Empire Portfolio Group, a developer and franchisee of the Orangetheory Fitness health club network, has acquired four of the chain’s studios in Fairfield County.
The Orangetheory Fitness studios being acquired are based in Fairfield, Norwalk, Westport and Shelton and were sold by Mark Molina and Fred Maudsley, who started their franchises in 2004. The financial terms of the transaction were not disclosed.
The New York City-based Empire Portfolio Group also operates Connecticut studios in Darien, Stamford and Milford, along with four in Manhattan and 11 in New Jersey.
“We’re thrilled about our continued growth,” Empire CEO Adam Krell said. “As current operators of some of the strongest performing studios in Connecticut, this opportunity was a natural next step for us.”