05/29/2018

Tecum Capital Announces Investment in Bandon Holdings

Tecum Capital Provides Subordinated Debt and Equity to Support Fireman Capital Partners Acquisition of Bandon

Pittsburgh, Pennsylvania - Tecum Capital Partners (“Tecum”) is pleased to announce its new investment in Bandon Holdings (“Bandon”), an Anytime Fitness (“Anytime”) franchisee.  Tecum provided subordinated debt and equity to support Fireman Capital Partners’ (“FCP”) acquisition of Bandon.  Terms of the transaction were not disclosed.

Stephen Gurgovits, Jr., Managing Partner of Tecum, stated, “The Company has a strong position in the market and ample opportunity to continue its growth trajectory given the increasing popularity of the Anytime Fitness brand.  We are excited to partner with Fireman Capital Partners and Bandon’s Management Team as they continue to execute on strategic initiatives to grow the platform.”  Matt Harnett, Partner of Tecum, added, “Developing and acquiring additional Anytime Fitness franchises has been, and will continue to be, integral to Bandon’s success.”

Based in Austin, Texas, Bandon is the largest Anytime Fitness franchisee in the entire system with 38 club locations across Texas, Oklahoma, and Kansas.  Co-Founders and Co-CEOs, Jeff Kiecke and Brian Portner (collectively, the “Management Team”), originally formed Bandon in 2012 to acquire several Anytime Fitness locations and have since grown the platform significantly amid a growing demographic of health-conscious individuals in the United States.  Bandon is poised for continued growth as the Management Team has deep experience in the fitness franchise industry with a proven strategy comprised of developing and acquiring clubs and continuously enhancing Bandon’s service offerings at its locations.  

Anytime Fitness, founded in 2002 and headquartered in Woodbury, Minnesota, is the fastest growing fitness club in the U.S.  Anytime Fitness clubs provide a low-cost, complete product offering with state-of-the-art security and card access systems allowing convenient, all-hours access for its members.  The brand serves its customer base with over 4,000 fitness centers in more than 30 countries and territories worldwide.

Dan Fireman, Managing Partner of FCP, said, “We are thrilled to partner with the talented Bandon Holdings team, which has built a terrific fitness platform with a robust pipeline for future growth. We look forward to further scaling the business by continuing to pursue a focused acquisition strategy and integration plan, as well as implementing strategic operational enhancements and marketing initiatives.”

Chris Akelman, Principal at FCP, said, “Bandon Holdings is poised for continued success. We are delighted to be collaborating with Jeff, Brian and their exceptional team to drive positive momentum for the business and solidify Bandon’s position as a market leader in the high-growth fitness space as part of the Anytime Fitness global network.”

Jeff Kiecke, Co-Founder and Co-CEO of Bandon Holdings, said, “Brian and I – and the rest of the Bandon team – are excited to partner with Fireman Capital Partners. FCP brings extensive fitness industry experience, as well as a proven ability to help shape and grow consumer-driven companies. With FCP’s guidance and resources, we will be well-positioned to capitalize on the numerous growth opportunities ahead and realizing our collective vision to create a next-generation fitness platform.”

About Tecum Capital Partners
Tecum Capital is a Pittsburgh-based private investment firm with over $500 million of committed capital under management providing mezzanine debt, subordinated notes and private equity for middle market businesses.  Tecum has invested more than $250 million in over 50 companies over the past 10 years throughout the Midwest, Mid-Atlantic, Northeast, and Southeast.  Tecum generally invests amounts ranging from $5 million to $15 million to support business owners and financial sponsors in growth financings, full and partial recapitalizations, generational transitions, and buyouts.  For more information, please visit www.tecum.com.


About Fireman Capital Partners
Fireman Capital Partners invests in consumer-focused companies through both growth equity and buyout transactions.  The private equity firm focuses on dynamic consumer businesses with revenues between 30M USD and 150M USD, who also have a unique vision, strong product and market share, and sound management.  FCP leverages its capital, extensive network, and deep operating expertise to add substantial value.  The firm is currently invested in Dunn’s River Brands, CANarchy, Surfside Holdings, and Idea Paint with realized investments in Hudson Jeans, Pilla, Evolution Fresh, Serena & Lily, Newton Running and Skip Hop.  For more information, please visit www.firemancapital.com.


About Anytime Fitness
Ranked #1 on Entrepreneur’s prestigious Top Global Franchise list, Anytime Fitness is the fastest-growing gym franchise in the world, with more than 4,000 gyms serving nearly 3,300,000 members on five (soon to be seven) continents. Open 24 hours a day, 365 days a year, Anytime Fitness prides itself on providing its members with convenient fitness options and friendly, personal service in well-maintained facilities which feature top-quality exercise equipment. Gyms are now open in all 50 states, Canada, Mexico, Australia, New Zealand, England, Scotland, The Republic of Ireland, Wales, Grand Cayman, Poland, the Netherlands, Spain, Qatar, India, Chile, Japan, Singapore, Malaysia, Hong Kong, China, Taiwan, Belgium, Italy, Sweden and the Philippines. All franchised gyms are individually owned and operated. Join one gym and use them all.  For more information about Anytime Fitness and its franchise opportunities, please visit www.anytimefitness.com.