01.16.2019 | Firm News
Burr Represents Brentwood Associates in Acquiring Leading Orangetheory® Fitness Franchisee
Los Angeles, CA, January 10, 2019 – Burr & Forman LLP recently represented Brentwood Associates, a leading middle-market private equity investment firm, in acquiring a majority interest in Afterburn Holdings, LLC, a leading Orangetheory® Fitness franchisee that operates 12 studios and oversees an additional eight studios in Houston, Texas.
Current operators, Jim Potesta and Marty Reichenthal, will retain a substantial ownership stake in the business and will both serve on the board of directors of the company along with members from Brentwood Associates. Potesta will continue to lead the company as CEO.
Rahul Aggarwal, partner at Brentwood, commented, “Orangetheory® Fitness has proven to be a stand-out fitness concept with incredible growth prospects. Afterburn is an extraordinary platform that is well-positioned for future growth in both existing and new markets.”
Orangetheory® Fitness was ranked #60 in Inc. magazine’s Fastest Growing Private Companies list. Orangetheory® franchisees have opened over 1,100 studios in 49 U.S. states and 22 countries.
For more than a century, Burr & Forman LLP’s experienced legal team has served clients at the intersection of business and government with local, national, and international interests in numerous industry and practice areas, ranging from commercial litigation and class actions to corporate transactions, including bankruptcy and restructurings. A Southeast regional firm with 360 attorneys and 19 offices in Alabama, Delaware, Florida, Georgia, Mississippi, North Carolina, South Carolina and Tennessee, Burr & Forman attorneys draw from a diverse range of resources to help clients achieve their goals and address their complex legal needs. The firm operates as Burr Forman McNair in North Carolina and South Carolina. For more information, visit the firm’s website at www.burr.com.