FBC
UPFRONT» Happenings
24 Hour Fitness Acquired by AEA Investors, Ontario Teachers’ Pension Plan and Fitness Capital Partners Company Names New CEO, President 24 Hour Fitness USA, Inc. announced that AEA Investors, a leader in the private eq-
uity industry; Ontario Teachers’ Pension Plan, Canada's largest single-profession pension plan – and one of the world’s largest; and Fitness Capital Partners, a fund organized by Dean Bradley Osborne and Global Leisure Partners have completed their acquisition of the Company from Forstmann Little & Co. 24 Hour Fitness also announced that Mark Smith will join as Chief Executive Officer,
and Frank Napolitano has been named President. “I’m honored and delighted to lead 24 Hour Fitness – which has pioneered so many
breakthroughs in the fitness industry – into the next chapter of the Company’s success,” said Mark Smith. “I’d like to thank former owner Forstmann Little for its strategic guid- ance of 24 Hour Fitness through a period of solid growth, and former CEO Elizabeth Blair for her execution through the acquisition. Our new owners are firmly committed to sup- porting a strong, sustainable future, and I look forward to working with 24 Hour Fitness executives and team members whom I have come to know as a talented and intensely motivated team.” Smith and his family will relocate from Australia, and he will take office in July.
Until then, the Office of the CEO has been established and will report to the Board of Directors for 24 Hour Fitness. The Office of the CEO comprises Frank Napolitano; Danny De La Rosa, President of Clubs; and Patrick Flanagan, Chief Financial Officer. Terms of the transaction were not disclosed.
EVENTS
canfitpro International Fitness and Club Business Conference and Trade Show, August 6 – 10, 2014, Toronto
Meet industry leaders, attend sessions, and walk the trade show as you learn more about the fitness industry in Canada. See conference details on page 12, and a listing of sponsors and exhibitors on page 36.
ParticipACTION Funding Slashed
million $2 million – without warn- ing, seven years after Prime Minister Stephen Harper’s government revived the organization that launched in 1971, says
Canada.com. ParticipACTION’s most famous
T
and lasting marketing message com- pared the fitness level of the aver- age 30-year-old Canadian to that of a 70-year-old Swede. According to
Canada.com, the re-
sponse of Dr. Mark Tremblay, direc- tor of healthy active living and obesity research at the Children’s Hospital of Eastern Ontario Research Institute in Ottawa, is that, “It makes no sense.”
Canada.com reports that the group
hopes to find a champion in the fed- eral government to help get its fund- ing restored. In the meantime, it is regrouping and doing some strate- gic planning about the future and its business model.
NEW PLATFORM FOR CANADA’S PRIMARY FITNESS INDUSTRY DIRECTORY
F
Idea World Fitness Convention August 13–17, Anaheim, CA
The IDEA World Fitness Convention features diverse educational programming from world-renowned presenters. Explore 330+ sessions in personal training, sports conditioning, group training, nutrition, business, marketing and much more!
Visit
www.ideafit.com for details. 10 Fitness Business Canada July/August 2014
Club Industry Show 2014 October 22-24, 2014, Mccormick Place Lakeside Center, Chicago, il
Now in its 29th year, discover this premiere opportunity to scout the latest trends in fit- ness, learn best practices for addressing your clients’ needs, and access tools for advancing your business. The goal of the Club Industry Show is to connect, equip and encourage fit- ness and wellness professionals so you can bring more health to more people.
Visit
www.clubindustryshow.com for details.
itnessBusinessCanada.com, in partnership with Fitness Find, is pleased to announce the launch
of a new online Products, Services and Education Directory. The new di- rectory allows fitness suppliers who are dedicated to serving the needs of Canadian health and fitness provid- ers to list their businesses products, core services and education offerings in one easy-to-access location. Search by company or product category to see who is dedicated to serving you. Select a company to read its profile, watch videos, review products or link to so- cial media. Experience the new online
directory today by visiting
www.FitnessBusinessCanada.com or
www.FitnessFind.ca.
he federal government has re- duced ParticipACTION’s fund- ing by 55 per cent – from $4.5
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