Clubessential, whose brands provide software for some of the biggest names in fitness, is reportedly close to being sold
Battery Ventures and Silver Lake are reportedly exploring a sale of Ohio-based club management software company Clubessential Holdings, hoping for a potential $3 billion valuation.
The news was originally reported by Reuters, citing unnamed sources who said the sale process was already underway and was supported by investment bankers, but a deal was not yet certain.
Founded in 1998, Clubessential provides SaaS for health and fitness clubs, spas, private clubs, public golf courses, military organizations, municipalities and camping organizations. The company is expected to generate revenue of around $255 million and earnings before interest, taxes, depreciation and amortization of $135 million over the next 12 months, according to Reuters.
Last month, Clubessential acquired cloud-based SaaS recreation management software company RecDesk and ASB taskTracker, an intuitive golf course maintenance software company.
“In the growing experience economy, providers must increasingly modernize their technology to capture consumer spending and attention,” said Randy Eckels, CEO of Clubessential Holdings, of the deal to acquire RecDesk. “We strive to provide customers in the leisure management industry with solutions that attract, engage and delight community guests and are excited to add RecDesk to our best-in-class portfolio.”
Clubessential also owns ClubReady, a top software platform for boutique fitness brands such as Xponential Fitness, Stretch Zone and Title Boxing Club.
Clubessential declined to comment on the possible sale.
