#United States #Atlanta #Eagle Merchant #Club Pilates #Aligned Fitness

Eagle Merchant Partners Propels Aligned Fitness Forward

Eagle Merchant Partners, a prominent player in the private equity sector, has made headlines by announcing its inaugural investment from the recently closed Fund II. This significant investment is directed toward Aligned Fitness, a well-established franchisee of Club Pilates located in the Southeastern United States. As fitness enthusiasts and entrepreneurs increasingly seek avenues to enhance their businesses, this partnership signals a bold move into the thriving health and wellness landscape.

Strategic Partnership for Growth

Aligned Fitness, founded in 2016, is helmed by CEO Jon Smith and co-founders Joe and Kerry Ruggieri. The firm aims to leverage its partnership with Eagle Merchant Partners to accelerate growth by opening new Pilates studios and pursuing strategic acquisitions across Southeastern and Mid-Atlantic regions.

This strategic collaboration allows Aligned Fitness to capitalize on Eagle's extensive experience in the multi-franchise and health sectors, thereby positioning it for dynamic future expansion. With these new ventures, the company expects to enhance its footprint and offerings significantly.

Expansion through Acquisitions

In conjunction with this investment, Eagle has already completed two add-on acquisitions: Crescent Concepts, LLC, which manages Club Pilates locations in North and South Carolina, and Next Twenty, LLC, handling studios in Georgia. The combined operations of Aligned Fitness now encompass a total of 34 studios operating in North Carolina, Georgia, and South Carolina, setting the stage for substantial growth and market penetration in the boutique fitness industry.

Jake Rubenstein of Eagle Merchant Partners expressed enthusiasm about the investment, saying, "The Club Pilates system is a compelling opportunity with its robust brand recognition, passionate member base, and compelling unit economics. We are excited to support the outstanding leadership team of Aligned Fitness as they pursue their growth vision."

A Thriving Market

The boutique fitness industry is currently valued at approximately $24 billion and is demonstrating impressive growth rates exceeding 12% annually. This growth trajectory can be attributed to consumers' increasing preference for personalized fitness options, especially in the post-COVID world. Aligned Fitness aims to meet this demand with its focus on providing quality and engaging fitness experiences, further solidifying its strategy in a competitive market.

CEO Jon Smith emphasized the importance of Eagle's involvement, noting, "They have a proven track record in the wellness and franchising sectors, which is crucial as we expand our multi-unit business approach.” The partnership promises to provide valuable operational and strategic support to enhance Aligned Fitness's growth trajectory.

Legal and Advisory Support

Eagle's strategic acquisitions were backed by strong advisory teams. Piper Sandler played a crucial role in advising Aligned Fitness, while Williams Mullen and King & Spalding provided legal counsel to the parties involved. Eagle Merchant Partners also tapped Miller Martin for legal guidance regarding the two add-on acquisitions.

Eagle Merchant Partners, having successfully closed its second fund with $415 million in capital commitments in May 2025, is well-positioned to target growth opportunities in the health and wellness space. With its sights set firmly on expanding Aligned Fitness, the firm exemplifies the promising landscape of private equity investment in health and fitness franchises. The commitment to enhancing growth and operational synergy heralds an exciting chapter for both Eagle and its newly acquired franchisee as they navigate the evolving fitness industry landscape.