Mayfair Capital Partners, a division of Oxford Financial Group, has acquired Baseline Fitness, a leading franchisee in the Planet Fitness system, from Freeman Spogli and Co. The investment closed on February 2, 2024, and terms were not disclosed.
Baseline Fitness, founded in 2009 and headquartered in Fargo, North Dakota, operates 100 Planet Fitness locations across the US. Planet Fitness is one of the largest and fastest-growing fitness center brands with more than 18 million members and 2,500+ locations system-wide.
Mayfair Capital Partners, which has a 20+ year history of investing in high-growth, market-leading companies, will provide growth capital and strategic support to Baseline Fitness as it seeks to expand its footprint to more than 150 locations in the next few years.
The Baseline Fitness management team, led by CEO Scott Majkrzak, will continue to lead the company and work closely with Mayfair Capital Partners. Both parties expressed their excitement and gratitude for the partnership and the opportunity to grow the business and serve more customers.
Oxford Financial Group, the parent company of Mayfair Capital Partners, also expressed its satisfaction with the deal and its commitment to offer its qualified clients and partners the opportunity to participate in hard-to-access investment opportunities like this one.