Virtual-Strategy Magazine:
The North Avenue Group, LLC (NAVG), an Atlanta-based lower middle market private equity firm, announced that it has completed its acquisition of JRG Fitness Operations, the largest independent franchisee of Snap Fitness Franchises in North America.
JRG Fitness, based in Atlanta, owns and manages the single largest portfolio of Snap Fitness franchises spanning 9 States with over 21,000 members. JRG provides its clubs a wide range of management services primarily consisting of club-level financial and operational support, payroll and lease management, and enhanced member services.
“JRG Fitness is an excellent addition to our portfolio that brings a large, independently operated set of high performing franchises under one roof,†said Terry Comer, managing partner of NAVG and board member of JRG Fitness. “The acquisition of JRG advances NAVG’s penetration in the attractive, high growth health & fitness market and builds onto the multi-unit management segment of the company’s Franchise target focus.â€