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Bally Total Fitness acquired Crunch in 2001 for $90 million in cash and stock, [14] holding the brand for four years. In 2005 Angelo, Gordon & Co., a private equity firm, purchased Crunch from Ballys for $45 million, and in 2009 added New Evolution Fitness Company ("NEFC"/New Evolution Ventures), a company founded by Mark Mastrov (founder of 24 hour fitness) and fitness Veteran Jim Rowley, as ...
Bally Total Fitness was an American fitness club chain. At its 2007 peak, prior to the filing of the first of two Chapter 11 bankruptcies, Bally operated nearly 440 facilities located in 29 U.S. states, Mexico, Canada, South Korea, China, and the Caribbean under the Bally Total Fitness, Crunch Fitness, Gorilla Sports, Pinnacle Fitness, Bally Sports Clubs, and Sports Clubs of Canada brands.
The connected-fitness company doesn't have a real strategy to turn things around. ... the current stock price and aggressive cost-cutting, it's hard to see how the math works for a private equity ...
He’s been in the fitness industry for over 30 years, and has spent over a decade at the helm of gym chain Crunch Fitness, which operates over 400 locations. But that’s not where he learned his ...
Jim Rowley knows uphill climbs—and which battles are worth fighting. He’s been in the fitness industry for over 30 years, and has spent over a decade at the helm of gym chain Crunch Fitness ...
The credit crunch prompted buyout firms to pursue a new group of transactions in order to deploy their massive investment funds, including Private Investment in Public Equity (PIPE) transactions, as well as purchases of debt in existing leveraged buyout transactions. Some of the most notable of these transactions completed in the depths of the ...
Crunch Fitness. Membership Cost: Starts at $9.99 per month. Annual Fee: Varies by location. Crunch Fitness has hundreds of locations plus 28 beefed-up Signature clubs. The basic membership ...
The buyout suffered from the 1987 stock market crash and after failing initially raise high yield debt financing, the company was required to offer a portion of the company's stock as an inducement to invest in the company's bonds. [12] [13] Jim Walter Corp (later Walter Industries, Inc.), 1987