Foxborough, MA– CDM Fitness Holdings, an SBJ Capital portfolio company, acquired from Shane Poirier a three-unit Planet Fitness (NYSE: PLNT) franchisee with clubs in Leominster, Mass., Keene, N.H., and Brattleboro, Vt.
The acquisition also includes certain development rights. This acquisition increases CDM’s club count to 55, up from 20 at the time of SBJ’s initial investment in May 2019, and further solidifies CDM as the largest operator of Planet Fitness clubs in the New England market.
“We see this as a win-win for all parties as we kick off the new year with a growing portfolio of fitness centers,” said CDM Chief Brand Officer Taylor Mandell. “Health and wellness remain more important than ever before as we head into 2022, and we anticipate more growth in the coming year with additional locations slated to open.”
“After growing our Planet Fitness club count 40 percent in 2021 and reaching 55 clubs, our entire CDM team is as excited about the future as ever as we continue to grow CDM and the Planet Fitness brand in New England,” said CEO of CDM, Brian Kablik.
CDM now has Planet Fitness locations across much of New England: 39 in Massachusetts, 2 in New Hampshire, 13 in Rhode Island and 1 in Vermont.
O’Melveny & Myers LLP provided legal advice to CDM.