Skip to comments.CrossFit Founder Purchases Share of Company from Wife ($16+ mil)
Posted on 11/16/2012 5:59:13 AM PST by RoosterRedux
Greg Glassman, founder of CrossFit, Washington, DC, has bought the 50 percent share of the company owned by his wife, Lauren, who had had an agreement to sell her share to private equity firm Anthos Capital.
The transaction was completed Wednesday morning, Greg Glassman said today in an interview with Club Industry. The purchase was $16.09 millionthe amount Lauren Glassman would have received after taxes upon the sale of her stock to Anthos Capital, Menlo Park, CA, which approached her last year with its $20 million offer. According to a judges order, Greg Glassman had until today to complete the transaction.
I paid it, and I now own 100 percent of the stock, Glassman said by phone from Amelia Island, FL, where he spoke to business leaders at the SPN annual meeting. Its over. We win.
Glassman told Club Industry that Summit Partners, Boston, provided the $16.09 million loan for the transaction. Summit Partners, a venture capital firm, has invested in the industry in the past, most notably Snap Fitness, Chanhassen, MN.
(Excerpt) Read more at clubindustry.com ...
MEMO TO BUSINESS OWNERS:
Make sure you have air tight pre nups and business partnership agreements in place, pronto.
she’s hot - but she was also hot in the ‘before’ photos
too skinny in the ‘after’
I’ll go with the “before” pics on this one.
“Before” looks better.
Here's what an older guy can do if he wants to (72 y/o Dr Jeffrey Life)...
Free Republic is certainly infested with “Chubby Chasers.” The men on this forum sure like their women fat and flabby.
Those of us who are cultured like Rubensesque
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