Gym Source USA

Client Profile

With a strong east coast retail presence and a broad commercial customer base, Gym Source is recognized as one of the industry’s leading distributors of premium fitness equipment. The Company’s diverse product offering includes many of the top fitness brands with whom Gym Source maintains advantageous exclusivity rights.

Situation

While Gym Source has a strong history of growth and profitability, the Company was in the process of an internal restructuring plan when the COVID-19 pandemic caused shutdowns in March 2020. As a result, Gym Source was unable to fully execute its plan to realize the benefits of the initiatives and ultimately decided to pursue investors that could provide the Company with the capital necessary to pursue its strategic objectives.

Solution

SSG was retained by Gym Source to conduct a comprehensive marketing process and solicit offers for the Company. The process attracted interest from multiple parties that engaged in a thorough review of the business. Johnson’s offer ultimately provided the best value for the retail stores while allowing Gym Source to continue owning and operating its commercial business. SSG’s industry knowledge and experience running efficient sale processes enabled the Company to continue operations, preserve jobs and maximize value for all stakeholders.