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24 Hour Fitness is a privately held and operated fitness center chain headquartered in Carlsbad, California. It is the second largest fitness chain in the United States based on revenue after LA Fitness , [ 3 ] and the fourth in number of clubs (behind LA Fitness, Anytime Fitness and Gold's Gym ), [ 4 ] operating 287 clubs across 11 U.S. states.
In 1998 David Giampaolo and Mark Mastrov co-founded Fitness Holdings Europe, a private-equity-backed investment vehicle, to open and acquire small chains of European health clubs. [ citation needed ] Fitness Holdings Europe was merged into 24 Hour Fitness Worldwide, Inc. in 2000. [ 2 ]
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Bally Total Fitness acquired Crunch in 2001 for $90 million in cash and stock, [14] holding the brand for four years. In 2005 Angelo, Gordon & Co., a private equity firm, purchased Crunch from Ballys for $45 million, and in 2009 added New Evolution Fitness Company ("NEFC"/New Evolution Ventures), a company founded by Mark Mastrov (founder of 24 hour fitness) and fitness Veteran Jim Rowley, as ...
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