Purpose Brands Appoints Tom Leverton as CEO Following Orangetheory and Self Esteem Brands Merger
Portfolio - People | Nov 21, 2024 | EIN
Purpose Brands, a newly formed company resulting from a merger between Orangetheory Fitness and Self Esteem Brands, has appointed Tom Leverton as its CEO. Leverton comes with a rich background, having previously served as an operating partner at Pritzker Private Capital, CEO of CEC Entertainment, Topgolf, and Omniflight, and as chief development officer at FedEx Office. Under Leverton's leadership, Purpose Brands aims for rapid expansion, leveraging its considerable scale with six million members across 7,000 sites in 50 countries. The company encompasses several well-known brands including Anytime Fitness and The Bar Method. Leverton is focusing on strategic growth, innovation, and enhancing the overall member experience, without immediate plans for further mergers or acquisitions. His strategy includes integrating the two merged companies, capitalizing on their overlapping cultures, and investing in technology to fuel personalized health and wellness experiences. The global health and wellness market, currently valued at $6.3 trillion, is projected to reach $9 trillion by 2028, highlighting the significant growth potential for Purpose Brands.
Sectors
- Health and Wellness
- Fitness and Lifestyle
- Private Equity
Geography
- United States – Purpose Brands is a company based in the United States, with operations and franchises distributed domestically and internationally.
- Global – With operations in 50 countries and plans for continued expansion, Purpose Brands has a global presence in the health and fitness sector.
Industry
- Health and Wellness – The article discusses the merger of companies within the health and wellness industry, focusing on fitness and lifestyle brands such as Orangetheory Fitness and Self Esteem Brands.
- Fitness and Lifestyle – The companies involved are primarily fitness brands, emphasizing health, wellness, and lifestyle improvements for their members.
- Private Equity – The appointment of Tom Leverton from Pritzker Private Capital highlights the role of private equity in driving leadership and expansion strategies within merged entities.
Financials
- 3.7 billion – The value in USD of the newly merged company, Purpose Brands.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Purpose Brands | Target Company | Company | A new company formed from the merger of Orangetheory Fitness and Self Esteem Brands, focusing on health and fitness. |
| Orangetheory Fitness | Merging Company | Company | One of the companies involved in the merger to form Purpose Brands, a prominent player in the fitness industry. |
| Self Esteem Brands | Merging Company | Company | The other company involved in the merger to form Purpose Brands, known for its fitness and lifestyle services. |
| Tom Leverton | CEO | Person | Appointed CEO of Purpose Brands, bringing extensive experience from previous high-level positions in various sectors. |
| Pritzker Private Capital | Previous Employer of CEO | Company | Leverton's prior organization, indicating his linkage to the private equity sector. |