LOS ANGELES, United States — Private equity firm TPG Growth has invested in Club Pilates; the largest franchisor of Pilates studios in the United States, as it narrows its focus on the wellness industry.
Joining the likes of North Castle Partners, L Catterton and Pembroke VCT, the middle market and growth equity platform has identified health and wellness as areas of high growth, and plans to build on its existing investments within the space.
“The fitness sector has experienced meaningful growth as more and more consumers continue to make health and wellness a priority. This is especially true for boutique fitness brands, as they resonate with consumers’ desire for a workout founded in experience, community, and value,” explained Mark Grabowski, Partner at TPG Growth.
“For many years, the Pilates method has been a staple of the fitness industry – it consistently attracts more than 8 million participants across the country. As the largest player in the sector, Club Pilates is well positioned to capitalize on industry tailwinds. We are very excited about Club Pilates’ growing store base, ongoing commitment to quality, and successful, turnkey franchise solution.”
With a strong track record of investing in leading consumer brands as well as companies in the health and wellness space, TPG’s portfolio includes Angie’s, one of America’s fastest-growing healthy snack players, and cold-pressed juice company Suja. The firm also owns a stake in popular gym chain Life Time Fitness.
However, since Mark Grabowski came on board as Partner last year, the former L Catterton MD has doubled down on TPG’s focus on the sector. Keen to utilise his prior experience from participation in investments with yoga provider CorePower Yoga, at-home fitness system Peloton, and fitness franchisor Pure Barre, the investor plans to spearhead TPG’s continued success within the wellness category and in particular, fitness.
Starting with Club Pilates, TPG will use its deep sector knowledge, operational resources, and global experience to help the franchise expand its current footprint of 475 territories throughout the United States and Canada. Following that, Grabowski will no doubt be assessing the next wave of opportunities that lie within the $3.72 trillion wellness industry.