operators to small independent operators. Founded in 2003, the NFBA was created by Thomas Plummer as an expansion of his original seminar company.
"My companies have worked with Thomas Plummer for years, and our investment group sees a huge potential in growth in this industry for an education company and for an expansion of the work that Thom started years ago," Creech said in a statement. "The NFBA workshops have shown growth for three consecutive years, and each workshop offering this year has seen at least 20 percent higher growth than the year prior."
Plummer will stay in the role of featured speaker in many of the events and continue to teach the business model he created in the workshops, according to the NFBA. He also will continue to do his keynote speaking around the world promoting the NFBA and its education resources.
"The NFBA simply grew beyond our ability to operate it on a local level," Plummer said in a statement. "Robert and his investment team bring a chance to grow this to the international level that I always anticipated we could do, but we simply needed a corporate team behind us to develop our new websites, online education and expanded format."