Latest news with #LeonardGreen&Partners
Yahoo
27-04-2025
- Business
- Yahoo
Life Time Group Holdings, Inc. (NYSE:LTH) is a favorite amongst institutional investors who own 44%
Institutions' substantial holdings in Life Time Group Holdings implies that they have significant influence over the company's share price A total of 7 investors have a majority stake in the company with 52% ownership Insiders have sold recently Our free stock report includes 1 warning sign investors should be aware of before investing in Life Time Group Holdings. Read for free now. To get a sense of who is truly in control of Life Time Group Holdings, Inc. (NYSE:LTH), it is important to understand the ownership structure of the business. The group holding the most number of shares in the company, around 44% to be precise, is institutions. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. As a result, a sizeable amount of institutional money invested in a firm is generally viewed as a positive attribute. Let's delve deeper into each type of owner of Life Time Group Holdings, beginning with the chart below. See our latest analysis for Life Time Group Holdings Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. We can see that Life Time Group Holdings does have institutional investors; and they hold a good portion of the company's stock. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Life Time Group Holdings, (below). Of course, keep in mind that there are other factors to consider, too. Hedge funds don't have many shares in Life Time Group Holdings. Our data shows that Leonard Green & Partners, L.P. is the largest shareholder with 19% of shares outstanding. In comparison, the second and third largest shareholders hold about 14% and 7.0% of the stock. Bahram Akradi, who is the third-largest shareholder, also happens to hold the title of Chairman of the Board. On further inspection, we found that more than half the company's shares are owned by the top 7 shareholders, suggesting that the interests of the larger shareholders are balanced out to an extent by the smaller ones. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. Quite a few analysts cover the stock, so you could look into forecast growth quite easily. The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. Our most recent data indicates that insiders own some shares in Life Time Group Holdings, Inc.. This is a big company, so it is good to see this level of alignment. Insiders own US$505m worth of shares (at current prices). Most would say this shows alignment of interests between shareholders and the board. Still, it might be worth checking if those insiders have been selling. With a 15% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Life Time Group Holdings. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. With a stake of 33%, private equity firms could influence the Life Time Group Holdings board. Some investors might be encouraged by this, since private equity are sometimes able to encourage strategies that help the market see the value in the company. Alternatively, those holders might be exiting the investment after taking it public. It's always worth thinking about the different groups who own shares in a company. But to understand Life Time Group Holdings better, we need to consider many other factors. Consider risks, for instance. Every company has them, and we've spotted 1 warning sign for Life Time Group Holdings you should know about. If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. 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Associated Press
15-04-2025
- Business
- Associated Press
Crunch Fitness Announces Strategic Investment from Leonard Green & Partners
Leading Fitness Brand Welcomes New Investment Partner to Accelerate Growth NEW YORK, April 15, 2025 /PRNewswire/ -- Crunch Holdings, LLC ('Crunch Fitness'), a globally recognized powerhouse in the fitness industry, today announced a strategic investment from Leonard Green & Partners ('LGP'), a leading private equity investment firm. Under the terms of the agreement, LGP will acquire a majority interest in Crunch Fitness from TPG Growth, the middle market and growth equity platform of global alternative asset management firm TPG, and Crunch's minority shareholders. Founded in 1989 in New York City's Greenwich Village, Crunch has grown from a single gym with a unique 'No Judgments' philosophy into one of the fastest-growing and most respected fitness brands in the world. Ranking #1 in the fitness category for the second year in a row and #32 overall in the annual Entrepreneur Franchise 500® - the world's first and most comprehensive franchise ranking - Crunch has built a loyal and diverse membership base worldwide with its inclusive culture, innovative group fitness programming, and high-value, low-price gym model. 'This is an exciting new chapter for Crunch,' said Jim Rowley, Chief Executive Officer of Crunch Fitness. 'Leonard Green & Partners has a phenomenal track record of success and investing in consumer brands, and we're confident their strategic insight and operational expertise will only continue to accelerate our growth while staying true to our core values.' Since TPG invested in Crunch in 2019, the brand has experienced remarkable growth. During that period, Crunch added over 2.1 million members, a staggering 176% increase. The brand also significantly expanded its gym footprint, adding 275 locations, more than doubling its unit count. Today, Crunch boasts over three million members and operates more than 500 gyms worldwide. These achievements, in addition to Crunch's new gym innovations, such as the recently launched Crunch 3.0 design and its commitment to making serious fitness fun for people of all fitness levels, continue to drive strong demand across domestic and international markets. 'We're incredibly grateful to TPG for being an exceptional partner over the past five-plus years,' Rowley continued. 'Their support and commitment—especially during the challenges of the pandemic—helped drive our transformation and rapid expansion. We also want to thank our amazing franchisees whose passion and entrepreneurial spirit have been the driving force behind our success and our incredible team members who continuously strive to provide legendary experiences across every Crunch gym.' 'What Crunch has accomplished in the past five years is truly unprecedented,' said John Danhakl, Managing Partner at Leonard Green & Partners. 'We are excited to support the brand's continued evolution alongside a strong leadership team and franchise network. Crunch's powerful business fundamentals and distinctive member experience make it an ideal fit for our portfolio.' 'Jim and his team have built a superb company, serving both their members and their franchisees well,' said Jonathan Coslet, Partner at TPG. 'The Crunch team's creativity, tenacity, and customer-centric culture have been hallmarks of their very successful build to date and will continue to drive Crunch's leadership alongside their new partners at LGP.' Jefferies LLC served as the lead financial advisor to Crunch, with North Point M&A also acting as a financial advisor. Kirkland & Ellis provided legal counsel. 'I'd also like to thank our advisors for their invaluable insight and support throughout this process,' added Rowley. For more information, visit About Crunch Crunch is a gym that believes in making serious exercise fun by fusing fitness and entertainment and pioneering a philosophy of 'No Judgments.' Crunch serves a fitness community for all kinds of people with all types of goals, exercising all different ways, working it out at the same place together. Headquartered in New York City, Crunch serves over three million members with over 500 gyms worldwide in 41 states, the District of Columbia, Australia, Canada, Costa Rica, Portugal, Puerto Rico, and Spain. Crunch is rapidly expanding across the U.S. and around the globe. About Leonard Green & Partners: LGP is a leading private equity investment firm founded in 1989 and based in Los Angeles, California with over $70 billion of assets under management. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has completed over 150 investments in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, healthcare and business services, as well as distribution and industrials. For more information, please visit About TPG TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $246 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. View original content to download multimedia: SOURCE Crunch Fitness
USA Today
14-02-2025
- Business
- USA Today
Joann files for bankruptcy, again: How did the retailer get to this point?
