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Is Planet Fitness Owned by Private Equity?

Not anymore — Planet Fitness was owned by TSG Consumer Partners, which acquired it in 2012, but the firm has since exited. The effects of that ownership can linger.

FORMERLY PE OWNED

Planet Fitness

Includes PlanetFitness

gym chain · Hampton, NH

PE Firm
TSG Consumer Partners →
Year Acquired
2012

The $10 gym that PE turned into a $15 gym. They called the 50% hike 'evolution.'

What Happened

  1. TSG Consumer Partners bought a majority stake in November 2012 for about $479 million; co-founder stepped down as CEO shortly after
  2. Taken public in 2015, shifting focus from member experience to shareholder returns
  3. Raised the iconic $10/month 'Classic' membership to $15 in 2024 — the first price hike in 26 years, a 50% increase
  4. Planned to raise Black Card membership to $29.99/month (from $24.99) in 2026, then paused the national rollout in May 2026 after member growth stalled

The Damage Done

  • Raised the iconic $10/month 'Classic' membership to $15/month in summer 2024 — a 50% price hike and the first increase in 26 years
  • Black Card membership was set to rise to $29.99/month from $24.99 — a 20% increase — before Planet Fitness paused the national rollout in May 2026 when member growth stalled

Sources

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Also owned by TSG Consumer Partners

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What people ask

Is Planet Fitness owned by private equity?

Not anymore. Planet Fitness was formerly owned by TSG Consumer Partners starting in 2012, but the firm has since exited. The effects of PE ownership often linger.

What happened to Planet Fitness after the acquisition?

Raised the iconic $10/month 'Classic' membership to $15/month in summer 2024 — a 50% price hike and the first increase in 26 years. Black Card membership was set to rise to $29.99/month from $24.99 — a 20% increase — before Planet Fitness paused the national rollout in May 2026 when member growth stalled.

Who owns Planet Fitness?

Planet Fitness is no longer private-equity owned. It was owned by TSG Consumer Partners, which acquired it in 2012, but that ownership has since ended.

Next squeeze →

Bob Evans

“PE bought the restaurants but not the sausage that made them famous. A hundred closures later, they passed the leftovers to another PE firm.”

4x4 Capital · restaurant