24 Hour Fitness Sold in Forstmann Little's Swansong
June 03, 2014
AEA Investors and Ontario Teachers' Pension Plan, among other investors, have completed the acquisition of 24 Hour Fitness Worldwide from Forstmann Little. Serving nearly four million members in more than 400 clubs across the U.S., the company offers personal training, group exercise classes and a variety of strength, cardio and functional training equipment.
Rumored to be $1.85 billion, the deal is also the final significant exit for Forstmann Little. Winding down ever since the death of its founder in November 2011, the firm bought 24 Hour Fitness in 2005 for about $1.6 billion.