Expanding The Country’s Largest Health Club Operator into the Northeast!
Rochelle Park, NJ – The DAK Group, a leading investment bank specializing in middle-market mergers and acquisitions worldwide, announces the sale of its client, The Atlantic Club to Genesis Health Clubs, the largest privately owned health club provider in the country. The clubs are the first in both New Jersey and the Northeastern USA for Genesis, bringing its total club count to 68.
The DAK Group served as the exclusive investment banker and financial advisor to The Atlantic Club, initiating and managing the process.
The Atlantic Club (TAC) is an award-winning Health, Fitness, Wellness Center, and Spa nestled on a 42-acre campus in Manasquan, NJ, with a satellite campus in Red Bank, NJ. The Manasquan facility is known for its comprehensive services that include a state-of- the art fitness center, indoor and outdoor Aquatic and Tennis Centers, indoor turf field, outdoor sports fields, an Early Learning Center for Pre-school, and a spa and salon. TAC offers programs to a wide range audience from adults, elderly, toddlers to high schoolers and sports teams.
“The owners of The Atlantic Club have built an exceptional business with an excellent reputation and loyal, devoted customers. This transaction has provided them the opportunity to gain a strategic partner to accelerate their vision of growth” stated Elyse Greenbaum, Director, at The DAK Group who lead the transaction along with Marvin Ma, Senior Associate.
Kevin McHugh, previously president and COO of The Atlantic Club, has accepted a management role in the new Genesis organization which involves overseeing the clubs along with the current leadership team and staff across both facilities “We’re excited to be able to continue providing everyone the same great product they’ve enjoyed for years, and also to become a part of a fitness leader like Genesis that will support the growth of all of our businesses and willingness to reinvest into both campuses future growth,” said McHugh.
About DAK
www.dakgroup.com
The DAK Group is a leading investment bank serving mid-market privately held businesses in the areas of mergers and acquisitions, business sales, strategic leadership advisory, valuations, and fairness opinions. Since 1984, The DAK Group has executed hundreds of transactions across a wide range of industries. The DAK Value Accelerator is the propriety process that allows clients to maximize the value of their business. The DAK Group is headquartered in Rochelle Park, NJ.
About The Atlantic Club
www.theatlanticclub.com
The Atlantic Club (TAC) is a luxury lifestyle and wellness oasis set on 42 acres in central New Jersey, with an additional state-of-the-art fitness center in downtown Red Bank, NJ. The expansive campus is a comprehensive destination, providing an exceptional array of fitness, recreational, wellness, and social programs. In addition, The Atlantic Club has been a pioneer in the medical fitness and preventive care arena for over a decade, recently earning a highly prestigious Medical Fitness Certification.
About Genesis Health Clubs
www.genesishealthclubs.com
One of the country’s largest privately owned fitness centers, Genesis, now has 68 clubs across 10 states. The company started in Wichita Kansa in 1994 as a single location and now has locations in Kansas, Missouri, Nebraska, Oklahoma, Colorado, Florida, Iowa, Kentucky, Indiana, and New Jersey. AT each location, members will find top of the line, state-of-the-art equipment and the latest and greatest in fitness trends from around the country. Each club also provides specialized amenities and services including childcare, tanning beds, basketball courts, steam rooms, indoor and outdoor tennis courts, Pilates training studios and more.
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