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Capital and M&A

Capital and M&A raise practical questions about how fitness businesses grow, combine, and find the right partners. These conversations offer a place to explore them through merger decisions, private equity experience, and relationships behind deal flow. Fritz Lanman and Philipp Roesch-Schlanderer discuss integration priorities, investment capacity, and what their combination could mean for operators. Jon Canarick revisits investments in Equinox and Curves, including the challenge of bringing nutrition and fitness together. Jon Ward considers how trusted networks can connect founders with capital and support partnerships across fitness, wellness, and healthcare. Along the way, guests examine where scale might help, where business models constrain expansion, and how leaders weigh new opportunities without losing focus on the businesses they run every day.

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Latest conversations

Sebastien Lagree - Lagree Fitness: 25 Years of Building to an Overnight Global Explosion50 min

capital

Sebastien Lagree - Lagree Fitness: 25 Years of Building to an Overnight Global Explosion

Sebastien Lagree

Brian Von Ancken - Wellness Growth Mastermind: How to Build a Thriving Industry Community41 min

capital

Brian Von Ancken - Wellness Growth Mastermind: How to Build a Thriving Industry Community

Brian Von Ancken

The Assembly: Reimagining How Industry Leaders Connect and Collaborate44 min

capital

The Assembly: Reimagining How Industry Leaders Connect and Collaborate

The Assembly

Juliet Starrett & Alex Alimanestianu - Quarterly Reports: Peloton, Life Time, Planet Fitness, Garmin & The Business of Longevity90 min

capital

Juliet Starrett & Alex Alimanestianu - Quarterly Reports: Peloton, Life Time, Planet Fitness, Garmin & The Business of Longevity

Julie Cartwright - 300% Digital Growth and 22 Studios: Pvolve's Omni-Channel Strategy47 min

capital

Julie Cartwright - 300% Digital Growth and 22 Studios: Pvolve's Omni-Channel Strategy

Julie Cartwright

Mike Goscinski - 27 Words That Could Change Everything: The PHIT Act's Legislative Journey39 min

capital

Mike Goscinski - 27 Words That Could Change Everything: The PHIT Act's Legislative Journey

Mike Goscinski

Lise Kuecker - The State of Boutique: M&A Activity, Pilates Trends, and Opening Strategies45 min

capital

Lise Kuecker - The State of Boutique: M&A Activity, Pilates Trends, and Opening Strategies

Lise Kuecker

Anthony Vennare - The Future of Fitt Insider55 min

capital

Anthony Vennare - The Future of Fitt Insider

Anthony Vennare

Paul Byrne - Navigating MAHA: The Future of Fitness in American Healthcare49 min

capital

Paul Byrne - Navigating MAHA: The Future of Fitness in American Healthcare

Paul Byrne

Juliet Starrett & Alex Alimanestianu - Quarterly Reports: The Big Five, HUGE Industry Transactions, & Casey Means as Surgeon General70 min

capital

Juliet Starrett & Alex Alimanestianu - Quarterly Reports: The Big Five, HUGE Industry Transactions, & Casey Means as Surgeon General

Edward Hertzman - Athletech's Innovation Summit51 min

capital

Edward Hertzman - Athletech's Innovation Summit

Edward Hertzman

Sam O'Keefe - Unlocking the $150 Billion HSA/FSA Opportunity40 min

capital

Sam O'Keefe - Unlocking the $150 Billion HSA/FSA Opportunity

Sam O'Keefe

Darren MacDonald - The Future of Tonal47 min

capital

Darren MacDonald - The Future of Tonal

Darren MacDonald

Dana Milkie - Smart Strength and AI: EGYM's North American Strategy43 min

tech

Dana Milkie - Smart Strength and AI: EGYM's North American Strategy

Dana Milkie

David Knies - The 5 Forces Driving the Next Trillion Dollars in Wellness45 min

capital

David Knies - The 5 Forces Driving the Next Trillion Dollars in Wellness

David Knies

Tim Green - TeamUp & The Golden Age of Fitness Entrepreneurship42 min

operators

Tim Green - TeamUp & The Golden Age of Fitness Entrepreneurship

Tim Green

Heather Dietrick - Outside Interactive: Inspire, Activate, Celebrate46 min

capital

Heather Dietrick - Outside Interactive: Inspire, Activate, Celebrate

Heather Dietrick

Benji Donhardt - Supafitgrow: Innovations in Gym Marketing44 min

operators

Benji Donhardt - Supafitgrow: Innovations in Gym Marketing

Benji Donhardt

Juliet Starrett  & Alex Alimanestianu - Quarterly Reports: Peloton, Life Time, Planet Fitness, Garmin & The MAHA Effect68 min

capital

Juliet Starrett & Alex Alimanestianu - Quarterly Reports: Peloton, Life Time, Planet Fitness, Garmin & The MAHA Effect

Bryan O'Rourke - The Intersection of Fitness, Technology, and Global Trends49 min

tech

Bryan O'Rourke - The Intersection of Fitness, Technology, and Global Trends

Bryan O'Rourke

David Meltzer - Leveraging The Fitness Industry's Transformation32 min

capital

David Meltzer - Leveraging The Fitness Industry's Transformation

David Meltzer

Emma Barry - Gen Z & Massive Systemic Change56 min

capital

Emma Barry - Gen Z & Massive Systemic Change

Emma Barry

Troy Taylor - Tonal 2 & Tonal Training Lab46 min

capital

Troy Taylor - Tonal 2 & Tonal Training Lab

Troy Taylor

Mia Kyricos - The Wellness Renaissance54 min

capital

Mia Kyricos - The Wellness Renaissance

Mia Kyricos

Voices in the conversation

From the conversations

How are the merger leaders approaching integration?

“And so we've been very, very cautious about integration for the sake of integration and have spent a lot of energy thinking about okay, how do we make sure we work really well together?”

Inside the $7.5B Merger Behind Mindbody, ClassPass and EGYM with Fritz Lanman & Philipp Roesch-Schlanderer · 7:33 ↗

What happened when Canarick's team combined fitness and diet through the Jenny Craig acquisition?

“Uh, we ended up buying Jenny Craig uh as part of that. And so we actually sort of brought in this we created this combined center trying to bring fitness and diet together under one roof. I'm I'm I'm not embarrassed to tell you it did not work.”

Jon Canarick, North Castle Partners, on Curves, Equinox, and GLP-1s in Fitness · 8:00 ↗

How does Ward describe capital introductions within his network?

“Or you're looking for capital. I know a guy like literally fits this family office model that you're talking about, and he knows other people. Can I connect you? Yeah, like who is he? Sends the link, there you go, off and running.”

The Assembly Founder Jon Ward on GLP-1s, Deal Flow and Fitness's Future · 21:21 ↗

THE FUTURE OF FITNESS NEWSLETTER

What I’m paying attention to.

Every week, I talk with founders, operators, investors and scientists across fitness, health and wellness, then share the ideas that stayed with me, the shifts worth watching and what they could mean for the industry.

Free, every week, plus our quarterly State of Fitness report. Leave anytime.