Partnering with Impact Fitness

  • STATUS

    Exited

  • YEAR

    2016

  • LOCATION

    Grand Rapids, Michigan

  • IMPACT METRICS
    Company data as of Dec 31, 2018
    Increase Access to Fitness:
    182K
    Number of gym visits:
    6M
  • B IMPACT SCORE
    48
    2018
    81
    2019
    81
    2020
MISSION STATEMENT

We Serve. We Inspire. We Support. We Change Lives! Impact Someone Today!

CASE STUDY
Sourcing

Thematic development around fitness

With growing rates of obesity in America, fitness access was a key priority in thematic sector development within our Health & Wellness vertical.

Diligence

Gained conviction in investment & impact thesis during diligence

The company’s mission to bring low-cost gyms to “fitness deserts” in low-health areas coupled with its compelling unit economics and white space expansion opportunities drove our conviction around the company’s significant growth potential and social impact.

Deal Making

BCDI partners with Impact Fitness

In December 2016, we negotiated the deal with a mission-driven founder who chose to partner with us due to our impact orientation and Bain Capital’s expertise in helping scale founder-owned businesses at a growth inflection.

Value Creation

Rebranding & culture development

In January 2017, we rebranded the business to “Impact Fitness” and worked with the management team to define and communicate a set of company values ingrained into the company culture.

Built a strong operational foundation

We streamlined operating dashboards and implemented budgeting and KPI tracking.

Footprint Expansion

We developed a data-driven tool to evaluate sites for de-novo gyms. We worked with franchisor to acquire two development regions in Canada and opened our first gym in Surrey in December 2017.

Executed M&A

In December 2018, we completed the acquisition of six clubs in Indiana and Michigan.

Strengthened the management team

We meaningfully strengthened the management team by bringing on a number of key mission-oriented executives with deep functional and industry expertise, including a COO and CFO.

Exit

BCDI exits Impact Fitness

Having achieved our full underwriting growth plan, we worked with a sell-side advisor to launch a sale process. The company’s mission-driven management team and company culture coupled with its ability to attract membership in small, low-health markets garnered significant interest (and value) from potential buyers. In June 2019, we exited Impact Fitness to a partner excited to continue scaling the company’s tremendous impact.

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