LNK Partners Exits Investment in Fitness Connection

February 4, 2019

Leading High Value, Low Price Fitness Concept Experienced Significant Growth During LNK’s Investment

LNK Partners, a leading consumer-focused private equity firm, announced today that it has sold Fitness Connection, together with its parent company, Titan Fitness Holdings, to affiliates of Roark Capital. Terms of the transaction were not disclosed.

Fitness Connection is a leader in the high value, low price (HVLP) segment of the fitness club industry. Fitness Connection’s strong consumer value proposition combines pricing of $10 per month and no long-term contract obligation with a full range of amenities and services. The company operates 41 locations in Texas, North Carolina, and Nevada. Under LNK and management’s ownership, which began in September 2013, the company expanded significantly in new and existing geographic markets, while building and maintaining a culture of outstanding operational execution and customer service.

David Landau, a Partner of LNK, said, “It has been a privilege for LNK to partner with the Fitness Connection team in building the company into one of the leading concepts in the HVLP segment of the fitness market. This sale represents an excellent result for LNK’s investors, as well as a terrific outcome for the Fitness Connection team, and we are confident they will continue to be successful going forward.”

Phil Howard, CEO of Fitness Connection, said, “The LNK team has been an extraordinary, value-added partner in building the Fitness Connection business, supporting the investments we have made in our unit expansion as well as the people and infrastructure required for continued growth. We could not have asked for a better partner for this stage of our journey as a company and management team, and their guidance has been invaluable in helping to position Fitness Connection for future success.”

LNK’s partnership with Fitness Connection represents another successful investment for LNK in the fitness and wellness sector. LNK was previously an investor in Beachbody, a leading direct marketer of fitness programs and nutritional products, and LNK is also an investor in Life Time, a premier healthy lifestyle brand with 141 destinations in 29 states and 39 major markets in the U.S. and Canada.

Jefferies LLC served as lead financial advisor to Fitness Connection, Piper Jaffray & Co. served as co-financial advisor, Kirkland & Ellis LLP provided legal counsel, and RSM US LLP provided accounting advisory services. Roark was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP.

About LNK Partners
LNK Partners is a private equity firm focused on backing strong management teams who are building outstanding consumer and retail businesses. LNK’s partners have extensive experience successfully investing in or operating many leading consumer and retail businesses, including Calvin Klein/Tommy Hilfiger/PVH, Life Time, Beachbody, Quaker Oats, Pepsi, Staples, Gatorade, Ariat, Niman Ranch, Campbell’s, Godiva, Fitness Connection, and Yankee Candle.

LNK is further distinguished by the high degree of flexibility in the type, structure, and size of its investments, and its willingness to be a minority or majority shareholder. LNK invests in a broad range of investment types, including growth capital, buyouts, recapitalizations, and PIPEs. LNK typically invests between $50 million–200 million per transaction. To learn more, please visit

About Fitness Connection
Founded in 1999, Fitness Connection is a category leader in the HVLP fitness segment, offering the full range of amenities and services of a large, full-service premium club for as low as $10 per month. Memberships include access to state-of-the-art strength / cardio equipment, functional training areas, women’s only workout areas, short-term child care, cycling studios, as well as other amenities and services. In addition, memberships typically include 30+ unique group workout classes including spin, yoga, pilates, kickboxing and high intensity interval training, among the other 50+ classes per week. The Company today operates 41 gyms in Texas, North Carolina, and Nevada. For more information, visit