Largest Anytime Fitness Franchise Group Sold

Private equity firm Sentinel Capital Partners has purchased Bandon Holdings, the largest Anytime Fitness franchisee with 213 Anytime Fitness clubs in 24 states, according to an announcement from the companies. Terms of the deal were not disclosed.

Bandon, Austin, Texas, has traditionally focused on owning and operating clubs in small suburban and rural markets with limited fitness club options. It has 140,000 members.

Sentinel plans to help Bandon continue to expand through new development and acquisitions, according to 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,” Buan said.

Jeff Kiecke, Bandon co-founder and co-CEO, said he is excited to partner with Sentinel as Bandon continues to expand it footprint.

“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,” he said.

In its 27 years in business, Sentinel has invested in both franchisees and franchisors. It has made investments in 14 franchisors and three franchisees across industries that include restaurants, healthcare and consumer retail. Recent franchising investments include American West Restaurant Group, a franchisee of Pizza Huts; Vital Care, a franchisor of infusion therapy clinics; and The Recreational Group, the franchisor of Purchase Green artificial grass and lawn retail stores.