REALIZED INVESTMENTS

Orangetheory Fitness (OTF) is an American boutique fitness studio franchise based in Boca Raton, Florida. The first studio was established in Fort Lauderdale, Florida in 2010 by founder, Ellen Latham. The classes are one hour long and involve two groups, one on the treadmills and the other group working with weights or on rowers. As of 2023, Orangetheory Fitness has over 1,500 studios throughout 50 US states and 24 countries. Since its founding in 2010, the chain has expanded, surpassing $1 billion in systemwide sales in 2018. As of 2020, the chain has over one million members.