(Charlotte, N.C.) Fuzion Investment Capital has acquired the majority of assets of Fitness Management, the management company for Peak Fitness Clubs. Financial details were not disclosed. In addition to the acquisition, Fuzion will begin operating all facilities under the name ZX Fitness. ZX Fitness will continue to provide membership services to all members. Fuzion will take over operations of the 12 Peak Fitness Clubs including eight in Charlotte, N.C., three in upstate South Carolina and one in Durham, N.C., which includes more than 60,000 members and 400 employees.
Scale Finance’s Greg Hart and David Gilroy provided financial and transactional advisory support throughout this process.
“With today’s announcement we are excited to take what Peak Fitness did and improve on it. We’ve created a strong plan to make us the leader in the market as a full-service fitness center,” said ZX Fitness spokesman David Buzo. “We are pleased Fuzion has acquired a large membership profile and we’re looking forward to building on it.”
Overall the market research and business plan expects the company to experience strong growth. “Our research indicates people are exploring alternate routes of cutting expenses. Instead of cutting fitness, more people are adding a fitness membership to reduce their health care expenses by using programs as a science based six pack or other affordable systems,” said Buzo. “We offer great value and we believe over the next 12 months the economy will rebound and the fitness industry will thrive.”
Memberships of current Peak Fitness members will not be affected. Fuzion plans significant upgrades and enhancements for the facilities during the first six months.
About ZX Fitness:
ZX Fitness provides several fitness-related services for the community. The 12 ZX locations offer several amenities including group fitness classes, personal trainers, tanning packages, child watch, cardiovascular equipment, free-weight areas, pin-loaded equipment and more.
