Bunker Hill Capital has sold its portfolio company California Family Fitness – an owner and operator of fitness centers in the greater Sacramento metropolitan area – to Perpetual Capital Partners.
California Family Fitness (CFF) currently has 19 mid-to-large format club locations, each of which offers a selection of exercise equipment, swimming pools, basketball and racquetball courts. Other services include fitness class instruction, child care, tanning, sauna and steam rooms, and organized sports leagues. The company is headquartered northeast of Sacramento in Orangevale, CA (www.californiafamilyfitness.com).
“Bunker Hill Capital helped us grow from an entrepreneurially run company to a more developed, professionally run organization,” said Randy Karr, President of California Family Fitness. “The team from Bunker Hill helped us think more strategically about our business and helped put in place the necessary tools and controls to execute our strategy.”
Bunker Hill makes control investments in lower middle market companies with EBITDAs between $5 million and $20 million, and enterprise values up to $120 million. Sectors of interest include industrial products, business services, consumer products, and specialty retail. The firm has offices in Boston and San Diego (www.bunkerhillcapital.com).
“We are very pleased with the sale of California Family Fitness and are confident that the company will continue its impressive growth trajectory,” said Rufus Clark, a Bunker Hill Managing Partner. “We are grateful to the co-founders of CFF- Russ Kuhn and Larry Gury – for partnering with us on this transaction, and to Randy Karr, Cherrie Fosco and the entire CFF management team for their hard work and devotion to the business over the years.
Perpetual Capital Partners, the buyer of CFF, acquires and makes growth equity investments in companies with a minimum of $2 million of annual cash flow. Sectors of interest include media and communications; distribution and logistics; business and financial services; and branded products including consumer goods and services, and industrial products. The firm is headquartered in Arlington, VA (www.perpetualcapitalpartners.com).
Perpetual Capital Partners is backed by the Allbritton family and is related to other investments of the family including Allbritton Communications Company, a media company that holds broadcast television and other assets throughout the country including WJLA-TV/NewsChannel 8 in Washington, DC, and POLITICO, a new media political news website and newspaper.
Piper Jaffrey & Co. (www.piperjaffray.com) advised CFF and Bunker Hill on the sale to Perpetual Capital Partners.
© 2016 PEPD • Private Equity’s Leading News Magazine • 1-8-16
