Up to $ 50,000,000 from GE Capital, fuel growth at Planet Fitness
Newington, NH (openPR) 1 October 2010
Planet Fitness, which have taken the cheap gyms a nerve among consumers and revolutionized the industry once dominated by large health clubs, an agreement with GE Capital has an installation of dollars in loans that help fuel the company’s articles of association reached a franchise? Expansion. The plant can be increased to millions, under certain conditions.
â? Because of the GE Capital? s deep expertise, theyâ? Smart subscription-ready and willing to make significant financial commitments for growth companies, â? Jayne said Conway, CFO of Planet Fitness. â? This gives us both the liquidity and flexibility we need for our daily operations and facilitate our growth plans.â ????
Planet Fitness, which has exceeded 0 million in sales on the system in 2009, for three consecutive years, Inc. Magazine? s list of the most dynamic enterprises and the private sector in America. The company created the concept most profitable industry in the North American dollar fitness model by combining a very low price? Memberships are only a month? Judgement Free Zone ® without pressure.â? Capital to provide fast-growing company is one of our specialties, â? Tom Quindlen, president and CEO of GE Capital, Corporate Finance. â? This means that the close cooperation with customers to understand their needs, deliver the right solution and what you ????
promise.â
Added
CEO Michael Grondahl Planet Fitness, â? Shut off the TV. Dona? T hear alarmist. For large companies like GE and Planet Fitness, America will only fine.â ????
founded in 1992, was the New Hampshire-based Planet Fitness gyms in just four New Hampshire, where he began franchising in 2003. Today the company has a national footprint? more than 350 locations in 38 states, more than 1,000 units in the United States and Puerto Rico sold, and seen an advertisement and nation belongs to the A? Imus in the Morning? Radio and Fox Business Channel.
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