Hyde Park Capital Announces Trivest Partners Acquisition of Controlling Interest in Lady of America Franchise Corporation
Tampa, Florida - February 7, 2005 - Hyde Park Capital Advisors, LLC is pleased to announce that Trivest Partners, L.P. has acquired a controlling interest in Lady of America Franchise Corporation. Hyde Park Capital Advisors, LLC, the investment banking subsidiary of Hyde Park Capital Partners, LLC, initiated the transaction and served as Lady of America's exclusive financial advisor and investment banker.
"We welcome and appreciate our new partnership with Trivest. We strongly believe that our 800+ franchisees will immediately see the benefit of guidance, leadership and support that few franchisors in the fitness industry have ever been able to provide to franchisees," stated Roger Wittenberns, founder of Lady of America. "Our first order of business will be adding a strong field support system focusing directly on increasing franchisee profits," added Wittenberns.
Trivest Partner Derek A. McDowell said, "We are very excited about our partnership with Lady of America and Roger Wittenberns, the founder. The company has demonstrated tremendous growth and has developed a great workout solution for the women's fitness market."
"Trivest's acquisition of a controlling interest in Lady of America will serve to continue to strengthen Lady of America's market share in the fitness industry," said John H. Hill, Jr., Senior Managing Director of Hyde Park Capital. "We greatly enjoyed working with Trivest Partners and our client, Lady of America."
About Lady of America Franchise Corporation
Lady of America Franchise Corp. is a leading international franchisor of primarily women focused fitness centers with over 800 franchise locations. The fitness centers are located predominantly in the United States, but the concept has also proven successful internationally with centers open in England, Australia, Canada, England, South Korea, Israel, South Africa, and Mexico. Founded in 1984, the company has been an innovator and leader in the fitness club industry and was the first to officially offer a franchise for a fitness center. The company currently offers four franchise opportunities, including Lady of America, Ladies Workout Express, Health Clubs of America, and its new Workout Express for Men and Women (the co-ed version of Ladies Workout Express. For additional information about Lady of America Corporation visit http://www.ladyofamerica.com.
About Trivest Partners, L.P.
Trivest Partners, L.P. is a Miami-based leading provider of equity for middle market corporate acquisitions, recapitalizations, and growth capital financings. Since its founding in 1981, Trivest has sponsored 120 acquisitions and recapitalizations, totaling in excess of $2.0 billion in transactional value. Trivest is currently investing in middle market companies through Trivest Fund III, L.P. with $316 million in capital commitments. Additional information is available on the Internet at http://www.trivest.com.
About Hyde Park Capital
Hyde Park Capital is an institutionally focused boutique investment bank primarily serving the corporate finance needs of private and public companies in Florida and the Southeast. Hyde Park Capital's principals have significant transaction experience raising private capital for companies, including equity, mezzanine and debt, and successfully executing merger & acquisition engagements, including purchase and sale of company assignments, recapitalizations, financial advisory and fairness opinions. Hyde Park Capital has significant experience in the financial services, technology, healthcare, consumer, and manufacturing sectors, but is broadly focused on representing outstanding companies in any industry. Hyde Park Capital has offices in Tampa, Florida and Charlotte, North Carolina and is a member of the NASD and SIPC. For additional information about Hyde Park Capital visit http://www.hydeparkcapital.com or call 813-383-0202.