Franvest Capital Partners is a private equity firm that invests in lower middle market privately held companies primarily in the fitness, wellness, or franchise industries. We will invest in early stage or established companies as a minority or majority investor.

We seek opportunities with strong management in proven businesses with differentiated offerings who are seeking to grow or dominate their market.  We have also invested in companies requiring financial restructuring, strategic redirection, or operational improvement that have a compelling business plan, strong management, and the opportunity to provide superior returns.

We are hands-on, value added investors that work closely with management on strategic planning and the addition of resources to facilitate growth. We embrace technology as one resource to improve customer experience and business performance while creating competitive advantage.

Investments that we have completed in the past include private to public transactions, recapitalizations, and the provision of capital to facilitate acquisitions, turnarounds, and carve outs.

Franvest is able to respond quickly and confidentially to investment opportunities and has the ability to offer a high degree of flexibility.

Investment Philosophy


Franvest will evaluate investment opportunities that meets the following criteria:

  • Companies with annual revenues of $5 million to $50+ million

  • Equity investments of $1 million to $10+ million.

  • Enterprise values of $5 million to- $50+ million

  • EBITDA of $0 to- $5+ million

  • No start-ups –  we only invest in operating businesses, but will consider turn around opportunities

Our evaluation strategy focuses on:


We seek strong management partners to execute the operational and strategic business plan for the companies that we invest in. We will also help in developing management teams as the companies grow and excel.


Our goal is to invest in companies that have a compelling business plan to achieve superior operating results and target growth of at least 100% over a five to seven year timeline.


We typically seek to invest in health, wellness, and franchise companies based on our experience and success in those industries.

We encourage business owners, management, and/or professional advisors to contact us with opportunities that meet our investment criteria. 


Our current investments include:

  • Orangetheory Fitness is a fitness franchise with hundreds of locations in the US and worldwide.

  • Franvest Capital Partners is the Master Franchisee for all Orangetheory Fitness studios Canada wide.

  • OTF Distribution is a leading manufacturer and distributor of fitness heart rate monitoring technology.

Past Investments

Franvest has invested in numerous businesses over the past 20 years.

Previous investments have included:

  • XS FLOORING LTD. 2010 – 2013. A commercial flooring distributor operating across Western Canada.

  • INTERNATIONAL FITNESS HOLDINGS INC., 2008 – 2012. Industry consolidation of Club Fit, World Health, and Spa Lady, with 24 clubs in Alberta and over 80,000 members.

  • CLUB FIT CORP. 1999 – 2008.  Edmonton’s largest full service fitness clubs chain.

  • WINSHIP INFLATABLES LTD.1999-2004.  A leading manufacturer of cold air inflatable advertising systems.

  • WINDSHIP AVIATION LTD.1999 – 2004.  Edmonton’s leading hot air balloon ride company.

  • TRACEABILITY SOLUTIONS INC.,1996 – 2005.The leading provider of software to the metals industry to track product documentation.

  • FOUNDATION GROUP MERGERS & ACQUISITIONS INC., 1991-1997. An M&A brokerage firm specializing in the purchase and sale of small to mid-market companies in Western Canada.

  • World Health.World Health is Edmonton’s leading premier fitness club chain with 10 full locations.

  • Fresh Fit Foods.Fresh Fit Foods provides fresh, healthy, ready-to-eat meals and a 21 day weight loss program with 15 retail and pickup locations in Edmonton.


Our team has over 50 years of combined experience in the fitness, wellness, and franchise industries. In addition to the key management team, Franvest has a committed group of advisors and consultants that provide assistance during due diligence, transactions, and for ongoing operations.

  •  David A. Hardy

    David A. Hardy, MBA

    Principal & President

  • Blake MacDonald

    Blake MacDonald, B.Com

    Managing Partner

  • Kelly Hall

    Kelly Hall, B.A


  • Matt Walsh

    Matt Walsh, B.Com

    Associate & Financial Analyst


While Franvest has its own pool of committed capital, in limited circumstances we partner with other investors or funds to complete larger transactions.

Franvest investment opportunities are provided only to a limited number of private investors or funds. Franvest does not make its services available to the public. 

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