Who Owns 24 Hour Fitness?

24 Hour Fitness is a popular fitness center chain in America that offers a wide range of services including personal training group exercise classes access to state-of-the-art gym equipment. Founded in San Leandro California in 1983 the company has grown to become one of the largest fitness club chains in the country with over 400 locations millions of members.

The Early Days of 24 Hour Fitness:

24 Hour Fitness was founded in 1983 by Mark Mastrov a fitness enthusiast who wanted to create a gym that would provide a convenient affordable way for people to get in shape. The company’s first location was a small gym in San Leandro California where Mastrov worked with just two other employees. Soon however the company began to grow opening new locations throughout California expanding into other states.

Expansion Growth:

By the early 2000s 24 Hour Fitness had become one of the largest fitness club chains in the country with over 400 locations millions of members. The company continued to innovate introducing new programs services to meet the changing needs of its members. For example in 2005 24 Hour Fitness introduced a new program called “My24” which allowed members to access personalized fitness plans track their progress online.

The Ownership of 24 Hour Fitness:

Today 24 Hour Fitness is owned by AEA Investors the Ontario Teachers’ Pension Plan. AEA Investors is a private equity firm that specializes in investing in middle-market companies while the Ontario Teachers’ Pension Plan is one of the largest pension funds in Canada. The two firms acquired 24 Hour Fitness in 2014 from Forstmann Little & Co. a private equity firm that had previously owned the chain.

The Future of 24 Hour Fitness:

With its new ownership structure in place 24 Hour Fitness is poised for continued growth success in the years ahead. The company has continued to expits services introducing new programs like “24Go” which offers personalized workout suggestions based on the member’s fitness goals preferences. In addition 24 Hour Fitness has invested in new technology equipment such as the state-of-the-art indoor cycling bikes used in its popular “RPM” class. With its commitment to innovation customer satisfaction 24 Hour Fitness is likely to remain a fixture in the American fitness landscape for years to come.