Manna Capital Partners plans to “aggressively expand” Orangetheory Fitness through new unit development and strategic acquisitions
Eighteen Orangetheory Fitness studios in Orlando and South Florida have been acquired by Bluegrass Fitness, an affiliate of Manna Capital Partners, part of a deal that also includes a multi-year development agreement for Central and South Florida and marks Manna Partners’ first investment in the fitness sector.
Prior to Orangetheory Fitness, Kentucky-based Manna Partners has overseen the success of other franchise-based businesses, including several nationally franchised restaurant brands.
“This exciting new partnership with Bluegrass Fitness and Manna Partners will continue to drive same-studio and new-unit growth for Orangetheory Fitness in the Orlando and South Florida markets, helping fulfill our mission of bringing ‘More Life’ to members throughout the region,” Orangetheory co-founder and CEO Dave Long remarked. “Our new partner’s culture, operations focus and long-term outlook aligns perfectly with our model for success.”
Kevin Attkisson, co-founder of Manna Partners and Bluegrass Fitness, noted that the fast-growing fitness sector is a prime area for expansion based on its substantial value proposition.
“With Orangetheory Fitness’ proven track record, national presence and focus on innovation, the brand stood out as an ideal fit for our company’s strategic vision,” Attkisson said of Manna Partners’ strategy. “We look forward to aggressively expanding our Orangetheory business through new unit development as well as strategic acquisitions.”
Earlier this year, the boutique fitness brand known for its heart rate-based interval training workouts merged with Self Esteem Brands, the parent company of Anytime Fitness, in an all-stock transaction that saw two of the world’s biggest fitness brands join forces.
Long, who has guided Orangetheory to over 1,500 franchised studios in 24 countries, recently spoke with Athletech News about OTF’s vision for the future, which includes leveraging technology to drive a more personalized experience for members while maintaining a human element.
Long also identifies “prescriptive fitness” as a defining trend in the industry, where leading boutique fitness brands will need to offer data-driven workouts to support each member’s individual needs.
