LA Fitness

LA Fitness

Infobox_Company
company_name = LA Fitness
foundation = 1984
company_
company_type = Private
location =flagicon|United States Irvine, California
industry = Exercise, Health Clubs
homepage = [http://www.lafitness.com/ www.lafitness.com]

LA Fitness is a privately-owned American health club chain

History

LA Fitness [http://www.hoovers.com/L.A.-Fitness,-Inc/--HD__rhtjxhjhk,src__dbi--/free-co-dnb_factsheet.xhtml LA Fitness Company Overview] ] was founded in 1984 by its current executive management team to purchase and operate under performing fitness clubs. Through the mid-1990’s, the company grew its club portfolio both by acquiring and turning around existing clubs and by developing, opening and operating newly constructed properties. In 1995, LA Fitness designed and built a new 45,000-square-foot multipurpose health and fitness club that has become the company’s signature look. LA Fitness then expanded its in-house development efforts for additional prototype clubs. In 1998, with 12 proven prototype clubs in Southern California and Arizona, the company rapidly increased the rate of new club development and rolled out its concept into several new geographic regions [cite web|title=Company History|url=http://www.sepfunds.com/cs_estateplan.shtml]

On May 21, 2007, Madison Dearborn Partners announced that it acquired a 20% stake in L.A. Fitness International, from Seidler Equity Partners, CIVC Partners, and the management of the company for consideration of $600 million. [ [http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=1030452 L.A. Fitness to Build in Centerville] ]

Criticism

LA Fitness is known to conduct questionable billing practices. Firstly, they require all cancellations to be done via postal mail. Such cancellations are often misplaced and credit cards will continue to be billed. Even in cases when cancellation has been confirmed via return mail billing has continued.

References

External links

* [http://www.lafitness.com/ LA Fitness Official website]


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