One of Monogram’s Largest Fund I Investments Exits Following Eight-Year Partnership
LOS ANGELES, March 31, 2026 /PRNewswire/ — Monogram Capital Partners (“Monogram”), a Los Angeles-based private equity firm partnering with leading consumer businesses and their 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 franchisees in the Planet Fitness system. The exit was realized through the sale of Grand Fitness to Flynn Group. Following HGGC’s acquisition of a majority stake in the Company from Monogram in 2021, Monogram retained a significant minority stake in the business and Co-Founder Jared Stein remained active on the board through the final sale of the firm’s position.
Grand Fitness was one of the largest investments in Monogram’s inaugural fund, marking a significant milestone for the firm 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 a watershed eight-year partnership during which we worked arm-in-arm 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 rewarding collaborations in our firm’s history. The opportunity to partner with my prior firm, a team I remain close with and have the utmost respect for, in the final chapter of this investment makes the outcome that much more gratifying.”
Founded in 2010 by David Bidwell and Scott Linsky, Grand Fitness began as PF Atlantic Holdings, a Planet Fitness franchisee operating 14 locations across 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 institutional infrastructure, expand the leadership team, develop enterprise sales capabilities and execute a disciplined growth strategy, including new unit development and acquisitions. The Company grew from a regional operator into 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, partnership-focused middle-market private equity firm, while retaining a minority position and rolling equity alongside the founders and management team to support the Company’s next phase of growth. The transaction reflected a longstanding 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 the largest and fastest-growing Planet Fitness franchisees, operating 98 clubs across the United States. Backed by HGGC since 2021, the Company is dedicated to offering welcoming, accessible, and member-focused fitness experiences in every community it serves.
About Monogram Capital Partners
Headquartered in Los Angeles, CA, Monogram Capital Partners currently manages approximately $1.8B in RAUM, focusing exclusively on investing in leading consumer businesses, supply chain partners, and service providers. With a collaborative and operationally driven investment approach, Monogram typically serves as the first institutional partner to 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 the firm on LinkedIn.
About Flynn Group LP
Founded in 1999, Flynn Group LP is the largest franchise operator in the world, and the third largest operator of restaurants, after only Starbucks and Chipotle, in the United States. 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 78,000 people. More information is available at www.flynn.com.
SOURCE Monogram Capital Partners
