Private-equity buyouts of Baseline Fitness (2018-2024)
Freeman Spogli bought Baseline Fitness, a growing Planet Fitness franchisee, then sold it to Mayfair Capital Partners in February 2024. Each owner backed expansion of the Fargo-based operator's club network.
Baseline grew from a regional operator into a 100-club franchisee across the upper Midwest.
Private equity ownership put Baseline on a growth mandate, funding entry into new markets like Minnesota.
The Saint Paul license is a direct result of this ownership cycle: Mayfair bought Baseline specifically to grow it past 150 locations.
