Private equity firm Capital Dynamics has joined North Castle Partners in its investment in fitness club franchisor Curves International.
The company is the largest fitness club franchisor in the world with around 7,300 locations in 90 countries of clubs specifically designed for women.
Financial terms of the deal were not disclosed.
“We have a strong relationship with North Castle and are delighted to have backed the firm in the Curves transaction,” said Andrew Beaton, managing director and co-head of Capital Dynamics‟ co-investment business. “North Castle is highly experienced in the healthy living segment and very successful in wellness; the team has already made over 20 investments in the wellness area. Curves, boasting the key growth drivers targeted by fast moving consumer goods companies, is the ideal next‟ investment and we are pleased to join North Castle as a partner in this opportunity.”
“The Curves investment is a great example of our co-investment team‟s ability to identify and successfully invest in companies that hold global positions of leadership, as well as the potential for further growth,” added Stefan Ammann, CEO of Capital Dynamics. “We are looking forward to working together with North Castle to advance the already strong growth Curves has achieved, both in the US and internationally.”
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