Sherman Oaks, CA (PRWEB) December 30, 2005 — Encore Fitness, a provider of quick, effective and high-intensity cardiovascular workout facilities, today announced that it was acquired in a management buy-out transaction on December 15. Terms of the deal were not disclosed.
Prior to the transaction, Encore Fitness (“Encore”) was majority-owned by Funk Ventures Capital Partners (“FVCP”), the venture capital arm of Los Angeles based investment firm Funk Ventures. FVCP originally made a venture investment in Encore in July 2004 to spark the growth of Encore in the Southern California region. In December 2004, FVCP acquired the entire company and infused internal management to position the company for additional expansion.
About Encore Fitness
Since its inception, Encore Fitness has focused on high-intensity cardiovascular workouts, such as spinning, an indoor cycling trend that has found millions of enthusiastic followers worldwide. Encore Fitness is best known for operating one of the largest spinning facilities in Los Angeles and was rated “Best Spinning Gym” twice in a row. For more information, please visit www.encorefitness.com or call 818-995-7433.
About Funk Ventures
Funk Ventures is a multi-faceted investment firm headquartered in Los Angeles, California. The firm’s diversified business segments include venture capital, business acceleration and real estate. The firm’s venture capital arm makes value-add investments in promising companies in the wellness, medical and clean technology spaces. Funk Ventures also runs a business accelerator, providing resources, expertise and management to growing companies that are still too young to receive venture financing. For more information, visit www.funkventures.com or call (818) 716-0413. Funk Ventures is a registered trademark of Funk Ventures, Inc.