Press Release
Baker Tilly advises Alder Partners on pivotal acquisition by The Flynn Group
The deal signifies the foray of the largest multi-unit franchisee in the U.S. into the fitness industry.
BOSTON (Dec. 20, 2023) – Leading advisory CPA firm Baker Tilly US, LLP (Baker Tilly) announces its instrumental role as the financial and tax advisor in the successful sale of its client Alder Partners, LLC, a leading multi-unit franchisee of Planet Fitness, to The Flynn Group, LP, the largest multi-unit franchisee in the U.S. Alder Partners is the Flynn Group’s first partnership within the fitness industry.
Baker Tilly served as Alder Partners' financial and tax advisor throughout the transaction. Will Andronico, Baker Tilly managing partner - New England, highlighted the significance of the combination, stating, "In The Flynn Group, Alder Partners found an amazing market leader and strategic partner whose envisioned future aligns with its own. The combined success and leadership of the two organizations will be a tremendous launching point for new levels of growth in the fitness industry."
Since joining the Planet Fitness system in 2007, Alder Partners has demonstrated significant growth, organically developing 31 clubs in Massachusetts and Georgia. Recognized for its core values, customer-centric approach, and resilience, Alder Partners swiftly recovered from the challenges of the COVID-19 pandemic, earning induction into the Planet Fitness Franchisee Hall of Fame. The company continues expansion within its current Area Development Agreement, with plans to open three additional Planet Fitness locations in the next four months.
Stan DeMartinis, Jr., managing partner of Alder Partners will continue in his leadership role after being named as president and founder of Flynn’s newly developed fitness division. “Throughout the intricate process of selling our family's business to The Flynn Group, Baker Tilly played an invaluable role as our financial and tax advisor. Their expertise and strategic guidance were crucial in navigating the complexities of the transaction, ensuring a seamless and favorable outcome for Alder Partners,” said DeMartinis.
The successful completion of this transaction underscores Baker Tilly’s commitment to guiding clients through strategic partnerships and facilitating growth objectives. Learn more about Baker Tilly’s transaction advisory services: bakertilly.com/specialties/transaction-advisory.
About Baker Tilly US, LLP (bakertilly.com)
Baker Tilly US, LLP (Baker Tilly) is a leading advisory CPA firm, providing clients with a genuine coast-to-coast and global advantage in major regions of the U.S. and in many of the world’s leading financial centers – New York, London, San Francisco, Los Angeles and Chicago. Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 145 territories, with 41,000 professionals and a combined worldwide revenue of $4.7 billion. Visit bakertilly.com or join the conversation on LinkedIn, Facebook and Instagram.