NEW YORK, Jan. 8, 2019 /PRNewswire/ — BRS & Co. (“BRS”), a New York-based private equity firm, announced a recapitalization of EōS Fitness (“EōS” or the “Company”), a portfolio company of an investment partnership managed by BRS.
EōS Fitness is a leader in the fitness club industry offering High Value Low Price (HVLP®) gyms, which combine the pricing of a low-cost gym with a full suite of amenities including personal training, group fitness, cycling studios, swimming pools, turf functional training areas, full locker rooms and Kids’ Clubs. Currently, the Company operates 30 locations in Phoenix, Las Vegas and Southern California. The recapitalization will fund a distribution to EōS’s shareholders and provide management with the flexibility and capital to continue to expand EōS’s footprint throughout the US, bringing affordable fitness to more Americans.
“We strongly believe in EōS’s value proposition to customers and are excited by our future growth,” said Rich Drengberg, CEO of EōS Fitness. “We have assembled the best management team in the industry to provide a high level of service while growing rapidly.”
“It has been a pleasure working with Rich and his team, and we are thrilled to support EōS’s continued growth,” said Rashad Rahman, Managing Director at BRS.
Golub Capital and Antares Capital provided the financing necessary to complete the recapitalization and Dechert LLP acted as legal advisor to BRS.
About EOS Fitness
EōS Fitness is a rapidly growing High Value Low Price (HVLP®) fitness club chain operating 30 locations in Phoenix, Las Vegas and Southern California. EōS’s model is a disruptive force within the fitness club industry providing serious fitness for everyone, offering an unmatched array of amenities starting at just $9.99 per month. Visit www.eosfitness.com to learn more.
About BRS & Co.
BRS is a New York based private equity investment firm with combined capital invested of $1.2 billion, focused on investing in lower middle market consumer goods and services businesses. Since 1996, BRS has purchased over 50 portfolio companies for aggregate consideration of over $6.9 billion. In addition, BRS portfolio companies have completed over 40 add-on acquisitions. For more information, please visit www.brs.com.
SOURCE BRS & Co.