BOULDER — Private equity investment firm Advent International Corp. recently bought Zingfit LLC, a Boulder software firm that develops programs and applications for gyms, yoga studios and fitness brands.
Terms of the deal, which was led by Advent subsidiary Transaction Services Group, were not disclosed.
How a business manages its inventory can have a tremendous impact on the financial health of the company. Managed properly, inventory can be a great source of increased margins, higher revenue, or a combination of the two.
Zingfit CEO John Bogosian and chief technology officer Jeremy Firesenbaum will take on advisory roles with Transaction Services Group, according to an Advent news release.
“Zingfit enables boutique fitness studios to provide their members with a simple and intuitive way to book classes, buy workout gear and pay for classes, which in turn, increases customer loyalty and retention. TSG is a world-class player in software and payments for the global fitness industry and we look forward to bringing their outstanding capabilities to the leading brands on the Zingfit platform,” Bogosian said in a prepared statement.