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Private Equity
peqm.com

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Investments

17

Portfolio Exits

10

Funds

10

About Performance Equity Management

Performance Equity Management is a global private equity firm that provides private equity investment access, both partnership and direct, to institutional clients worldwide.

Performance Equity Management Headquarter Location

5 Greenwich Office Park

Greenwich, Connecticut, 06831,

United States

203-742-2400

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Latest Performance Equity Management News

BRS and Performance Equity Management Announce Acquisition of Eos Fitness

Feb 5, 2019

BRS and Performance Equity Management Announce Acquisition of Eos Fitness   NEW YORK, NY – January 30, 2015 – Bruckmann, Rosser, Sherrill & Co. (“BRS”) and Performance Equity Management (“PEM”) today announced the acquisition of Eos Fitness Holdings, LLC (“Eos Fitness” or the “Company”). Eos Fitness, based in Phoenix, Arizona, is a “High-Value Low-Price” fitness club chain operating 16 locations in Phoenix, Las Vegas and Southern California. Eos Fitness combines highly affordable and flexible membership plans with a full range of fitness club amenities, including cardio and strength-training equipment, personal training, group exercise, spinning, cardio theaters, women’s-only rooms, locker rooms, saunas, steam rooms, child care and 24-hour access. Since its founding by Brad Neste in 1985, the Company operated as a franchisee of a national health club brand. In conjunction with the acquisition, the Company re-launched under its new brand, Eos Fitness. Sean Paxton, President and CEO of Eos Fitness, said, “We worked very closely with BRS since 2013, and were impressed with their deep expertise in the fitness club space and in the retail and consumer industries as a whole. We learned how BRS took Town Sports International from 22 clubs to 162 clubs and an IPO in 10 years. We believe BRS will bring great value as a partner to Eos Fitness, and are excited to begin a new growth phase with them.” Bruce Bruckmann, co-founder and Managing Director of BRS, said, “Sean leads the best team of managers we have encountered among independent fitness club chains. This, combined with a category-killing operating model, is expected to result in strong returns for Eos and its investors. We are very pleased to partner with such an exceptional team and Company.” John Clark, Managing Director of Performance Equity, added, “We have been a partner to BRS since its inception in 1996, and are pleased to work with them again. Bruce and his team have extensive experience in this space, and we believe the combination of their insight and management’s expertise position Eos Fitness for growth and success.” Fifth Street Finance Corp. and Stellus Capital Investment Corp. provided debt financing and co-invested in the equity in the transaction. Dechert LLP acted as legal advisor to BRS. Integrity Square acted as the financial advisor and Ballard Spahr acted as legal advisor to Brad Neste. About BRS BRS is a New York based private equity firm with $1.4 billion of committed capital under management in three investment partnerships, focused on investing in middle market consumer goods and services businesses. Since 1996, BRS has purchased over 40 portfolio companies for aggregate consideration of over $6.4 billion. In addition, BRS portfolio companies have completed approximately $1.9 billion of add-on acquisitions. Prior to forming the firm, the founders of BRS were in the private equity business at Citicorp Venture Capital where they closed 25 transactions with aggregate transaction values totaling $5.8 billion. Former and current investments include Town Sports International (NASDAQ: CLUB), the largest chain of fitness clubs in the Northeast and Mid-Atlantic regions of the U.S.; DTLR, the leading specialty retailer targeting the young, urban male; InMotion Entertainment Group, the largest airport-based retailer of headphones, mobile device accessories and other consumer electronics. ( www.brs.com ) About Performance Equity Management Performance Equity Management is a leading global private equity firm. Their mission is to provide high quality private equity investment access, both partnership and direct, to institutional clients worldwide. With committed capital of over $20 billion as of the most recent quarter end, Performance Equity’s experience encompasses all areas of private equity investing and has earned them a reputation for excellence in the marketplace. ( www.peqm.com ) For additional information and questions please contact: Mark Semer or Ruth Pachman, Kekst, 212-521-4800 Share

Performance Equity Management Investments

17 Investments

Performance Equity Management has made 17 investments. Their latest investment was in Tune as part of their Series B on January 1, 2015.

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Performance Equity Management Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/29/2015

Series B

Tune

$27M

Yes

2

4/21/2014

Series C

NextRoll

$70M

Yes

12

7/18/2013

Series D

Edgecast

$54M

Yes

2

5/23/2011

Series D

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$99M

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10

7/12/2010

Unattributed VC - IV

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$99M

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0

Date

1/29/2015

4/21/2014

7/18/2013

5/23/2011

7/12/2010

Round

Series B

Series C

Series D

Series D

Unattributed VC - IV

Company

Tune

NextRoll

Edgecast

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Amount

$27M

$70M

$54M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

12

2

10

0

Performance Equity Management Portfolio Exits

10 Portfolio Exits

Performance Equity Management has 10 portfolio exits. Their latest portfolio exit was Tune on May 19, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/19/2020

Acquired

3

5/10/2018

Acquired

$99M

4

12/19/2016

Acquired

$99M

6

12/7/2013

Acquired

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$99M

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10

9/30/2013

Take Private

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$99M

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10

Date

5/19/2020

5/10/2018

12/19/2016

12/7/2013

9/30/2013

Exit

Acquired

Acquired

Acquired

Acquired

Take Private

Companies

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Valuation

$99M

$99M

$99M

$99M

Acquirer

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Sources

3

4

6

10

10

Performance Equity Management Acquisitions

2 Acquisitions

Performance Equity Management acquired 2 companies. Their latest acquisition was Complete Merchant Solutions on April 12, 2016.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

4/12/2016

Debt

$99M

$1.5M

Acq - Fin

4

2/4/2015

Debt

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$99M

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10

Date

4/12/2016

2/4/2015

Investment Stage

Debt

Debt

Companies

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Valuation

$99M

$99M

Total Funding

$1.5M

Note

Acq - Fin

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Sources

4

10

Performance Equity Management Fund History

10 Fund Histories

Performance Equity Management has 10 funds, including Performance Direct Investments IV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

4/8/2020

Performance Direct Investments IV

Co-Investment Fund

Open

$122.53M

3

2/10/2020

Performance Venture Capital IV

Fund Of Funds

Open

$317.48M

2

9/19/2015

Performance Direct Investments III

Co-Investment Fund

Closed

$138M

1

3/11/2014

Performance Venture Capital III LP

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$99M

10

5/19/2010

Performance Opportunities Fund LP

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$99M

10

Closing Date

4/8/2020

2/10/2020

9/19/2015

3/11/2014

5/19/2010

Fund

Performance Direct Investments IV

Performance Venture Capital IV

Performance Direct Investments III

Performance Venture Capital III LP

Performance Opportunities Fund LP

Fund Type

Co-Investment Fund

Fund Of Funds

Co-Investment Fund

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Status

Open

Open

Closed

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Amount

$122.53M

$317.48M

$138M

$99M

$99M

Sources

3

2

1

10

10

Performance Equity Management Team

10 Team Members

Performance Equity Management has 10 team members, including current Chief Executive Officer, Charles G. Froland.

Name

Work History

Title

Status

Charles G. Froland

Chief Executive Officer

Current

Scott Koeber

Chief Financial Officer

Current

Jon Deklerk

Chief Operating Officer

Current

Christopher Millin

Controller

Current

Jeffrey Barman

Managing Director

Current

Name

Charles G. Froland

Scott Koeber

Jon Deklerk

Christopher Millin

Jeffrey Barman

Work History

Title

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Controller

Managing Director

Status

Current

Current

Current

Current

Current

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