HCOA, Inc., an affiliate of TG Capital Corp., a Miami-based private equity firm, has purchased 20 Lady of America (LOA) Fitness Clubs in Puerto Rico and Miami for an undisclosed sum.
Commenting on the investment, Johnathan Robertson, Managing Director of TG Capital Corp., was quoted as saying: “We are thrilled to be partnering with Lady of America Franchise Corporation and its management team, and look forward to supporting the Company’s growth initiatives.
“We are committed to fully integrating the clubs into the LOA culture,” said Robertson”.
According to Mr. Robertson, future plans call for expansion in the Puerto Rico and Miami markets.
Lady of America was established in 1984 with the goal of providing a safe and rewarding environment to women. Each club helps women develop a workout routine to help achieve their fitness and lifestyle goals.
Today, they are the world’s largest full-service chain of women’s fitness centers with approximately 300 franchises in operation across 45 states and nine countries under the brands Lady of America, LOA Fitness for Women, Ladies Workout Express, Workout Express and Health Clubs of America fitness centers.