With new backing from Eagle Merchant Partners, Aligned Fitness will accelerate its Club Pilates expansion across the Southeast and Mid-Atlantic
Eagle Merchant Partners has made the first play from its newly closed second fund, taking a stake in Club Pilates franchisee Aligned Fitness and partnering with its leadership to expand through new studio openings and acquisitions across the Southeastern and Mid-Atlantic U.S.
The Pilates franchisee, operating under one of Xponential Fitness’ most successful brands, joins a growing list of fitness companies and franchise groups that have secured private equity backing in recent months, including Barry’s, Crunch Fitness and indoor pickleball franchise PickleRage.
The deal marks Eagle’s third move in the health and wellness space, following its 2024 acquisition of AYA Medical Spa and prior investment in United Planet Fitness. The Atlanta-based private equity firm also completed two add-on acquisitions: Crescent Concepts, which operates Club Pilates studios in North and South Carolina, and Next Twenty, which operates locations in Georgia. With the deals, Aligned now operates 34 studios across the three states.
“The Club Pilates system represents a highly attractive opportunity given its market-leading brand within the pilates sector, passionate and inclusive member base and strong unit economics,” said Jake Rubenstein of Eagle Merchant Partners. “Jon, Joe, Kerry and their team have built a differentiated platform focused on providing a consistent, high-quality experience to their members, and we are investing in their vision for growth.”
Aligned Fitness CEO Jon Smith, along with founders Joe and Kerry Ruggieri, will remain in their current roles.
“We were drawn to Eagle’s track record in wellness and franchising,” Smith said. “They understand the dynamics of growing a multi-unit consumer business and bring the right mix of operational and strategic support as we expand.”
