Investing To Win

Private Equity in Health & Fitness: How M&A Is Reshaping the HALO Sector In this episode of *Investing to Win*, host **Garret Wong** sits down with Pete Moore to dive into: - Private equity and mergers & acquisitions in the HALO (Health, Active Lifestyle, Outdoors) sector - How institutional capital scales health, fitness, and wellness businesses - Valuations, roll-ups, and exit strategies for multi-unit operators …and the powerful lessons entrepreneurs, investors, and operators can use to level up their business, leadership, and thinking. 🎥 **Prefer watching the conversation? The full video is available on YouTube:** https://youtu.be/eqNE-CrTOS8&list=UULFRs3SSmwVFbR2QEjIDqU0Ug This creates a richer experience with facial expressions, visuals, and deeper engagement. Whether you're a business owner, investor, operator, or someone exploring new pathways to financial freedom, this episode delivers practical, no-fluff insights you can take action on immediately. --- ## 🔥 Episode Summary In this episode, Garret Wong sits down with Pete Moore, Managing Partner at Integrity Square, to unpack how private equity and M&A are transforming the health, fitness, and wellness landscape. Pete shares his journey from investment banking and Harvard Business School to becoming one of the most active dealmakers in what he calls the HALO sector: Health, Active Lifestyle, and Outdoors. The conversation explores why capital structure, scale, and professionalization matter for operators who want to compete against institutional-backed brands. Pete explains how Integrity Square helps founders move from proven local concepts to scalable platforms by connecting them with private equity, debt capital, and executive talent. He breaks down how EBITDA multiples work in practice, why businesses in the $3–$20 million EBITDA range attract institutional interest, and how platform acquisitions differ from venture-stage investments. Listeners gain a clear understanding of how private equity evaluates risk, growth potential, and unit economics across health clubs, med spas, supplements, and recovery concepts. The discussion also dives into roll-up strategies, consolidation trends following COVID, and why aging ownership in the fitness industry is accelerating deal activity. Pete offers candid insights into why some roll-ups succeed while others fail, highlighting operational discipline, compliance, and repeatable unit economics as critical factors. Throughout the episode, he reinforces a bigger mission behind the capital using entrepreneurship and investment to fight loneliness, obesity, and diabetes by building businesses that create community and improve health outcomes. --- ## 🎯 Key Takeaways • Understand why private equity focuses on businesses with proven EBITDA and repeatable unit economics • Learn how M&A helps founders scale while preserving personal net worth • See how roll-up strategies work in health clubs, wellness, and consumer fitness brands • Recognize the difference between venture capital risk and private equity growth capital • Identify why consolidation in the HALO sector is accelerating post-COVID --- ## 🧠 Topics Covered • Private equity fundamentals in health and fitness • M&A strategy for multi-location operators • EBITDA multiples and valuation drivers • Roll-ups and platform acquisitions • Venture capital vs private equity investing • Scaling health clubs and wellness brands • Institutional capital and growth funding • Consolidation trends in the HALO sector --- ## 🔍 SEO Keywords Private equity, M&A strategy, Health and fitness investing, HALO sector, EBITDA valuation, Business roll-ups,...