Consumer-focused lower middle market private equity firm
Meaningful Partners
- HeadquartersLos Angeles, CA S5
- Websitemeaningfulpartners.com
- Last verifiedNovember 3, 2026
At a glance
| Assets under management | $500M (as of Jan 2025) S5 |
|---|---|
| Latest fund | Meaningful Partners Dedicated Capital Vehicle ii, $150M (Jan 2025) S5 |
| EBITDA range | $5M+ S2 |
| Revenue range | $20M+ S2 |
| Check size | $20M to $100M S6 |
| Deal types | Platform, Add-on, Minority, Growth S2 |
| Sectors | Consumer & Food |
What Meaningful Partners buys
Meaningful Partners is a Los Angeles private equity firm, with a second office in Austin, that invests only in consumer businesses. It takes control or significant minority positions in lower middle market companies with more than $5 million of EBITDA, and in faster growing companies with more than $20 million of revenue that are close to profitable. Its May 2026 description puts investments at $20 million to more than $100 million. It covers food and beverage, beauty and supplements, pet, and multi-unit food and services, and it favors brands with loyal customers. The firm reported about $500 million of assets after closing its second fund in January 2025.
Its most active holding is Fitness Ventures, a Crunch Fitness franchisee it bought in August 2024 and has grown to more than 100 gyms, including 22 bought from Harman Fitness in May 2026. A smaller operator is most likely to meet the firm as a franchise add-on like that, or through a minority growth round like Allies of Skin in 2024.
Recent deals
Announced in the 24 months before November 3, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| May 2026 | Harman Fitness (22 Crunch Fitness locations)Made Fitness Ventures the largest Crunch franchisee, with 115 locations in 30 states | Add-on | Consumer & Food | Source |
| Dec 2025 | Crunch Brownsville, Crunch North Brownsville and Crunch EdinburgThree South Texas gyms added to Fitness Ventures | Add-on | Consumer & Food | Source |
| Aug 2025 | Three Crunch Fitness locations in PortlandFitness Ventures entered Portland with a planned $75 million build-out of the market | Add-on | Consumer & Food | Source |
| Jan 2025 | Meaningful Partners Dedicated Capital Vehicle iiSecond fund closed with over $150 million of commitments | Fund close | Source |
Portfolio by sector
From the firm's portfolio page S3.
Consumer & Food
- Fitness Ventures
- Westrock Coffee Listed on firm site
- Suja Organic Listed on firm site
- Om Mushroom Superfood Listed on firm site
- Active Apparel Group Listed on firm site
- &pizza Listed on firm site
- Skiptown Listed on firm site
- Sugarbear Listed on firm site
- Allies of Skin Listed on firm site
Other
- CLOSER Listed on firm site
Greymont’s take
How Meaningful Partners fits a seller
Meaningful Partners suits consumer founders who want a partner that knows their category and cares about mission as well as numbers. It can take a minority stake for growth, as it did with Allies of Skin and Om Mushroom Superfood in 2024, or buy control, as with Fitness Ventures. It also brings an Expert Community of more than 35 consumer executives and founders to work with its companies.
For multi-unit operators, Fitness Ventures is the clearest example: its chief executive stayed in place, and the platform has bought other franchisees' gyms in Portland, South Texas, Southern California and Houston. An owner should ask how much of the firm's second fund, a little over $150 million, remains for new deals, and how firm its stated $20 million starting point is for a company at the low end of its range.
Questions owners ask
What size company does Meaningful Partners look for?
Its website asks for lower middle market companies with more than $5 million of EBITDA or growth companies with over $20 million of revenue, though the criteria list on the same page says more than $3 million of EBITDA.
Does Meaningful Partners take minority stakes?
Yes. It makes control or significant minority investments, and it described its 2024 deals with Allies of Skin and Om Mushroom Superfood as strategic growth investments rather than buyouts.
Does Meaningful Partners buy franchisees or multi-unit businesses?
Yes. It owns Fitness Ventures, now the largest Crunch Fitness franchisee, which has bought gyms from other operators, including 22 from Harman Fitness in May 2026. That release pitches the company as a home for operators who want to scale further or step away.
Does Meaningful Partners invest outside the consumer sector?
No. Its releases describe it as focused only on consumer companies. The focus areas in its May 2026 description are multi-unit food and services, food and beverage and ingredients, pet, and beauty and supplements.
Sources
- S1Meaningful Partners home page Accessed November 3, 2026
- S2Meaningful Partners: What We Do Accessed November 3, 2026
- S3Meaningful Partners: Partner Companies Accessed November 3, 2026
- S4Meaningful Partners: News and Updates Accessed November 3, 2026
- S5Meaningful Partners Completes Successful Fundraise (January 27, 2025) Accessed November 3, 2026
- S6Fitness Ventures Becomes Largest Operator in Crunch Fitness System (May 19, 2026) Accessed November 3, 2026
- S7Fitness Ventures Acquires Three Existing Crunch Locations in Portland (August 1, 2025) Accessed November 3, 2026
- S8Fitness Ventures Acquires Three South Texas Crunch Locations (December 8, 2025) Accessed November 3, 2026
- S9Fitness Ventures home page Accessed November 3, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Meaningful Partners. Figures are as reported on the dates shown and may have changed. Request a correction