The Deal Behind The Buyouts: TSG's LeComte on Consumer M&A in 2025
Apr 11, 2025
Pierre LeComte, Managing Director at TSG Consumer Partners, shares his extensive experience in consumer retail and private equity. He discusses investment strategies that prioritize long-term growth and profitability, especially in the beauty and home services sectors. LeComte also highlights the importance of strategic partnerships during challenging times, such as the pandemic, to enhance post-acquisition value. Additionally, he delves into the evolving fitness industry, consumer behavior shifts, and the broader M&A landscape, emphasizing resilience and adaptability.
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Post-Acquisition Value-Add Strategy
- Partner deeply with management teams with strategic and tactical plans post-investment.
- Leverage internal experts in market research, finance, talent, and digital marketing to scale growth.
TSG's Planet Fitness Journey
- TSG had a decade-long partnership with Planet Fitness, investing in both the franchisor and a large franchisee.
- They helped grow from about 500 gyms to over 2000 locations and led the IPO in 2015.
Changing Fitness Consumer Behavior
- Consumers now blend workouts across gyms, boutiques, home, and video.
- Fitness trends have shifted toward more strength training away from just cardio.