26North Partners LP, a next-generation alternatives firm founded by Josh Harris, announced today that it has acquired leading health club operator Onelife Fitness from Delos Capital.
With locations across the Mid-Atlantic and Southeastern United States, Onelife Fitness is a high value fitness club delivering a premium health and wellness experience with high-end amenities at affordable rates. Onelife Fitness currently serves over 400,000 members across 61 clubs, with plans for significant growth.
“Onelife is a fantastic opportunity to back what we believe to be a best-in-class operator and enduring platform in a growing category that is underpinned by a long-term consumer focus on physical fitness and wellness,” said Mark Weinberg, 26North Partner and Head of Private Equity. “We are excited to use 26North’s Alpha Creation Team (ACT) to enhance Onelife’s growth.”
Kirk and John Galiani founded Onelife Fitness to give members a premium experience and amenities at an affordable price. Along with CEO Ori Gorfine, they have remained true to that vision, achieving strong operational and financial metrics, while steadily increasing the company’s footprint.
“We are thrilled to partner with Ori, Kirk, John, and the rest of Onelife’s leadership team to build on the strong foundation they have established in their core markets,” said Gary Freilich, 26North Private Equity Partner. “With our backing, Onelife will continue its efforts to innovate its service offerings and introduce new clubs in additional cities, all while keeping the member at the center of everything Onelife does.”
“Onelife is committed to taking care of people – from our passionate team to each individual member who walks through our doors,” said Gorfine. “We have grown over the years organically as communities clamor for a fitness concept that offers compelling value – high-end experiences and top amenities at affordable rates. We could not be more excited to marry our successful formula with 26North’s experience, resources and guidance to bring Onelife Fitness to the next level.”
“It is amazing to see how Onelife Fitness has grown. It is a testament to the brand’s value proposition and our incredible team.” said founders Kirk and John Galiani. “While we couldn’t be prouder of what has been accomplished, after developing a trusting relationship with Josh Harris and his team, we are convinced the best years of Onelife Fitness are ahead.”
“We are excited for 26North to acquire Onelife and are confident in their capabilities to take the business to the next level,” said Delos Managing Partner Matt Constantino. “We have known the Onelife team since 2012, have developed deep relationships with them and have built a robust knowledge of the business and industry. Together, the team has created immense value and has built a leading platform that we believe is poised for continued growth.”
Jefferies LLC and North Point served as financial advisors to Onelife Fitness. Kirkland & Ellis served as legal counsel to 26North. Financial terms of the transaction were not disclosed.
ABOUT 26NORTH
26North Partners LP is an integrated, multi-asset class investment platform that provides investment advice and opportunities to its clients related to a variety of investment strategies, including, but not limited to, private equity, credit, and insurance and reinsurance solutions. The 26North team brings decades of experience managing third-party capital to help clients achieve their financial goals while leaving a lasting impact on the communities where they operate. Since launching in late 2022, 26North has grown to approximately $23 billion in assets under management.
ABOUT ONELIFE FITNESS
Founded in 2011, Onelife Fitness began with a singular goal of developing the most welcoming and modern health clubs that could deliver unparalleled value, without compromising on amenities and service. The company offers the latest in cardio and strength equipment, functional turf workout areas, indoor saltwater pools, expansive kids clubs, advanced personal training programs, and a variety of boutique studio classes – all complemented by upscale spa facilities and premium recovery offerings. Currently supported by more than 5,000 professional team members, Onelife Fitness operates over 60 locations throughout the District of Columbia, Maryland, Virginia, Georgia, South Carolina, and West Virginia.
