LockeBridge, LLC advised Y&B Corporation, an operator of fitness centers, on the sale of their Gold’s Gym holding in Salem MA.  The sale was executed in approximately four months from the date of engagement. According to Mr. Glenn Anthony, Y&B CEO, “The price was about 25% higher then we had tried to get on our own and had much better payment terms.

Scott Waxler, LockeBridge Managing Partners, commented, “This particular health club does exceptionally high volume and is worth significantly more than the typical club. Comparative analysis among businesses which typically have lower revenue and profits can easly result in misleading valuation conclusions.  In fact, there are many individuals selling and purchasing franchises such as Golds Gym who have never consummated a transaction, nor do they have appropriate advisors. The foregoing can create challenges in justifying the valuation.  LockeBridge was able to package the offering in a highly credible manner, which resulted in multiple offers at a signficant premium compared to the price and terms of other similar transactions.”