Established in 2015, My PT Hub is a leading personal training and fitness software-as-a-service (SaaS) solution for trainers and fitness clubs, enabling over 83,000 fitness professionals (with 1.3 million clients) to grow and scale their businesses via website and mobile applications. To transform and streamline the relationship between personal trainers and clients, My PT Hub has been amongst the first to pioneer the shift to online and remote fitness experiences, replacing outdated mediums for delivering workouts, nutrition plans and fitness content.
The platform has grown exponentially, and with COVID-19 disruptions to the fitness industry further accelerating the shift to remote training, the company became the subject of numerous approaches from potential international buyers. Given the strength of the approaches, the shareholders sought to explore a sale of the business to support growth and capture the market.
FRP’s Corporate Finance team was appointed to advise the company on managing the sales process over a six-month period to completion. My PT Hub operates in a high-growth and specialised technology market, so a deep understanding of SaaS KPIs, value drivers and transaction pricing was needed to deliver a focused and detailed Information Memorandum and supporting financial model. The team invited a shortlist of the strongest potential buyers to take part in a competitive process. Offers were secured following a period of initial due diligence and negotiations with the engaged parties.
EverCommerce, a Colorado-based service commerce platform, acquired My PT Hub. FRP played an instrumental role in structuring a cross-border deal that met the expectations and desires of the shareholders, some of whom were seeking a full exit. The deal will provide the company with the tools and support required to continue the current growth trajectory, particularly in international markets and with the growing demand for remote fitness due to restrictions brought about by COVID-19.
“I’ve known the FRP team since I started My PT Hub in 2015, so to conclude this phase of the company’s journey with a sale to one of the industry’s leading service commerce platforms marks the culmination of a professional and longstanding relationship. The team secured a partner for us who shares and understands our fitness vision, in a deal made possible by the team’s valuable advice and support.” Phil Carr, technology entrepreneur and CEO of My PT Hub
The number of clients supported by personal trainers using My PT Hub