SSG Capital Advisors acted as the investment banker to Gym Source, an East Coast distributor of fitness equipment, in the sale of all of its retail locations to Johnson Health Tech Retail. The transaction closed this month.

Gym Source was in the process of an internal restructuring plan when the COVID-19 pandemic caused shutdowns in March 2020. As a result, Gym Source was unable to fully execute its plan and decided to pursue investors that could provide the capital necessary to pursue its strategic objectives.

Gym Source retained SSG to conduct a comprehensive marketing process and solicit offers for the company. The process attracted interest from multiple parties that engaged in a thorough review of the business. Johnson’s offer ultimately provided the best value for the retail stores while allowing Gym Source to continue owning and operating its commercial business.

James H. Carll, James G. Smith and Jerrold S. Kulback of Archer Law served as counsel to Gym Source. Andrew L. Nelson of Foley & Lardner served as counsel to Johnson Health Tech Retail. Mitchell F. Schaffer of Cantor Fitzgerald served as investment banker to Johnson Health Tech Retail.