L5 Fitness, the franchisee platform of private equity firms Level 5 capital partner, acquired 112 Orangetheory gyms previously owned by franchisees. This agreement adds 22 studios and three new markets to L5’s platform in Michigan, as well as territorial representation rights and proprietary studios in other states, including 61 studios in Illinois, 15 in Utah and 14 in Missouri. Founded in 2009, Level 5 has invested in other health and wellness franchises such as Restore Hyper Wellness in June 2020 and skin care company Heyday in February 2021. Orangetheory offers heart-based interval training in more than 1,300 studios worldwide.
Superior fence and railing joins Outdoor Living Brands Portfolio that includes franchise systems Archadeck Outdoor Living, Outdoor Lighting Perspectives and Conserva Irrigation. This is the first acquisition by Outdoor Living Brands since being acquired by Lynx Franchising, a portfolio company of MidOcean Partners, in September 2021. Superior Fence & Rail began franchising in 2017 and has grown to 36 locations, and co-founder Zach Peyton will continue to lead the franchise system as brand president after the acquisition. Orlando, Florida-based Superior Fence & Rail installs more than two million feet of fencing annually and has tripled systemwide sales since 2019 and bills itself as the largest multi-site fencing company in the country.
After acquiring TGA Premier Sports last month youth athletes united added Jump Bunch to its portfolio, a 20-unit multi-sport children’s enrichment franchise brand. This brings YAU’s total footprint to 283 units across 36 states and two international territories, making it one of the largest youth sports platforms in the industry. JumpBunch founder Tom Bunchman launched the concept in 1997 and began franchising in 2002, offering more than 70 physical activity activities for children ages 4 to 6 in preschools, recreation centers, schools and camps. This deal marks the ninth acquisition under the YAU franchise platform, which includes Soccer Stars and Amazing Athletes.
Multi-brand franchisor threshold marks completed the acquisition of Sanitary heating paramedic, which was originally announced in summer 2021. Threshold launched two franchise opportunities under the new brand names Plumbing Paramedic and heating + air paramedic, and a new Franchise Disclosure Document was filed on November 2, 2021. The plumbing and HVAC company was founded by Ryan Carpenter in 2011 and is based in Noblesville, Indiana. The Riverside Co. launched Threshold Brands in April to target commercial services franchises and has acquired similar household services brands such as MaidPro, USA Insulation, Men In Kilts, Pestmaster and Sir Grout.
Driven Brands Holdings expanded its portfolio with a $170 million acquisition of auto glass now on December 30, 2021. This will add more than 75 company-operated locations to Driven Brands’ Paint, Collision and Glass segment. AGN’s revenue in 2021 is expected to be approximately $85 million. As part of the transaction, Driven Brands incurred transaction costs of $56 million in the fourth quarter of 2021 and the purchase price and transaction costs were funded from existing cash. Based in Charlotte, North Carolina, Driven Brands now operates more than 300 glass facilities across the United States and Canada, in addition to vehicle repair, oil change, maintenance and car wash brands such as Take 5 Oil Change, Meineke Car Care Centers and Maaco.
start conversation bought AirTime Trampoline & Wildlife Park in Novi, Michigan. The 30,000-square-foot space will be renamed Launch Entertainment, which has 29 parks open and operates in 13 states. This will be Launch’s third corporate-owned location. Founded in 2012 by Rob and Erin Arnold, Launch offers everything from ninja classes and laser tag to bowling and trampolines. The grand re-opening celebration will take place in January.
Southpaw acquired 35 Taco Bell Restaurants in Northern Virginia and the Washington, DC area. The terms of the deal were not disclosed. Founded in 2009 by Judd and Erica Wishnow, Southpaw owns and operates more than 135 quick service restaurants in seven states, including 70 Taco Bells in Kentucky. The company plans to continue expanding its Taco Bell presence through both acquisitions and new store development.
Indiana franchisee AES restaurant group Bought 14 more arbys Restaurants in Tennessee and Virginia. The restaurants are being remodeled by AES, which has completed five remodels in 2021 and seven remodels in 2022, with five new restaurants to open. AES operates 91 Arby’s restaurants in Tennessee, Virginia, South Carolina, Georgia, Kentucky, West Virginia, Ohio and Indiana.
The master group, a Novacap portfolio company Value Added HVAC Distributors and its three subsidiaries. Based in Midlothian, Virginia, VAD’s three subsidiaries, founded in 1987, include Virginia Air Distributors, Allied HVAC Distributors and South Carolina Air Distributors, which collectively employ approximately 200 people at 19 locations. VAD supplies HVAC contractors with residential and commercial heating and air conditioning systems. Founded in 1952, Master Group advertises itself as Canada’s largest HVAC distributor and operates more than 50 offices across Canada from British Columbia to the Atlantic provinces. It also has four distribution centers and stocks more than 1,000 product lines. Boxwood Partners provided VAD with sales-side consulting services.
Stewart restaurant group, led by Todd Stewart, bought 14 KFC restaurants in Oregon, Nevada and Arizona Lariot Corporation, led by Barry Thiriot.
JEM restaurant group, run by John McGrath, bought 8 Taco Bells in Georgia and South Carolina Bravo Food and Festive restaurant group, directed by Andy Rosen.
KBP bells bought five more Taco Bell restaurants in New Mexico city different companies, which received sell-side advisory services from Unbridled Capital.