Life Time Fitness Acquires Atlanta-Based Racquet Club of the South
Transaction Complements Life Time’s Existing Tennis Programming; Life Time Tennis Largest Provider of Indoor Tennis Courts Nationwide
CHANHASSEN, Minn.--(BUSINESS WIRE)-- Life Time Fitness, Inc. (NYSE:LTM), The Healthy Way of Life Company, announced that it has acquired Atlanta, Georgia-based Racquet Club of the South (RCS). The Company’s acquisition of RCS expands its tennis operations to 158 courts and 211 Certified Tennis Professionals nationwide. Tennis programming now is offered at 16 Life Time locations in seven states. Additionally, the Company becomes the largest national operator of indoor tennis courts with 104.
An exterior rendering of Life Time Tennis Atlanta, formerly Racquet Club of the South. (Photo: Life Time Fitness)
To be rebranded ‘Life Time Tennis Atlanta,’ RCS currently features eight indoor and 28 outdoor tennis courts, the RCS Tennis Academy, a United States Tennis Association regional training center, a 25-meter outdoor pool, classroom and locker room facilities. As the result of an extensive renovation planned in 2012, additional features and amenities will include a remodeled exterior, lobby and locker rooms, fitness center with state-of-the-art equipment and massage facilities, club house with restaurant, pro shop and a stadium court that hosts 4,000+ spectators. Life Time Tennis Atlanta also will serve as the Company’s southeast hub for junior tennis champion training, coaching and development, tournaments and recreational play and instruction.
“With its tradition of developing internationally ranked juniors as well as hosting national and international professional tournaments, exhibitions and amateur events, RCS is the perfect complement to our existing, national tennis programming portfolio,” said Jeff Zwiefel, Life Time Executive Vice President and Chief of Operations. “In addition to upholding RCS’ rich tennis heritage, we look forward to completing our planned renovation and serving both existing and new members at what will be a world-class tennis destination.”
Life Time Tennis Atlanta continues to offer a full complement of programs for all ages and skill levels, supported by an unmatched team of tennis professionals. This includes an after-school Junior Program for ages 4-18 and a full-time Tennis Academy program led by renowned senior United States Tennis Association Regional Training Center coach, Grant Stafford. Adult leagues, lessons, drills and social events also will be offered.
Life Time expects to provide members with uninterrupted tennis court access during the 2012 renovation project. Terms of the transaction were not disclosed.
About Life Time Fitness, Inc.
As The Healthy Way of Life
Company, Life Time Fitness (NYSE: LTM) helps organizations, communities
and individuals achieve their total health objectives, athletic
aspirations and fitness goals by engaging in their areas of interest —
or discovering new passions — both inside and outside of Life Time’s
distinctive and large sports, professional fitness, family recreation
and spa destinations, most of which operate 24 hours a day, seven days a
week. The Company’s Healthy Way of Life approach enables customers to
achieve this by providing the best programs, people and places of
uncompromising quality and value. As of February 7, 2012, the Company
operated 93 centers under the LIFE TIME FITNESS® and LIFE
TIME ATHLETICSM brands, along with eight former Lifestyle
Family Fitness centers, in 21 states and 26 major markets. Additional
information about Life Time centers, programs and services is available
at lifetimefitness.com.
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Life Time Fitness, Inc.
Investor Contact:
John Heller
952-229-7427
ir@lifetimefitness.com
or
Media
Contact:
Jason Thunstrom
952-229-7435
pr@lifetimefitness.com
Source: Life Time Fitness, Inc.
Released February 7, 2012