Ft. Lauderdale, Florida, May 16, 2012 - David Hardy, President of Franvest Capital Partners Inc. (“Franvest”) (though a US subsidiary) announced today that it has acquired an interest in Ultimate Fitness Group, LLC a privately owned Company and US franchisor d/b/a Orangetheory® Fitness currently with 18 group training studios in Florida, New York, Minnesota, Colorado and Arizona opened and 13 more scheduled to open in the next few months. The terms of the transaction are confidential and were not disclosed.
David Hardy stated “We are excited about the opportunity to invest and work with this amazing new concept in the fitness industry. This investment allows us to work closely with a seasoned and experienced management team in building Orangetheory® into a national and international brand.”
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