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Riser Fitness, LLC, a leading operator of Club Pilates studios across western United States, announced today that it has secured a $72 million growth capital.
This partnership with Fortress gives us the resources to grow. With a strong pipeline and ample support, we're well-positioned to accelerate our expansion across the U.S. and internationally.” - Mike Gray, President & COOIRVINE, CA, UNITED STATES, October 7, 2024 /EINPresswire / -- Riser Fitness, LLC, a leading operator of Club Pilates studios across the western United States, announced today that it has secured a $72 million growth capital commitment from funds managed by affiliates of Fortress Investment Group LLC ('Fortress'). The structured financing will fuel additional construction of new units as well as acquisition of existing Club Pilates properties as the Company strengthens its leadership position in the rapidly growing boutique fitness industry.
“This capital commitment from Fortress represents a major milestone for Riser Fitness,” said Jeff Nash, Managing Director of Riser Fitness.“We've experienced incredible growth over the last three years, and this funding ensures we have the resources to continue expanding at a steady pace. We're excited to leverage this partnership to bring our world-class Pilates experience to even more communities.”
Fortress Investment Group, a globally recognized investment firm, has a proven track record of supporting high-growth companies in the health and wellness sector. Their commitment underscores confidence in Riser Fitness's ability to continue scaling its Club Pilates operations both domestically and internationally.
Mike Gray, President and COO of Riser Fitness, added, "This partnership with Fortress gives us the resources to grow both in size and speed. With a strong pipeline and ample support, we're well-positioned to accelerate our expansion across the U.S. and internationally." Gray, the former President of Club Pilates-part of the Xponential Fitness family (NYSE: XPOF)-recently joined Riser Fitness, bringing a vision to establish the company as the largest franchisee within the Club Pilates brand.
With over 60 operational units in the western U.S. and more than 100 additional territories in development, Riser Fitness is the largest franchisee in the Club Pilates system. The $72 million in financing will ensure the company maintains its industry-leading pace of development and operational excellence.
About Riser Fitness & Club Pilates
Riser Fitness operates Club Pilates studios across the western US. As a franchisee of Club Pilates, Riser is committed to promoting health and wellness through the practice of Pilates. The Company has experienced triple-digit annual growth for the last three years running and was recently included on Inc. Magazine's list of 5,000 fastest growing companies. For more information, visit . Founded in 2007 in San Diego, Club Pilates is the largest Pilates franchise in the world, with over 1,000 studios globally. It operates under the umbrella of Xponential Fitness (NYSE: XPOF), a leading curator of boutique fitness brands.
About Fortress Investment Group
Fortress Investment Group is a leading, highly diversified global investment manager with approximately $48 billion of assets under management as of June 30, 2024. Founded in 1998, Fortress manages assets on behalf of over 2,000 institutional clients and private investors worldwide across a range of credit and real estate, private equity, and permanent capital investment strategies.
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