TORONTO, April 25 /CNW/ - Extreme Fitness, Inc., a leading fitness club
operator in the Greater Toronto Area, announced today that it has signed a
definitive agreement to acquire six Bally and Sports Club of Canada fitness
clubs in Toronto from Bally Total Fitness Holdings Corp. The facilities to be
acquired are the Sports Club of Canada locations known as The Dunfield, The
Delisle and The Wellington; and the Bally Total Fitness locations known as
Bloor Street, Interchange and Cedarbrae. Financial terms of the transaction,
completion of which is subject to customary closing conditions including lease
negotiations, were not disclosed.
"Extreme Fitness plans to invest more than 20 million dollars in the six
newly acquired fitness clubs to upgrade their facilities, add state-of-the-art
equipment, and ensure that they meet the Company's high quality and
member-experience standard," said Jim Solomon, Chief Executive Officer of
Extreme Fitness. The Company's premium facilities, award-winning club designs
and cutting-edge equipment led The National Post, in 2005, to call Extreme
Fitness "Dollar for dollar, the city's best gym."
Extreme Fitness's renovation concept for the six new clubs is based on
blending elements of nature, such as exotic woods and subtle earth-tones, with
sleek high-tech modern design. The clubs will boast bright open spaces and
areas for members to congregate and socialize, creating more of a community
atmosphere. State-of-the-art fitness equipment including cardio machines with
personal LCD televisions and the latest weight-training machines, will be
consistent in all six clubs. The change rooms will emulate a spa-like
atmosphere where members can indulge in luxurious oversized showers, cozy
lounge areas and unique Roman-style hot steam rooms with adjoining cold rooms
designed to increase circulation and stimulate detoxification.
"With the Extreme renovation, the newly acquired clubs will be among the
most lavish and design-conscious health clubs in the GTA," said Steve daCosta,
President and Founder of Extreme Fitness.
Other amenities planned for the renovations include fully equipped
Pilates suites, both hot and cold yoga studios, professional health centers,
nutrition-conscious cafés, private personal training rooms, group fitness and
cycling studios with ultramodern surround-sound systems, DJ booths for live
performances, interactive executive business centers and theater-sized screens
in the common areas that can be used at member events to watch major sporting
broadcasts, live concerts and movies. The end result will be six extremely
motivating and luxurious fitness-ecosystems designed to inspire members to
make positive changes in their lives.
"With our award-winning club design, results-oriented personal training
programs, and motivating club atmosphere, Extreme Fitness is set to seriously
pump up Toronto's fitness culture," said Solomon.
Since the beginning, Extreme Fitness has been known for its high-quality,
results-oriented personal training program. With 40% of Extreme's members
using personal trainers to maximize their workouts, Extreme estimates that its
personal training program has contributed to helping more than 18,000 members
shed a collective 90,000 lbs of weight, this year alone. Hence the name
"Extreme" -Extreme Fitness takes its programs to the limit. "Everything we do
is to obtain results - our group fitness classes are tough, and our personal
trainers are demanding," said Solomon.
Founded in 1995, Extreme Fitness currently has six fitness clubs in the
Greater Toronto Area and approximately 45,000 members. The six fitness clubs
Extreme Fitness is acquiring will double the number of Extreme Fitness
facilities in Greater Toronto and increase total Extreme Fitness memberships
by more than 30 percent, to approximately 60,000.
Extreme Fitness is a portfolio company of Falconhead Capital, LLC
(www.falconheadcapital.com), a private equity firm established in 1998 to
provide investors with significant long-term capital appreciation by investing
globally in consumer-focused businesses in the leisure, lifestyle, recreation
and related categories. In addition to Extreme Fitness, Falconhead Capital's
current and prior portfolio investments include, among others, Growing Family,
Inc., Escort, Inc., National Powersport Auctions, Premier Salons
International, Maritime Telecommunications Network, and ESPN Classic Europe.
For further information:
For further information: Alison Stephens, Public Relations, Extreme
Fitness, Ph: (416) 303-0947, firstname.lastname@example.org,