Rainier Partners, a private equity firm investing in lower middle-market services businesses, and its portfolio company Omega Fitness are pleased to announce the acquisition of 21 gyms in Wisconsin from MDS Fitness. Along with additional tuck-ins and new gym openings, this acquisition adds to Omega’s position as the fastest-growing Anytime Fitness franchisee in the U.S.

Omega Fitness is a preeminent Anytime Fitness franchisee formed by the combination of businesses built by two franchise operators, Andy Gundlach and Russ Allen. Since Rainier’s partnership began, Omega has roughly doubled the number of gyms in its portfolio.

“The growth we have seen since Rainier’s initial investment in November 2023 is remarkable, and the addition of MDS Fitness’ gyms furthers our goal of strengthening our presence in target geographies,” commented Omega Fitness CEO Andy Gundlach. “Rainier’s partnership and strategic guidance have undoubtedly accelerated our growth trajectory. We are excited to continue this momentum through the remainder of 2024 and beyond.”

The company is the second largest Anytime Fitness platform in the U.S., now with over 120 gyms in California, Florida, Illinois, Minnesota, and Wisconsin. The acquisition of MDS’s Wisconsin assets strengthens Omega’s position in the state and remains consistent with the company's strategic focus on establishing geographic density in select markets.

“Since day one, we knew we had a big runway ahead of us. We have been laser-focused on deploying our SUMMIT value creation playbook in partnership with Omega Fitness to seamlessly integrate the acquired businesses both operationally and financially into Omega’s strong platform,” said Rainier’s Director of Portfolio Operations Dave Shephard. “We are thrilled with how the company is performing and will continue to support its leadership team.”

Omega Fitness is actively seeking partnerships with Anytime Fitness franchisees and other gym owners. Business owners interested in learning more should contact Thomas Claycomb, Vice President of Development at thomas.claycomb@omegafitnessholdings.com.

Omega Fitness is a franchisee of Anytime Fitness clubs in the United States. With over 120 gyms across California, Florida, Illinois, Minnesota, and Wisconsin, Omega is operated by a proven leader in the Anytime Fitness franchisee space, Andy Gundlach.

Rainier Partners is a Seattle-based private equity firm with over $375 million in assets under management that invests in lower middle-market services businesses. We look for opportunities where we can actively support business owners and management teams by providing growth capital, operational resources, and strategic partnership. We focus on industries in which we have extensive experience, a network of partners, and deep resources: business services, consumer services, industrial services, and financial services. We typically invite the founders or management teams of our portfolio companies to invest alongside us to align interests. Please visit www.rainierpartners.com for more information.

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