NEW YORK, April 16 (Reuters) – EoS Fitness is considering a sale that could value the gym chain at approximately $1 billion, including debt, according to sources familiar with the matter.
The company, owned by private equity firm BRS & Co., is working with investment bank Piper Sandler to explore interest from potential buyers, which include other private equity firms, the sources said, speaking on condition of anonymity due to the confidential nature of the discussions.
Both EoS and BRS did not immediately respond to requests for comment, while Piper Sandler declined to comment.
EoS Fitness is a budget gym chain focused on middle-income customers, offering memberships starting at $9.99 per month.
Private equity firms are drawn to the fitness and wellness sector due to the steady cash flow from subscription-based memberships. Earlier this week, Leonard Green & Partners, another private equity firm, purchased Crunch Fitness, a rival gym chain that was also considering a sale.
While Crunch operates under a franchised model, EoS runs company-owned locations. The company currently has more than 175 gyms across Arizona, Florida, Georgia, Nevada, Southern California, Texas, and Utah.
BRS & Co. acquired EoS in 2015, along with another investment firm, when the fitness chain had just 16 locations.
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