Initial Public Offering

Consumer
Initial Public Offering

Summary

Baird served as a bookrunner on this offering.

About

Planet Fitness, Inc. (“Planet Fitness” or the “Company”) (NYSE: PLNT), a portfolio company of TSG Consumer Partners, recently completed an initial public offering of 15,525,000 shares of common stock(including full exercise of the overallotment option), at a price of $16.00 per share, generating gross proceeds of $248.4 million. Of the shares offered, 10,491,055 shares were sold by Planet Fitness and 5,033,945 shares were sold by selling shareholders. The Company will not receive any proceeds from the shares sold by the selling shareholders. The Company intends to use the net proceeds from the offering to purchase common membership interests (“Holdings Units”) in Pla-Fit Holdings, LLC from certain existing owners. There is no public market for the Holdings Units, which will have a purchase price equal to the public offering price of the Company’s Class A common stock.

Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of March 31, 2015, Planet Fitness had more than 7.1 million members and 976 stores in 47 states, Puerto Rico and Canada. The Company’s mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which they call the Judgment Free Zone®. Planet Fitness is headquartered in Newington, New Hampshire.

For additional information about this transaction, please contact:

Kurt Roth +1 (312) 609-4689
Peter Kies +1 (414) 765-7262
Joe Pellegrini +1 (704) 553-6612
David Wierman +1 (404) 264-2211
Gary Placek +1 (414) 765-3611
Vinay Ghai +44 (0) 207 667 8225
Consumer
Initial Public Offering
Date
August 2015
Company
Planet Fitness, Inc.
Transaction
M&A
Sectors
Consumer
Target Location
North America

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