One of Monogram’s Largest Fund I Investments Exits After Eight-Year Partnership
LOS ANGELES, March 31, 2026 /PRNewswire/ — Monogram Capital Partners (“Monogram”), a Los Angeles-based private equity firm working with leading consumer businesses and service and supply chain partners, today announced the sale of its remaining stake in Grand Fitness Partners (“Grand Fitness” or the “Company”), one of the largest franchises in the Planet Fitness system. The exit was realized through the sale of Grand Fitness to the Flynn Group. Following HGGC’s acquisition of the Company’s majority stake in Monogram in 2021, Monogram retains a significant minority stake in the business and Co-Founder Jared Stein remains active on the board through the final sale of the firm’s position.
Grand Fitness is one of the largest investments in Monogram’s inaugural fund, marking an important milestone for the company and capping an eight-year partnership defined by strong growth, operational investment and strategic expansion.
“The sale of our remaining stake in Grand Fitness commemorates an eight-year partnership during which we worked hand-in-hand with the founders to elevate every facet of their operation,” said Jared Stein, Co-Founder and Partner at Monogram Capital Partners. “Supporting the Company’s growth from 14 clubs to one of the largest operators in the Planet Fitness system has been one of the most profitable collaborations in our company’s history.
Founded in 2010 by David Bidwell and Scott Linsky, Grand Fitness began as PF Atlantic Holdings, a Planet Fitness franchisee that operates 14 locations in the eastern United States. Monogram partnered with the Company in 2017 as its first institutional investor and worked closely with the founding team to build the institutional infrastructure, expand the leadership team, develop the company’s sales capabilities and execute disciplined growth strategies, including the development of new units and acquisitions. The company grew from a regional operator to one of the largest franchisees in the Planet Fitness system, expanding from 14 locations at the time of Monogram’s investment to 98 clubs across five states.
In 2021, Monogram sold a majority stake in Grand Fitness to HGGC, a values-driven middle market private equity firm, while retaining a minority position and rolling equity with the founders and management team to support the Company’s next phase of growth. The transaction reflects a long-standing relationship between the firms, as Monogram Co-Founder Jared Stein worked at HGGC earlier in his career, underpinned by a shared approach to founder-led value creation.
About Grand Fitness Partners
Grand Fitness Partners is one of Planet Fitness’ largest and fastest growing franchisees, operating 98 clubs across the United States. Backed by HGGC since 2021, the Company is dedicated to offering a welcoming, accessible, and member-focused wellness experience in every community it serves.
About Monogram Capital Partners
Headquartered in Los Angeles, CA, Monogram Capital Partners currently manages approximately $1.8B in RAUM, focused exclusively on investing in leading consumer businesses, supply chain partners, and service providers. With a collaborative and operationally driven investment approach, Monogram is often the first institutional partner for entrepreneurs and family owners, helping them build sustainable, category-leading businesses. For more information on Monogram Capital Partners, please visit: http://www.monogramcapital.com or follow firmly in LinkedIn.
About Flynn Group LP
Founded in 1999, Flynn Group LP is the world’s largest franchise operator, and the third largest restaurant operator, behind only Starbucks and Chipotle, in the United States. The Flynn Group owns and operates more than 3,000 restaurants and fitness clubs across the Applebee’s®, Arby’s®, Taco Bell®, Panera®, Pizza Hut®, Wendy’s®, Planet Fitness® and 7 Brew® brands, spanning 44 states, Australia and New Zealand, generating $5 billion in sales and employing more than 78. More information is available at www.flynn.com.
SOURCE Monogram Capital Partners
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