To help it toward its goal of opening more than 300 studios by 2017, Orangetheory Fitness, Fort Lauderdale, Florida, received growth equity investment in an undisclosed sum from an affiliate of Roark Capital Group, an Atlanta-based private equity firm that focuses on investing in the franchise industry, Orangetheory announced.
"We decided to engage Roark as a strategic investor to support us as we continue to experience rapid growth in the U.S. and internationally, as well as expand our product and service quality," said Dave Long, co-founder and chief executive officer of Orangetheory Fitness. "Our relationship with Roark will strengthen our mission to deliver proven fitness results for a healthier world."