VASA Fitness has become a popular name in the fitness industry, offering affordable memberships and state-of-the-art facilities. With over 50 locations across several states, it’s known for creating a welcoming environment for fitness enthusiasts. But have you ever wondered, “Who owns VASA Fitness?” The story of its ownership is fascinating and highlights how strategic leadership and investments can transform a company. In this blog post, we’ll take a closer look at the ownership structure, the history behind it, and what makes VASA Fitness stand out in the competitive fitness market.
Overview of VASA Fitness
VASA Fitness is a chain of fitness centers in the United States, headquartered in Orem, Utah. Founded in 2014, the company’s mission is to provide an “uplifting” and inclusive fitness environment for people of all fitness levels. VASA operates on a “high-value, low-price” model, offering members a wide range of amenities at an affordable cost.
Their large, full-service clubs typically feature state-of-the-art equipment, cardio areas, functional training turf, and a variety of group fitness classes, including boutique-style programs like STUDIO RED (HIIT) and STUDIO FLOW (infrared yoga). Additionally, many locations offer amenities such as pools, saunas, basketball and racquetball courts, and a KidCare service.
Who Owns VASA Fitness?
VASA Fitness is primarily owned by the private equity firm Silver Oak Services Partners. The firm invested in the fitness company in 2014, in a partnership with VASA’s founder, Scott Felsted, and the management team.
This investment led to the re-launch of the brand under the name VASA Fitness, which had previously operated as a franchisee of a different national health club brand. While Silver Oak is the principal owner, VASA’s original founders and leadership still maintain a significant ownership stake.
Ownership History of VASA Fitness
VASA Fitness has an interesting ownership history. It originally operated as part of Gold’s Gym, one of the most recognized names in the fitness industry. Gold’s Gym was known for its focus on bodybuilding and strength training, but the VASA Fitness locations took a slightly different approach, prioritizing accessibility and inclusivity.
In 2014, Silver Oak Services Partners acquired the VASA Fitness brand. This marked a significant turning point for the company. Under Silver Oak’s ownership, VASA Fitness began to differentiate itself from its competitors, focusing on affordability and creating community-oriented spaces. This strategy allowed the brand to carve out its own identity within the fitness market.
The transition was more than just a change in ownership it was a shift in philosophy. Silver Oak Services Partners recognized the growing demand for gyms that cater to everyday people, not just fitness professionals. By focusing on this niche, VASA Fitness was able to target a broader audience and establish itself as a leader in the mid-range gym category.
Since the acquisition, VASA Fitness has seen remarkable growth. The company has expanded its footprint, introduced innovative services, and built strong relationships with its members. This success is a testament to the power of strategic ownership and effective leadership.
The Growth and Expansion of VASA Fitness
VASA Fitness has experienced significant growth and expansion since its re-launch in 2014, establishing itself as a major player in the “high-value, low-price” (HVLP) segment of the fitness industry. The company’s strategy is to expand its presence in the Western and Midwestern United States, focusing on markets where its brand already has a strong footing.
As of late 2024, VASA operates over 60 clubs across multiple states, including Utah, Colorado, Arizona, Indiana, Illinois, Wisconsin, Oklahoma, and Nebraska. A key part of its expansion strategy is not only opening new, large-format clubs but also re-investing in existing locations to bring them up to date with new amenities like STUDIO RED HIIT and STUDIO FLOW infrared yoga.
VASA’s growth is driven by its “mall of fitness” approach, which offers a wide variety of amenities under one roof, appealing to a diverse member base and allowing it to compete with both low-cost gyms and more expensive boutique studios.
What Sets VASA Fitness Apart?
VASA Fitness stands out for several reasons. First and foremost, it prioritizes accessibility. Unlike many gyms that cater to niche markets, VASA Fitness welcomes everyone, from first-timers to seasoned athletes. This inclusivity is reflected in its membership options, which are designed to fit different budgets and lifestyles.
Another distinguishing feature is its wide range of amenities. From group fitness classes to swimming pools, VASA Fitness offers something for everyone. These extras make it more than just a gym it’s a community hub where people can unwind and connect.
Innovation is also a hallmark of VASA Fitness. The company regularly updates its equipment and introduces new programs to keep members engaged. Whether it’s a high-tech treadmill or a cutting-edge fitness app, VASA Fitness is always looking for ways to enhance the experience.
Finally, the leadership and ownership structure set VASA Fitness apart. With Silver Oak Services Partners providing financial backing and Rich Nelsen steering the ship, the company benefits from a strong foundation. This combination of resources and vision ensures that VASA Fitness continues to grow and succeed.
Future of VASA Fitness
The future looks bright for VASA Fitness. With plans to open more locations and expand its services, the company is poised for continued growth. Its focus on affordability and innovation will likely attract even more members, solidifying its position as a leader in the fitness industry.
Under the ownership of Silver Oak Services Partners and the leadership of Rich Nelsen, VASA Fitness is well-equipped to adapt to changing market trends. Whether it’s introducing new wellness programs or enhancing its digital offerings, the company is always looking ahead.
As the fitness industry evolves, VASA Fitness is likely to remain a key player. Its commitment to inclusivity and innovation ensures that it will continue to meet the needs of its members. With a strong ownership structure and visionary leadership, the brand is ready to take on whatever challenges come its way.
Conclusion
VASA Fitness is more than just a gym it’s a brand built on accessibility, innovation, and community. Owned by Silver Oak Services Partners and led by CEO Rich Nelsen, the company has experienced remarkable growth and success. Its ownership history and leadership structure have played a pivotal role in shaping its journey.
As VASA Fitness continues to expand, it remains committed to empowering people to live healthier lives. With its strong foundation and forward-thinking approach, the brand is set to thrive in the years to come. So now that you know who owns VASA Fitness, you can appreciate the strategic vision and leadership that have made it a standout name in the fitness world.
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FAQs
Is VASA Fitness Privately Owned?
Yes, VASA Fitness is a privately owned company. It is backed by the private equity firm Silver Oak Services Partners, which invested in the company in 2014 in partnership with the original founders. This makes VASA a privately held business, rather than a publicly traded one.
Who is the CEO of VASA Fitness?
The CEO of VASA Fitness is Rich Nelsen, who leads the company’s strategy and expansion efforts.
How Many Locations Does VASA Fitness Have?
VASA Fitness operates over 50 locations across multiple states, with continued plans for expansion.
Who Created VASA Fitness?
VASA Fitness was created by Scott Felsted, who founded the company in 1996. He initially established the business as a franchisee of a different national health club brand before it was rebranded as VASA Fitness in 2014.
