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), announced today that it has invested over $30 million in Spartan Fitness Holdings, Inc. (“Spartan” or the “Company”). Funds will initially be used to fuel Spartan’s Club Pilates expansion, as well as to acquire and build other health and wellness concepts.
Spartan is a preeminent boutique fitness platform and the largest franchise owner in the Club Pilates system. Since opening its first Club Pilates in March 2019 in Frisco, TX, 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.
“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,” said David Schuck, Founder and CEO of Spartan. “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,” said 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 partnered in June 2021, growing the initial platform from six Club Pilates studios to 60 units in under two years, with another 40 area development rights to be built. The Company recently expanded into Hand & Stone and V/O Med Spa as it builds a multi-brand franchisee platform.
