HOUSTON — Titan Fitness has completed a $4.6 million equity offering, raising the amount from three investors. The owner and operator of 15 Fitness Connection health clubs in Raleigh, N.C., Reno, Nevada, and Houston, Texas is backed by WestView Capital Partners, a $500 million private equity fund based in Boston, and National City Equity Partners, a Cleveland based private equity fund.Executives and directors named in an SEC filing disclosing the capital raise include:
– Jeffrey Skeen, CEO
– A.J. Mushtaq, CFO
– Aaron Lieberman, CDO
– Dal Clayton, COO
– Josh Harwood, SVP
– John Turner from Boston-based WestView Capital Partners
– Matthew Carroll from WestView Capital Partners
– Richard Williams from WestView Capital Partners
– Steve Pattison from Cleveland-based National City Equity Partners
Prior to forming Titan Fitness, Skeen was a principal and the CEO of Titan Management Solutions (TMS), where he worked with Gold’s Gym franchisees in opening and operating gyms throughout the U.S. Before that, Skeen was a principal and CIO of Gold’s Gym International for four years.Headquartered in McLean, Va., Titan creates, acquires, and operate health clubs and says that it intends to purchase health club chains with strong management teams in place that have a focus on growth. Titan says that it will provide the processes, systems and tools for each regional management team to operate as fitness franchise in their respective markets.Earlier this month, Gold’s Gym International announced that it has agreed to part ways with Titan Fitness.
By Brian Wolak