A Virginia company that owns five Gold’s Gyms in the Triangle is converting the health clubs to a new name and promising various improvements for members.McLean, Va.-based Titan Fitness is changing the local Gold’s locations to Fitness Connection clubs. Members will start to notice new signs as early as next week, said Titan spokesman Matt Amodeo.Health clubs changing hands often create hassles related to fees, contracts and other changes that spur complaints among members. But Amodeo said this transition should be seamless for local customers.The clubs’ staff, contracts and prices won’t change. The parent corporation is also the same and Titan plans to add new equipment, age-specific fitness programs, dietitians and other services.”We want to adopt an overall wellness approach,” Amodeo said. “We have more flexibility as an independent chain to add things members have been asking for.”Titan recently bought the Houston-based Fitness Connection chain and ended its affiliation with Gold’s. Titan owns 17 clubs in the Triangle; Greenville, N.C.; Houston, Texas; and Nevada.But one change will effect local members who travel. Previously, they could use other Gold’s Gyms across the country for free.Now members will have access to more than 9,000 clubs in other cities affiliated with the International Health, Racquet & Sportsclub Association. Many will offer free access, but some will charge a small fee, Amodeo said.The conversion of the Gold’s locations in this market will happen over the next three or four months, including various marketing and education efforts to explain the switch, Amodeo said. After that, Titan will look to add more Fitness Connection clubs in this region.The Gold’s Gyms that are converting to Fitness Connection are located in Raleigh at North Hills, on Six Forks Road and on Glenwood Avenue; in Cary on Kildaire Farm Road; and in the Durham side of Research Triangle Park on Emperor Blvd.

A Virginia company that owns five Gold’s Gyms in the Triangle is converting the health clubs to a new name and promising various improvements for members.McLean, Va.-based Titan Fitness is changing the local Gold’s locations to Fitness Connection clubs. Members will start to notice new signs as early as next week, said Titan spokesman Matt Amodeo.Health clubs changing hands often create hassles related to fees, contracts and other changes that spur complaints among members. But Amodeo said this transition should be seamless for local customers.The clubs’ staff, contracts and prices won’t change. The parent corporation is also the same and Titan plans to add new equipment, age-specific fitness programs, dietitians and other services.”We want to adopt an overall wellness approach,” Amodeo said. “We have more flexibility as an independent chain to add things members have been asking for.”Titan recently bought the Houston-based Fitness Connection chain and ended its affiliation with Gold’s. Titan owns 17 clubs in the Triangle; Greenville, N.C.; Houston, Texas; and Nevada.But one change will effect local members who travel. Previously, they could use other Gold’s Gyms across the country for free.Now members will have access to more than 9,000 clubs in other cities affiliated with the International Health, Racquet & Sportsclub Association. Many will offer free access, but some will charge a small fee, Amodeo said.The conversion of the Gold’s locations in this market will happen over the next three or four months, including various marketing and education efforts to explain the switch, Amodeo said. After that, Titan will look to add more Fitness Connection clubs in this region.The Gold’s Gyms that are converting to Fitness Connection are located in Raleigh at North Hills, on Six Forks Road and on Glenwood Avenue; in Cary on Kildaire Farm Road; and in the Durham side of Research Triangle Park on Emperor Blvd.

HOUSTON — Titan Fitness has completed a $4.6 million equity offering, raising the amount from three investors. The owner and operator of 15 Fitness Connection health clubs in Raleigh, N.C., Reno, Nevada, and Houston, Texas is backed by WestView Capital Partners, a $500 million private equity fund based in Boston, and National City Equity Partners, a Cleveland based private equity fund.Executives and directors named in an SEC filing disclosing the capital raise include:

– Jeffrey Skeen, CEO
– A.J. Mushtaq, CFO
– Aaron Lieberman, CDO
– Dal Clayton, COO
– Josh Harwood, SVP
– John Turner from Boston-based WestView Capital Partners
– Matthew Carroll from WestView Capital Partners
– Richard Williams from WestView Capital Partners
– Steve Pattison from Cleveland-based National City Equity Partners

Prior to forming Titan Fitness, Skeen was a principal and the CEO of Titan Management Solutions (TMS), where he worked with Gold’s Gym franchisees in opening and operating gyms throughout the U.S. Before that, Skeen was a principal and CIO of Gold’s Gym International for four years.Headquartered in McLean, Va., Titan creates, acquires, and operate health clubs and says that it intends to purchase health club chains with strong management teams in place that have a focus on growth. Titan says that it will provide the processes, systems and tools for each regional management team to operate as fitness franchise in their respective markets.Earlier this month, Gold’s Gym International announced that it has agreed to part ways with Titan Fitness.
By Brian Wolak

