Process Peak Capital And Concentric Equity Partners Acquire Liberty Fitness Inc

Acquisition brings capital and senior management direction

CARLSBAD, CALIFORNIA (Wednesday, July 07, 2004) - Process Peak Capital and Concentric Equity Partners today announced the acquisition of the assets of Liberty Fitness Inc., which includes 55 women-focused fitness centers across 14 states. The newly formed entity will be named Liberty Fitness Holdings, LLC.

“The combination of these three entities creates an executive management team with the substantial experience necessary to succeed in the “high growth” women’s fitness industry,” said Jeff Stevens, the new CEO of Liberty Fitness Holdings, LLC. “We are excited to apply our talented resources and strategic vision to increase our share of this growing market.”

Liberty Fitness is a franchise company offering a 30-minute “personal-touch” circuit training workout and fitness system for women. Liberty ’s unique proprietary fitness equipment is designed and built especially for the safety of women and provides a higher level of flexibility and control with its adjustable hydraulic components.

The financial partners involved in the acquisition are Process Peak Capital and Concentric Equity Partners. Process Peak Capital is a private investment company that caters to the needs of the franchise industry by acquiring and operating small and medium-sized franchise operations nationwide. Concentric Equity Partners is a private equity firm focused on growth investments, middle market management buyouts and later stage venture capital investments.

The acquisition will promote accelerated growth of the Liberty Fitness concept, explained Joe Harper, one of the founders of Liberty Fitness who has assumed the role of Senior Vice President of Operations in the new entity.

To ensure the growth and development of the franchise concept, Liberty Fitness Holdings, LLC developed a four-prong visionary plan, which includes leveraging the company’s proprietary equipment, and the ongoing development of its certified “personal-touch” franchisee training programs.

The plan also includes the design and execution of results-driven brand marketing and sales programs and the development of proven business models to sustain and foster growth for each franchisee in the Liberty Fitness franchise system, while expanding the company’s franchise base.

“Liberty Fitness entered into the 30-minute women’s fitness industry in 2002 to create a unique franchise company focused on helping women enjoy a healthier and happier lives,” said Phil Mettra, Vice President of Marketing. “With the Nation’s focus on obesity and its effects, there is an increasing number of women gravitating toward 30-minute fitness centers. This is a great franchise for entrepreneurs who want to make a difference in women’s lives, running a successful business in a rapidly growing industry.”

About LibertyFitness

Liberty Fitness, founded in 2002, offers women a 30-minute circuit training workout system, using adjustable hydraulic strength training and aerobic cardiovascular equipment while maintaining a target heart rate. Liberty Fitness currently has 55 locations open 14 states within the United States , with an additional 12 franchises sold and in the process of opening.

About Process Peak Capital

Process Peak Capital is a private investment company that caters to the needs of the franchise industry by acquiring and operating small and medium-sized franchise operations nationwide. Partnering the experience of franchising, general management, and raising private capital, Process Peak Capital becomes an active participant in the ongoing management of the business, thereby assisting the acquired companies in realizing their full potential.

About Concentric Equity Partners

Concentric Equity Partners supports entrepreneurs in building leading service and related businesses. Supported by direct investments from ServiceMaster, " America 's Service Brands for Home and Business," and over 35 individual operating executives from service related industries, Concentric helps portfolio companies accelerate their growth through capital investment, industry knowledge, operating expertise, and access to expanded channels for distribution.

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