Snapdragon Capital Partners (“Snapdragon”), a leading private equity investment firm focused on high growth consumer companies and a founding investor in Xponential Fitness, Inc. (NYSE: XPOF), recently announced a $30 million investment in Spartan Fitness Holdings, Inc. (“Spartan” or the “Company”). The funds will be used to expand Spartan’s Club Pilates concept, as well as to purchase and construct new health and wellness initiatives.
Spartan is a leading boutique fitness platform and the Club Pilates system’s largest franchise owner. Spartan now owns and operates 60 Club Pilates studios across Texas, Florida, North Carolina, Ohio, Massachusetts, Missouri, and Illinois, as well as additional units in other boutique beauty and wellness franchised systems, including Hand & Stone and V/O Med Spa, since opening its first Club Pilates in March 2019 in Frisco, TX.
David Schuck, Founder and CEO of Spartan stated “We are excited to partner with Snapdragon, whose team has a strong track record of supporting and growing a wide range of category-defining consumer brands, as well as intimate knowledge of Xponential Fitness. Their investment will accelerate our expansion as we build the market-leading multi-brand health & wellness franchisee platform.”
“Xponential is one of the strongest partners in franchising today, and David has been a top operator in the system for a number of years,” stated Mark Grabowski, Managing Partner of Snapdragon. “We’re eager to support David’s vision for Spartan as the Company continues to grow via new builds and acquisitions, while delivering a superior experience for consumers searching for health & wellness services.”
Snapdragon and Spartan first collaborated in June 2021, expanding the first platform from six Club Pilates studios to 60 units in less than two years, with an additional 40 area development rights to be created. As it establishes a multi-brand franchisee platform, the company has lately expanded into Hand & Stone and V/O Med Spa.