HGGC Sells Grand Fitness Partners to Flynn Group

Private equity firm HGGC completes sale of fitness chain to Canadian buyer

Mar. 31, 2026 at 7:12pm

Got story updates? Submit your updates here. ›

A high-end, photorealistic studio still-life photograph featuring a set of polished metal and glass weights, a sleek exercise mat, and a minimalist water bottle, all arranged elegantly on a clean, monochromatic seamless background, conceptually representing the strategic business dynamics of the fitness industry.The sale of Grand Fitness Partners to the Flynn Group signals ongoing consolidation in the lucrative U.S. fitness industry.Palo Alto Today

HGGC, a private equity firm based in Palo Alto, California, has announced the completion of its sale of Grand Fitness Partners, a national fitness club chain, to the Flynn Group, a Canadian investment firm. The financial terms of the deal were not disclosed.

Why it matters

The sale represents a significant transaction in the highly competitive fitness industry, as large private equity firms continue to acquire and consolidate regional and national gym operators. The deal also highlights the growing interest of Canadian investors in the U.S. fitness market.

The details

Grand Fitness Partners operates over 150 fitness centers across the United States. HGGC, which acquired the company in 2021, has now sold it to the Flynn Group, a Canadian private investment firm focused on the health and wellness sector. The transaction will allow Grand Fitness Partners to expand its footprint and capitalize on growing consumer demand for fitness services.

  • HGGC acquired Grand Fitness Partners in 2021.
  • The sale to the Flynn Group was completed on March 31, 2026.

The players

HGGC

A private equity firm based in Palo Alto, California that focuses on middle-market companies.

Grand Fitness Partners

A national fitness club chain that operates over 150 locations across the United States.

Flynn Group

A Canadian private investment firm that specializes in the health and wellness sector.

Got photos? Submit your photos here. ›

What they’re saying

“This transaction allows Grand Fitness Partners to build on its strong foundation and expand its reach to serve even more customers across the country.”

— Rich Lawson, CEO, HGGC

“We are excited to partner with the Grand Fitness team and leverage our expertise in the health and wellness space to drive the company's continued growth.”

— Michael Flynn, Founder and CEO, Flynn Group

What’s next

The transaction is expected to close in the second quarter of 2026, subject to customary regulatory approvals.

The takeaway

This deal highlights the ongoing consolidation in the fitness industry, as large private equity firms continue to acquire regional and national gym operators to capitalize on growing consumer demand for health and wellness services.