16 Sep Riveria Hybrid Value backs Northwest-based Planet Fitness Franchisee
RIVERIA INVESTMENT GROUP ANNOUNCEMENT:
Riveria Hybrid Value backs Northwest-based Planet Fitness Franchisee.
September 16, 2019 – Riveria Hybrid Value (“RHV”), today announced it has backed a Northwest-based Planet Fitness Franchisee. The franchisee is an area developer of Planet Fitness Gyms. It currently operates multiple franchise locations and holds multiple Area Development Agreements (“ADA”) with the corporate parent to expand to over 20 clubs by 2024. Financial terms of the transaction were not disclosed. The transaction represents Riveria Investment Group’s second investment in the Planet Fitness Franchise.
About Riveria Hybrid Value:
Riveria Hybrid Value (“RHV”), headquartered in New York, NY, provides differentiated / opportunistic capital to companies in the middle-market. RHV brings a patient approach to investing, and understands that developing and implementing a strategic plan should not require predetermined capital time horizons. Riveria seeks to form partnerships with world class entrepreneurs / management teams to build substantial platforms by leveraging access to capital to drive organic and acquisitive growth. RHV takes a flexible approach to investing and takes pride in being a supportive resource to entrepreneurs and management teams seeking capital to execute on their strategic vision. Riveria Investment Group’s website is: www.riveriagroup.com
About Planet Fitness:
Planet Fitness is the fastest-growing full size health club franchise in the U.S., and provides its members with an unbeatable value and a relaxed Judgment Free® atmosphere that allows them the opportunity to pursue an active, healthy lifestyle without being judged by others. Planet Fitness has over 1,400 operating gym facilities in the U.S. and is a strong growing national brand. Planet Fitness’ website is: www.planetfitness.com