Earth Treks, Planet Granite Merge to Expand Climbing Gym Network.
M2 EQUITYBITES-November 13, 2017-Earth Treks, Planet Granite Merge to Expand Climbing Gym Network
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13 November 2017 - Maryland, US-based climbing guide service Earth Treks Climbing has merged with and California, US-based Fitness and Planet Granite Climbing, Yoga and Fitness to create an enhanced climbing gym network in the US with nine climbing and fitness centres in operation and two more under construction, the companies said.
Terms of the merger transaction were not disclosed.
The combined company has more than 700 employees and serves more than 2m customers each year.
Earth Treks Climbing said the complementary business models allow for operational scale in the San Francisco Bay Area, Denver, Baltimore, Washington DC and Portland.
The company said all gyms would keep their current names and continue to serve their communities at a local level.
This past spring, Earth Treks partnered with private equity firm Tengram Capital Partners, specialises in consumer brands.
Earth Treks Climbing and Fitness was founded as a climbing guide service and operates climbing gyms with five full-service facilities in three states. Earth Treks gyms feature sculpted climbing walls with bouldering, top-roping and lead climbing, as well as amenities like yoga studios, functional fitness and cardio zones, and retail pro-shops.
Planet Granite Climbing, Yoga and Fitness operates three gyms in California and one in Oregon.
Tengram Capital Partners is focussed on leading consumer and retail companies. Current and former investments for Tengram include Earth Treks, DevaCurl, Algenist, Cos Bar, Zanella, This Works, Laura Geller, Active Ride Shop, NEST Fragrances, and Sequential Brands Group.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Nov 13, 2017|
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