Snap Fitness plans to roll out the Steele Fitness model this month in the Minneapolis area and expand nationally and internationally next year.
Snap Fitness has made its second acquisition in as many years. File photo.
Snap Fitness, Chanhassen, MN, announced today its acquisition of Minnesota-based personal training company Steele Fitness.
Snap Fitness says it will roll out the Steele Fitness model this month in the Minneapolis area and expand nationally and internationally next year.
Peter Taunton, CEO of Snap Fitness, said in a statement that the company is aiming to become the largest personal training network in the world.
"Creating a high-quality, streamlined personal training program that translates on a global scale is something that has never been done before in our industry," Taunton said. "This acquisition will allow us to do exactly that, providing members with the best experience and results, no matter where they choose to work out."
Steele Fitness has five locations in the Minneapolis-St. Paul area. Twin Cities Business reported in May that Steele Fitness had about 8,000 clients at the five clubs and 15,000 corporate clients at Target headquarters in Minneapolis.
Founder and CEO Steele Smiley told the magazine that the privately held company had doubled its revenue every year since 2008 and had 90 employees.
In a message posted on the Steele Fitness Facebook page today, Smiley said the Steele brand "will now go global."
"Ladies and gentlemen, thank you for your past and future support of the Steele brand and welcome to the largest personal training organization in the world," Steele wrote.
In a response to a question on Facebook about possible changes to the existing locations, the company said they will "stay the same."
Earlier this year, Steele Fitness signed a deal with athletic apparel company Under Armour to open a 2,500-square-foot retail store in its 12,000-square-foot club in Edina, MN.
Snap Fitness was No. 21 on the Club Industry Top 100 Clubs list this year with a reported $48.6 million in 2012 revenue. It reported more than 1,300 clubs at the end of last year, with plans to add 150 to 175 more clubs this year.