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Bandon Holdings, the largest Anytime Fitness franchisee, has been acquired by Sentinel Capital Partners. Terms of the deal were not disclosed. The Austin-based multi-unit franchisee operates 213 Anytime Fitness clubs and has more than 140,000 members in 24 states.
Bandon Holdings Co-Founder and Co-CEO Jeff Kiecke said, “We are excited to partner with Sentinel as Bandon continues to expand our footprint in the Anytime system. We believe Sentinel’s expertise in helping companies in the franchising industry accelerate growth will enable us to execute on the many available growth opportunities and realize our long-term strategic business goals.”
Sentinel has a long history of investing in franchise partners. Over nearly three decades, Sentinel has invested in 14 franchisors and 3 franchisees across a wide range of industries, including restaurants, healthcare, and consumer retail. The company has recently invested in American West Restaurant Group, a multi-unit Pizza Hut operator; Vital Care, an infusion therapy clinics franchisor; and The Recreational Group, the franchisor of Purchase Green artificial grass and lawn retail stores.
“We look forward to the opportunity to partner with the Bandon team as they continue to expand through new development and a proven acquisition strategy,” said Marc Buan, principal at Sentinel. “Bandon’s talented management has developed an impressive growth model over the past decade and its robust acquisition pipeline is highly actionable.”
Bandon Holdings has grown by focusing on owning and operating clubs in small suburban and rural markets where there are limited fitness club options.