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🠈  Life Time Fitness  🠊

Lifetime Fitness

Lifetime Fitness is a chain of luxury fitness clubs headquartered in Chanhassen, Minnesota. The clubs tend to be located in affluent neighborhoods. Membership fees vary by location. They seem to run from $50 to well over $150 a month for the ritzy place. That keeps the riff-raff like me away.

The chain was founded in 1990 by Bahram Akradi in Minnesota as FCA, Ltd.. The company held an IPO on the NYSE with the symbol LTM. They sold 4,383,577 of 9,900,000 shares at $18.5 per share.1 The IPO opened at $20.75 and hit a peak of $72.07 before close.

The club expanded to affluent suburbs around the country. In 2015, Leonard Green Partners and TPG Capital acquired the club for $72.10 in a $4 billion dollar deal.3

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References:

  1. Business Wire - IPO (Drawn 10/20/2019)
  2. Wikipedia - Life Time Fitness (Drawn 10/20/2019)
  3. Club Industry - Life Time Fitness Acquisition Complete (Drawn 10/20/2019)

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