Empire Portfolio Group, a Main Space Developer & Franchisee of Orangetheory® Health, Acquires four Studios in Connecticut

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NEW YORK, July 13, 2021 / PRNewswire / – Empire Portfolio Group (“Empire”), a leading area developer and franchisee of Orangetheory® Fitness, the heart rate interval training franchise, today announced the acquisition of four studios in. known Fairfield, Norwalk, Westport and Shelton, CT. With these Connecticut Acquisitions, Empire strengthens its connections in the border triangle with a total of more than 40 studios in Connecticut, New Jersey and new York.

“We are excited about our continued growth,” said the CEO of Empire, Adam Krell. “As the current operator of some of the top performing studios in Connecticut, this possibility was a natural next step for us. The communities that the former owners, Mark Molina and Fred Maudsley, created, sharing our same values ​​of integrity, accountability and passion, and we thank them for the opportunity to continue the legacy they have built. ”Mr. Molina opened the first Orangetheory gym in Connecticut in 2014. “This transaction culminates successfully in years of hard work, and I believe Empire’s financial breadth and operational acumen will further enhance the orange theory experience for our members,” said Molina.

Since partnering with Revelstoke Capital Partners, a leading private equity firm focused on health and wellness, in December 2020, Empire has expanded career opportunities for current and future employees and improved access to the orangetheory fitness trifecta of science, coaching, and technology to its growing membership base.

“Our membership is growing faster than it was before the pandemic,” continues Krell. “Our employees are happy that we can offer them career paths in an industry that they love. We are excited to see what will happen in the next few years and beyond. “

“Congratulations to Empire, Adam and the team on their recent growth and acquisition of the Connecticut Studios “said Mike Mettler, Chief Development Officer of the Orangetheory Fitness franchisor. “Orangetheory is excited about Empire’s growth and continued investment in developing world-class studios and teams for our members.”

Winston & Strawn LLP acted as legal advisor to Empire. The sellers were represented by MOK Advisors as financial advisor.

About orange theory

Orangetheory is a heart rate based full body group training that combines science, coaching and technology to achieve maximum results from within. The workouts typically last 1 hour and are led by trained coaches who incorporate endurance, strength and power to guide members through 5 different heart rate zones with the goal of burning more calories. The training aims to increase the post-workout excess oxygen consumption (EPOC or the “Orange Effect”), which allows participants to burn a higher rate of calories for up to 24 hours after training. There are currently over 1,400 fitness studios worldwide using the Orange Theory system.

About Empire Portfolio Group Holdings

Empire Portfolio Group Holdings, founded in 2013 and based in head New York City, is a leading franchisee and sales representative for Orangetheory Fitness. The company has more than 40 Orangetheory gyms throughout new York, New Jersey, and Connecticut.

About Revelstoke

Revelstoke is a private equity firm founded by seasoned investors focused on building industry-leading companies in the healthcare and related health and wellness sectors. Revelstoke works with entrepreneurs and management teams to implement a disciplined growth strategy for organic growth and acquisitions to build exceptional businesses. Revelstoke is located in Denver, Colorado and has about $ 2.9 billion of managed assets. Since the company was founded in 2013, Revelstoke has completed 99 acquisitions, including 21 platform companies and 78 additional acquisitions.

Contact:
Caroline light
Lambert & Co.
203-656-2829
[email protected]

SOURCE Empire Portfolio Group Holdings

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