The Atlantic Club has been sold to Genesis Health Clubs, the largest privately owned health club provider in the country, according to a Tuesday announcement from the Rochelle Park-based DAK Group, which served as the exclusive investment banker and financial adviser to the Atlantic Club, initiating and managing the process.
The Atlantic Club’s two locations are the first in both New Jersey and the Northeastern U.S. for Genesis, bringing its total club count to 68.
The Atlantic Club is a health, fitness, wellness center and spa nestled on a 42-acre campus in Manasquan with a satellite campus in Red Bank. The Manasquan facility is known for its comprehensive services that include a state-of-the-art fitness center, indoor and outdoor aquatic and tennis centers, indoor turf field, outdoor sports fields, an early learning center for preschool and a spa and salon. Atlantic Club offers programs to a wide range audience from adults, elderly, toddlers to high schoolers and sports teams.
“The owners of the Atlantic Club have built an exceptional business with an excellent reputation and loyal, devoted customers. This transaction has provided them the opportunity to gain a strategic partner to accelerate their vision of growth,” Elyse Greenbaum, director at the DAK Group who led the transaction along with Marvin Ma, senior associate, said.
Kevin McHugh, previously president and chief operating officer of the Atlantic Club, has accepted a management role in the new Genesis organization that involves overseeing the clubs along with the current leadership team and staff across both facilities.
“We’re excited to be able to continue providing everyone the same great product they’ve enjoyed for years, and also to become a part of a fitness leader like Genesis that will support the growth of all of our businesses and willingness to reinvest into both campuses future growth,” McHugh said.