Joann files for bankruptcy, again: How did the retailer get to this point? Show Caption Hide Caption Joann plans to close 500 locations, stop accepting gift cards and returns Crafts store Joann has asked a judge to allow it to begin liquidation sales and give customers a short window to use gift cards and return items. (Scripps News) Scripps News Joann, the retailer known for selling fabrics and crafts for the last 82 years, has filed for bankruptcy and says it is preparing to close more than half of its U.S. locations. The retailer told USA TODAY in a statement Wednesday that it would be closing "approximately 500" of its roughly 850 locations across the U.S. The news comes after the company filed for bankruptcy for the second time in less than a year, after initially filing and then going private in March 2024. The Ohio-based retailer filed for a second bankruptcy in January and said it did so to "facilitate a sale process to maximize the value of its business." "Since becoming a private company in April, the Board and management team have continued to execute on top-and bottom-line initiatives to manage costs and drive value,' Michael Prendergast, interim CEO of Joann, said. Here's a timeline of the Joann bankruptcy. Who owns Joann? Joann was founded in 1943 and sells a variety of crafting supplies including fabric by the yard, sewing machines, Cricut machines, yarn, home decor and more. The company went private in 2011 when it was acquired by the equity firm Leonard Green & Partners for about $1.6 billion. In 2021, Joann, still majority-owned by Leonard Green & Partners, went public at an initial $12 a share. Joann became a private company again in April following its initial bankruptcy filing, so its shares were no longer listed by the Nasdaq or any other national stock exchange. 2024: Joann files for bankruptcy The first time Joann filed for Chapter 11 bankruptcy protection was in March 2024. In a statement, the Ohio-based retailer said it had secured approximately $132 million in new financing and "related financial accommodations." At the time, it expected to reduce its funded debt by about $500 million, or half of its $1 billion total debt. At the time of the filing, the company said no disruptions would be seen to its customers, vendors, landlords and other trade creditors. Scott Sekella, Joann's chief financial officer and co-lead of the interim office of the CEO said at the time that 95% of Joann's stores were cash flow positive. Sekella has since resigned from the company before being announced as the new CFO of Victoria's Secret. Joann store closures earlier this year In early 2025, rumblings of ever-increasing trouble began appearing at Joann as store closures were slated to begin, according to industry and local reports. In a statement to Retail Dive in January, Joann's director of corporate communications Amanda Hayes said the locations were being closed "as part of routine store location evaluation and optimization" and were not a major shuttering event. "We also opened new and remodeled locations in recent months, including new stores in Great Falls, MT and Maplewood, MN," she said. Local news outlets in Pennsylvania, Iowa, Massachusetts and Delaware reported dates for local store closures ranging from Jan. 12-19. A worker at a Owings Mills, Maryland location said it would close on Jan. 19. Then, bankruptcy again for Joann Weeks after the trickle of store closures, Joann announced it would be filing again for bankruptcy. 'The last several years have presented significant and lasting challenges in the retail environment, which, coupled with our current financial position and constrained inventory levels, forced us to take this step,' Prendergast said in a statement on Wednesday. However, despite the gloomy news for customers and workers, Joann said its stores and website are "open in the ordinary course and continue to serve customers." Joann closing 500 stores On Wednesday, Joann said it would be closing "approximately 500" of its about 850 locations in the U.S. In a statement to USA TODAY, the company said it is looking to "right-size its store footprint." "This was a very difficult decision to make, given the major impact we know it will have on our Team Members, our customers and all of the communities we serve," Joann's statement said. "A careful analysis of store performance and future strategic fit for the Company determined which stores should remain operating as usual at this time." Contributing: Mary Walrath-Holdridge, Emily DeLetter, Jonathan Limehouse Fernando Cervantes Jr. is a trending news reporter for USA TODAY. Reach him at and follow him on X @fern_cerv_.
