Good Morning
Good Morning

Topspin buys fitness company

Topspin Partners LBO, a fund managed by Long Island's largest private equity firm, has acquired a Florida-based fitness company for an undisclosed price. The $132-million fund bought HCOA Fitness from TG Capital Corp. of Aventura, Fla. HCOA is Puerto Rico's largest operator of fitness clubs and personal training services. It is based in Miami. "After evaluating many health and wellness opportunities in recent years, we are delighted to have found this outstanding company," Topspin managing director Leigh Randall said. Topspin, based in Roslyn Heights, was founded in 2000 by Leo Guthart, a former chief executive of Ademco Security Group, and James Simons, founder of Renaissance Technologies hedge fund. The firm has more than $300 million in assets under management.

More news