Snapdragon Capital Partners Injects $30M to Accelerate Spartan Fitness Holdings' Multi-Brand Expansion Strategy

The boutique fitness franchising landscape just got more competitive. Snapdragon Capital Partners, a prominent private equity investor known for backing category leaders in consumer wellness, has committed over $30 million to Spartan Fitness Holdings—marking a significant bet on the company’s aggressive growth trajectory.

From Six Studios to Sixty in Less Than Two Years

The numbers tell an impressive story. Since Snapdragon’s initial partnership with Spartan in June 2021, the company has scaled from just six Club Pilates locations to 60 operating studios across seven states: Texas, Florida, North Carolina, Ohio, Massachusetts, Missouri, and Illinois. This represents a tenfold expansion in under two years—a pace that underscores how institutional capital combined with experienced franchisee management can reshape a regional player into a market contender.

The Club Pilates expansion serves as the foundation, but it’s just the beginning. Spartan Fitness Holdings has already diversified into adjacent wellness categories through acquisitions including Hand & Stone and V/O Med Spa, signaling a deliberate shift toward becoming a true multi-brand fitness and wellness operator rather than a single-concept shop.

The Growth Blueprint Ahead

This latest capital infusion will turbocharge two parallel tracks. First, continued expansion of the Club Pilates footprint—the company currently holds development rights for an additional 40 locations, representing runway well into 2024 and beyond. Second, selective acquisitions and organic builds in complementary health and wellness verticals, further diversifying revenue streams and market exposure.

Snapdragon’s conviction in this model runs deep. The investor’s portfolio already includes Xponential Fitness, the global leader in boutique fitness franchising, positioning Snapdragon as deeply familiar with both the opportunities and operational challenges in this space. David Schuck, founder and CEO of Spartan, brings proven operator credentials within the Xponential ecosystem, having emerged as one of the system’s most successful franchisees.

Why This Matters for the Fitness Franchise Sector

The investment reflects a broader capital trend: the boutique fitness and wellness space has matured enough to attract serious institutional funding focused on franchisee consolidation. Rather than purely top-down franchise growth, investors are backing multi-unit operators who can build regional density, negotiate better terms, and deliver superior consumer experiences across multiple brands.

For Spartan Fitness Holdings specifically, this positions the company to move faster, acquire strategically, and build what could become one of the largest franchisee platforms spanning health, fitness, and wellness services across the Southeast and Midwest.