Integris Partners recently advised PF Michigan Group, LLC on a debt recapitalization led by Fifth Third Bank. PFMG is among the longest-established and largest franchisees within the Planet Fitness system.

Founded in 2007 and headquartered in Northville, MI, PFMG currently operates 30 fitness centers in the Detroit Metro, Grand Rapids, and Toledo OH markets. The centers collectively comprise over 800,000 square feet of gym space and serve almost 300,000 members. More units will be opened by PFMG during the remainder of 2017 and in coming years.

"With our continued growth opportunities, both in our current markets and possibly elsewhere, our primary objective with this recapitalization was to ensure maximum strategic and financial flexibility. Integris was incredibly helpful in working with us to achieve that flexibility, while also delivering a facility with good pricing," said Co-Founder Pete Hopkins. "Fifth Third has a wealth of experience in the Planet Fitness system and we could not be happier with the result."

Added Mr. Hopkins, "The gym and fitness industry continues to evolve and mature. While we have been very successful to date, we take nothing for granted. With this new financing and such a supportive bank group, we are well prepared to continue to be amongst the most dynamic and progressive members of the Planet Fitness system."

Known for its "Judgement Free Zone" ®, Planet Fitness is the fastest-growing full size health club franchise in the US, with over 10.1 million members across 1,367 stores as of March 31. System-wide same-store sales have been positive for 11 straight years. The franchisor became publicly traded on August 11, 2015, and has a current market capitalization in excess of $2.3 billion.