Thursday, October 23, 2014
FOR IMMEDIATE RELEASE
Attention: Sun Acquisitions facilitates sale of Rowfit LLC a Chicago Cross Fit Gym
Florida based buyer group invests in Chicago-based CrossFit™ gym. This transaction highlights the investment trend in total body training facilities.
Rex Rossi, Senior Broker at Sun Acquisitions, Completes Sale of Rowfit LLC a Chicago Cross Fit Gym
Sun Acquisitions, (https://sunacquisitions.com/), announces that Rex Rossi, Senior Broker, completed the sale of Rowfit LLC, a CrossFit gym, to a group of investors from Florida. The principal of the buyer firm, Byron Dyce, plans to take an active role in operating the business ensuring a smooth entry into the Chicago market.
Rowfit LLC has worked hard to capture the new industry edge of strength, conditioning, and CrossFit programs for all levels, ages and personal training goals. The business was established by Nell Shuttleworth in 2010. The business had grown each year and was sold so that the owner could relocate back to her native country.
The Gym, Health, and Fitness Clubs industry generates $26.5bn in annual revenue and has grown over six percent each year since 2010. Interestingly, boutique gyms with fewer assets and amenities like, Rowfit LLC, have performed better than much bigger all-inclusive gyms during the same period.
Mr Rossi said, “I think this deal underscores Sun Acquisitions marketing heft – as the buyer group from Florida was identified through our extensive marketing efforts. Sun Acquisitions was able to confidentially market the business to a broad range of buyers from Arizona to Minnesota as well as the greater Chicagoland area. Interested parties included Corporate Strategics, Investor Groups, and Individual owner operators across the country. We are pleased that Sun Acquisitions was able to accomplish the transaction and meet the seller’s initially stated objectives.”
“My greatest concern when selling my business was that the new owners would not share my philosophies and vision for Rowfit. I couldn’t be happier with the new owners and I believe they will preserve the foundation that the business was established on and continue its growth. I felt very well assisted during the sale of the business, particularly during the closing period when I had many questions. I never felt uncomfortable with any part of the transaction and was happy with the outcome. An overall pleasant experience with Rex Rossi and the entire firm.”, said Nell Shuttleworth
About Rex Rossi
Mr. Rossi’s breadth and depth of experience covers finance, sales, marketing, operations and client relationship management with Fortune 500 companies. He has worked closely with both private small and mid-market companies providing customer service support, sales guidance, and program development. Industry leaders have retained him as a consultant covering customer service category development which included both hard and soft retail environments.
Rex came to Sunbelt with over sixteen years of entrepreneurial business experience as an owner/operator of one of the first and largest retail logistical companies, Systemax Network Inc., which comprised a national network of over 1,500 branded and private labeled parcel shipping and business service center locations in 48 states headquartered in Racine, Wisconsin. His experience has included the fields of franchising, business opportunity development and private labeled business sales. In addition, Rex has over fifteen years of financial experience as a Member of the Chicago Board of Trade, CME Group, and the Chicago Board Options Exchange. His experience included specialization in Fixed Income, FX, Equities and International Grain markets.
Rex Rossi holds an MBA in Finance and Marketing from DePaul University’s Kellstadt Graduate of School of Business and a BA degree in Economics from the University of Notre Dame, South Bend, Indiana.
About Sun Acquisitions
Sun Acquisitions provides mergers and acquisition services to clients interested in the confidential sale, acquisitions or valuation of privately held mid-market companies. Sun Acquisitions has successfully managed and handled engagements in all kinds of industries and are recognized as a leading advisory firm in the Midwest.
Sun Acquisitions leverages the experience of its M&A advisors to bring the sophistication of large M&A transactions to the small and middle markets in an efficient, cost effective, and professional manner. Clients know that we have the expertise to manage the lifecycle of their transaction including clarifying objectives, creating leverage and maximizing ROI which are the cornerstones of any successful deal. https://sunacquisitions.com/current-engagements/