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Vision Capital and New Evolution Ventures Announce Strategic Partnership June 2011

Vision Capital and New Evolution Ventures (“NeV”) announce a strategic partnership to create a leading, multi-brand health, fitness and wellness business.   The partnership will further develop and expand NeV’s already strong portfolio of brands and pursue new investments in the sector. 

NeV,  the preeminent developer and operator of health and fitness brands, and Vision Capital, the international investor, are pleased to announce the formation of a global investment partnership focused on the health, fitness and wellness industries, encompassing multiple brands that incorporate health clubs as well as nutrition, media, content and technology. 

The strategy of the NeV – Vision partnership is to continue to invest in and develop the existing NeV brand portfolio as well as to make additional targeted investments in the health, wellness and fitness sector. NeV was founded in 2008 by Mark Mastrov and former 24 Hour Fitness executives Jim Rowley and Mike Feeney to focus on building, operating and investing in innovative brands and businesses within the health, wellness and fitness industries. Prior to NeV, Mark founded 24 Hour Fitness Worldwide in 1983, which he grew to the world’s largest fitness company with more than 420 clubs in the United States and Asia and revenues in excess of $1.5 billion at the time of its sale in 2005. 

Mark Mastrov, Chairman of NeV, stated,
“We are excited about our new partnership with Vision Capital. Vision Capital brings an innovative approach to the private equity business and we believe they will be a fantastic partner for NeV as we continue to grow our existing brand portfolio and execute on new opportunities.”

Matt Constantino, Managing Partner of Vision Capital Americas, LLC, stated,
“We welcome Mark Mastrov and the exceptional team at NeV to this partnership at Vision. Their track record sets them apart as the best team in the global health and fitness industry, and with our shared commitment to innovation, we see tremendous potential for this portfolio.”

The investment in NeV marks the continuation of Vision Capital’s growth in the United States. Other investment activity in the Americas has included its September 2010 acquisition of Terphane, the leading manufacturer of speciality polyester films in Latin America, together with other hotel and industrial investments.

For further information, please contact:

Brunswick Group
Mary Zimmerman / Daniel O’Donnell, Brunswick Group (US)
Telephone: (212) 333-3810

Tom Burns / Zoe Bird, Brunswick Group (UK)
Telephone: +44 (0) 20 7404 5959

Vision Capital is a limited liability partnership | Registered in England number: OC336240 | Authorised and regulated by the Financial Conduct Authority