In-Shape Health Clubs, Stockton, CA, has partnered with Fremont Private Holdings (FPH) and Pulse Equity Partners to further its expansion.
CEO Paul Rothbard will continue to lead the company, according to a press release.
"FPH and Pulse are the perfect partners for our business," Rothbard said. "We share the same vision for the company. This new relationship will enable us to continue our steady growth."
Michelle Clark, vice president of marketing and spokesperson at In-Shape, declined to discuss further details about the partnership.
Last fall, In-Shape announced it had acquired five clubs owned by Millennium SportsClubs, Vacaville, CA, and planned to spend $7 million for upgrades and improvements on those clubs. The acquisition increased the number of In-Shape clubs to 62.
"In-Shape exemplifies everything we look for in an investment—an attractive service offering, a proven and dedicated team, and a demonstrated history of growth," Scott Earthy, managing partner of FPH, said in a statement. "We look forward to supporting Paul and the management team as they enhance In-Shape's club offerings in the years ahead."
Doug Lehrman, CEO of Pulse, added: "In-Shape is a very special business due to its compelling value proposition for members, its first-class facilities and its great management team. In-Shape fits perfectly with our focus on partnering with leading health and wellness businesses."
In-Shape, founded in 1981, tied for No. 15 on Club Industry's Top 100 Clubs list last year with an estimated $90 million in 2011 revenue. The estimate was derived from outside sources.