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| CBI Interview |
CBI: What do you regard as your MM: The Fitcorp business has turned MM: We have a lot of locations in
principal selling strengths? out to be a great acquisition because New York City, Boston, Chicago, Hous-
MM: Our experience in customer
the cultures of the two companies are ton, and metropolitan New York, and
service, and our ability to deliver what
very similar. Dave Shelby, the regional
Northern and Southern California.
high-profile companies want. We have
vice president who handled all of
We have no plans to go overseas.
well-trained people who understand
those accounts, came with the acqui-
our mission and our values, and can
sition, and he’s doing a great job.
CBI: Do you have any plans to take
serve our clients in a wide variety of
Since the purchase, we’ve opened
Plus One public? And what’s your
corporate environments. In addition,
two more locations for one of our
personal exit strategy?
we have more than 20 years of experi-
biggest Boston-area clients. TimeOut
ence in the design and development of
Services, which serves Northern
MM: No. We’d have to be in the
facilities, and are able to save clients
California, reflects our strategy to
$250-$500-million revenue range
an average of 30% on their fitness
establish a national presence. We
to make a public offering feasible.
equipment purchases.
were already operating in Southern
Our private-equity investors, Crystal
California, but this acquisition took
Ridge Partners, of Princeton, New
us into Silicon Valley. Big clients
Jersey, with whom we signed three
CBI: In 2006, you acquired 17 cor-
look for geographic reach.
years ago, just expanded our available
porate clients from Fitcorp, the
working capital to facilitate acquisitions,
Boston-based company that serves
as well as the buy-back of shares from
some 175 firms, and last year, you
CBI: You now manage 117 programs
existing shareholders to consolidate
acquired TimeOut Services, Inc., in 17 states. Are they clustered
ownership, so we’re comfortable
a Cupertino, California, firm that in particular parts of the country?
with respect to funding. Personally,
provides a similar range of fitness What about overseas? Do you
I’m still having fun doing what I do,
services. Tell us a bit about the manage any facilities there or so retirement isn’t in the cards for
thinking behind those moves. intend to do so in the near future? me anytime soon. I’m focused on
In the age of competition how much do you stand out?
Better trained staff means more satisfied members & an increased bottom line.
The American Council on Exercise® (ACE®)
is your resource for:
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U4851 Paramount Drive, San Diego, CA 92123 Uwww.acefitness.org U800.825.3636
IHRSA CBI Half Horizontal 2009.indd 1 9/3/2009 10:37:55 AM
www.ihrsa.org | JANUARY 2010 | Club Business International
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