DALLAS – Titan Fitness Holdings announced today that it is in the process of closing on funding that would allow it to become one of the largest franchise owners of Gold’s Gym locations in the United States.
Titan plans to have 18 Gold’s Gyms under ownership and five new locations in development by the end of 2007.
“My partners and I are very excited about becoming a Gold’s Gym franchisee again and working with Gold’s Gym International,” says Titan CEO Jeff Skeen.
Over the next several years, Titan plans to grow to more than 60 stores by investing in franchisees with ownership in at least three locations in attractive growth markets, purchasing non-Gold’s chains and re-branding them, and building new stores to support its investments.
Titan hired M&T Investment Banking Group to assist in raising funds for its growth strategy.