Excel Fitness, an Austin, Texas-based franchisee of Planet Fitness, has acquired 14 Planet Fitness locations in the Hampton Roads region of Eastern Virginia from the KSMA group, Excel Fitness announced on Aug. 25.
Excel Fitness, which was acquired by private equity firm Olympus Partners for an undisclosed amount in April 2022, has opened five new clubs in 2022 so far. It now operates 107 Planet Fitness locations with multiple locations in development, including a new club in Williamsburg, Virginia. This deal includes development rights to bring six more locations to the Virginia market over the next five years.
Established in 2006, the KSMA group is owned and operated by husband-and-wife team Ken and Sharree Ryder, and their son Michael Barnes and daughter Amanda Williamson.
The Ryders said that they had “joined forces” with Excel Fitness and together, would build more locations and expand to new regions, providing more opportunities for their teams to grow.
Excel Fitness serves seven markets including Austin, Dallas-Fort Worth, Northwest Arkansas, Raleigh-Durham, Tulsa, Virginia and Utah.
"With the addition of these 14 locations, we're excited to continue expanding our footprint in Virginia and North Carolina," said Excel Fitness CEO CJ Bouchard. "Ken, Sharree and the entire Ryder family have built a world-class organization, and their incredible team will immediately strengthen our organization as we continue growing together."