About the Transaction
Paramax Corporation acted as exclusive financial advisor to Messina Fit Holdings, Inc. (“MFHI”) and its subsidiaries on the sale of health clubs operating as World Gym franchises to Crunch, LLC (“Crunch”). By making this acquisition, Crunch took advantage of the opportunity to acquire five well-established locations within one geographic area, namely in the Greater Buffalo, NY area. Going forward, the locations will operate under the Crunch brand. Adding to their one existing location in the area, Crunch significantly increased their profile in this geography.
About Messina Fit Holdings, Inc.
MFHI and its subsidiaries operated the largest gym chain in the Greater Buffalo, NY area. As the only World Gym franchisee in the area, MFHI operated five health-club franchises in Hamburg, NY, Tonawanda, NY, Cheektowaga, NY, Williamsville, NY, and Niagara Falls, NY. Collectively the gyms had over 30,000 members.
About Crunch, LLC
Crunch owns, operates, and franchises fitness centers in the United States and Australia. It offers hip-hop aerobics, co-ed action wrestling, yoga, cycling, and other classes, as well as personal and treadmill training services in its corporately owned and franchised locations. Crunch was founded in 1989 and is based in New York, New York.