HOUSTON — Titan Fitness has completed a $4.6 million equity offering, raising the amount from three investors. The owner and operator of 15 Fitness Connection health clubs in Raleigh, N.C., Reno, Nevada, and Houston, Texas is backed by WestView Capital Partners, a $500 million private equity fund based in Boston, and National City Equity Partners, a Cleveland based private equity fund.Executives and directors named in an SEC filing disclosing the capital raise include:

– Jeffrey Skeen, CEO
– A.J. Mushtaq, CFO
– Aaron Lieberman, CDO
– Dal Clayton, COO
– Josh Harwood, SVP
– John Turner from Boston-based WestView Capital Partners
– Matthew Carroll from WestView Capital Partners
– Richard Williams from WestView Capital Partners
– Steve Pattison from Cleveland-based National City Equity Partners

Prior to forming Titan Fitness, Skeen was a principal and the CEO of Titan Management Solutions (TMS), where he worked with Gold’s Gym franchisees in opening and operating gyms throughout the U.S. Before that, Skeen was a principal and CIO of Gold’s Gym International for four years.Headquartered in McLean, Va., Titan creates, acquires, and operate health clubs and says that it intends to purchase health club chains with strong management teams in place that have a focus on growth. Titan says that it will provide the processes, systems and tools for each regional management team to operate as fitness franchise in their respective markets.Earlier this month, Gold’s Gym International announced that it has agreed to part ways with Titan Fitness.
By Brian Wolak

After four years as a Gold’s Gym franchisee, Titan Fitness, McLean, VA, is leaving the Gold’s Gym International franchisee fold to develop clubs under the Fitness Connection brand. Fitness Connection is a Houston-based company of seven clubs that Titan Fitness recently acquired for an undisclosed sum. Titan Fitness said it plans to take the Fitness Connection brand national.

“We’re extremely proud of what we were able to achieve as members of the Gold’s Gym family,” Jeff Skeen, CEO and president of Titan Fitness, said in a release from Gold’s Gym, Irving, TX. “We will always have a strong passion for the Gold’s Gym brand and great memories of our time as a franchisee. Leaving the Gold’s Gym family was an extremely difficult decision for us; however, we’re excited about our opportunity to work with a health club brand which we recently acquired as part of our seven gym expansion in the Houston market.”

In January 2008, Skeen and his company secured $200 million in private equity funding to grow its Gold’s Gym portfolio nationwide to 60 open locations in the next five years, the company said at the time. Three years later, Titan had grown to 23 locations including the seven recently acquired Fitness Connection clubs.

Titan Fitness will convert its six Raleigh, NC, clubs, which were purchased from former Gold’s Gym franchisees Kirk and John Galiani, and its two Reno, NV, clubs to the Fitness Connection brand in July. Titan Fitness also has eight clubs in Minnesota, but the release did not state when those clubs would be converted.

AJ Mushtaq, CFO for Titan Fitness, declined to give more details about the decision or future plans, but he said that more details would be forthcoming.

For its part, Gold’s Gym will continue an aggressive growth strategy that features a strong commitment to franchise development and the expansion of its corporate-owned portfolio, according to the release from the company. Gold’s has 700 locations and 3.5 million members in 42 states and 30 countries. The company is reportedly in talks to purchase Bally Total Fitness, Chicago.

“We’re excited about the future of the franchise side of our business,” Gold’s Gym President Jim Snow said in the release. “Last year was one of our best years in terms of franchise development, and we have big plans in store for both our full service and Gold’s Gym Express concepts. We remain committed to being the best franchisor in the space.”

Snow added that Skeen and his team have been outstanding operators and the company appreciated all of their contributions to the Gold’s Gym brand.

“It has been exciting to watch them grow under the Gold’s Gym umbrella and we wish them well in their new endeavors,” Snow said. “We have both evolved our business models and this arrangement works out well for both sides.”

Titan Fitness and Skeen have been star franchisees for Gold’s Gym. In July 2008, Titan Fitness won the Visionary Award from the company for its creativity and leadership in obtaining the $200 million in private equity financing for the acquisition and construction of new Gold’s Gyms and for converting existing independent clubs to the Gold’s brand. That same year, Titan also won the Bravo Award, also known as the Franchisee of the Year Award, from the Gold’s Gym Franchisee Association

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