Episode #607: Building EoS Fitness-Growth Strategies and Leadership Lessons from CEO, Rich Drengberg

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This is Pete Moore on Halo Talks NYC. I have the pleasure of bringing

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a friend of mine in the Halo sector for a very, very long

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time, Rich Drenberg, EOS CEO. Welcome to the

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show. Thanks, Pete. Happy to be here. Uh, we made it through your

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agent and your compliance, and it's glad to know that you are

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the only podcast, uh, that, uh, that you, you'll be on my podcast, and

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hopefully we'll be able to say we have an exclusive on the Drenberg interview.

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which could go down as, you know, an LA, you know,

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archive back in the day to now. But look, you've

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been at EOS, you know, to refresh everyone's

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memory in the audience here, this was the largest Gold's

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Gym area developer out of Phoenix, Palm

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Springs, and parts of Southern Cal and Vegas,

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owned by Brad and Juan Denesti, was sold to Bruce Bruckman.

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at BRS who brought in Bob Giardina. And their

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construct there was, let's take the Gold's Gym brand down, let's pay the

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fees. We went back and forth on different names

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to come up with. And EOS, EOS is Latin for

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the dawn. So it was the dawn of fitness. And that was Bruce Bruckman,

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who I think trademarked the name before we actually closed the deal,

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which is— Right, this was your deal. This was our deal originally,

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um, and, uh, that closed in 2014. And, um,

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maybe pick up on how you got involved in EOS, uh,

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you know, when you were originally at the VP of Sales and Marketing at a

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fast-growing and, you know, legendary Gold's Gym SoCal.

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Yeah, I mean, listen, Angel Lee, probably the best independent club

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operators in the country, and I had 15 years with them

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to learn every aspect of the business, uh, sales,

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marketing, operation, real estate, HR, um,

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you call it. And those— in that kind of environment, you get to learn, learn

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everything. And, and they were the best at it. So they really

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prepared me, um, you know, for that next

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step. And in 2015, when I, when I went

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there to meet with BRS and take on this opportunity, I

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think they, they saw that same thing. And the things that I didn't know

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were the things that they knew the most about. Yeah.

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So it worked out pretty great. And then obviously I had the

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luxury of getting Bob Giardina as my

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mentor, kind of big brother, uncle, whatever you want to

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call it. But he's— he was a big deal for me

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and he still is. He's still on our board now. Yeah. And for people who

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don't know, Bob was a legendary operator out

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of the New York area with New York Sports Clubs and Town Sports, which was

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a BRS deal that was wildly successful over

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many leveraged buyout recaps and then eventually

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turned that into a publicly traded company. So when they looked at the Southwest Gold's

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deal, they kind of said, hey, let's replicate this throughout the

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Sunbelt and executed on that plan

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seamlessly, obviously under your direction. So Rich,

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once you got involved in obviously the Gold's

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Gym to the EOS transaction, was running like the

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quintessential HVLP 2.0,

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you know, fast-growing markets. Obviously a lot of people were moving into

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Vegas and to Phoenix. You know, what did you kind

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of tinker with with the business? And when did you know,

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or when did you tell the guys at BRS and the board, hey guys, like,

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I'm ready to put like some rocket fuel on this thing?

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Yeah, I mean, we were at the HVLP when I came in, that

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work had been done. So really it just became—

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now we had to put a brand behind the name. Mhm. And

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so really we took 2015 to do that. We

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put the right people in the right seats in the bus, brought more people in

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to, to support that, and, uh, really thought about what our

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vision wanted to be, what our purpose was going to be, our mission. Because again,

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we literally took one name down and put a new name up. And so that

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was 2015, uh, 2016,

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we opened 2 gyms. 2017, we

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opened up 3 gyms. And, uh, at that point,

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we really started getting the momentum behind us and feel like we, we had

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something. So I would say probably 2017 was really,

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uh, rolling into 2018 when we knew we really had something special.

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Uh, I would also say that we really, from the beginning, didn't

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settle on HVLP as being

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Enough. And it was enough in 2015. You could just compete against your

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local mid-price competitor with cardio and strength and some group

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exercise classes, maybe a kids club, and you

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would win. And we just had the vision that we wanted

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to add more value than those

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mid-price competitors if possible, and really just be the

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absolute compelling offering in the You know, one of the

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things that, that stood out to me as you guys were growing is,

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well, 2 things. One is you were very disciplined and you're very good at saying

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no to me and other people about things that didn't fit,

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that might be an interesting acquisition, but long-term, either the

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box size wasn't what you wanted it to be. Um, you know,

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so very disciplined in that growth strategy. And,

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you know, talk a little bit about how you guys

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looked at opportunities and said, hey, I'm going to greenlight this. And,

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you know, these are interesting, but like, they're not who I want to be.

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Yeah, well, listen, first, Pete, we didn't have a lot of money,

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right? I mean, we were still a small business growing. And so we definitely

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had to pick our opportunities, what made sense and what didn't make sense

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during that time. But we all— we also had the

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experience like Bruce Bruckman. You know, he had been through this with New York Sports

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Clubs and did lots of expansions. And obviously

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Bob was the one in the forefront of that. And they were very,

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I would say, very passionate about saying, Rich, you have a mousetrap

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that works. Let's stay focused on that. There's not

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a lack of opportunities out there. So let's pick and choose. And so

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when it makes sense to enter a market. And so that's exactly how we did

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it. We went to Utah, we picked a small chain out there. And that helped

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us get 5 gyms in Utah. Then there was an opportunity in

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Houston to grab a small chain in Houston,

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and that was a great way to jump off a market there. So we've really

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just picked for the most part that. And then our most recent one

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with TSG was a bigger— we were bigger now. It's a

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trade area that we knew very well, and it was very hard to

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penetrate. So that one made a ton of sense for us too.

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This is Pete Moore. I wanna let you in on a little secret. There's this

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company called Promotion Vault, and what they do is they give out rewards

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from retailers that allow you to incentivize your

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members without having to do zero down and one month free,

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or giving away shakes or giving away t-shirts. What you want to do is

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build a rewards program that lasts. that people value

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and that doesn't discount your own products and services. So here's the deal.

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There's something called Rewards Vault. The Rewards Vault is going to allow

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a member to set up their own profile. They are going to answer

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questions. You are gonna get those answers. You're gonna be able to target those

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members and you're gonna reward them inside your club,

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inside your spa, and outside of the club and outside of the spa

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to get them to become loyal, To get them to pay their monthly dues

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and to be rewarded properly for the actions. A lot of

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companies are cutting back on rewards. You shouldn't be. Promotion Vault's your

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answer. Trust me, this is real.

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And then, you know, as you're talking about, like, we didn't have that much money

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back in the day, you know, it was a pretty highly levered

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deal, you know, for the people in the audience here listening.

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a private equity deal is based on trying to put as little equity in

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as you can on a deal, borrow as much money as senior

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debt or construction debt. Given you were coming

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in from, you know, a sales and marketing role, probably weren't

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as like, you know, didn't ever have to like wear a CFO hat at the

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same time. How did you kind of get comfortable with leverage

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ratios and bank reporting? You know, how quick of

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a— of mentorship or, you know, education did you

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get on that front? It was definitely an education, right? I think

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I came in with a PhD on how to run a gym, but this other

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stuff was a foreign language to me. I, again,

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I think very blessed with, you know, Rashad, you know, Rashad at

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BRS. You know, he was very much him and Bruce and Bob, all of

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them had lived this, and that was sort of the easy stuff for them. And

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so there wasn't a lot of pressure for me to catch up fast to

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understand that. I had a great CFO that came from TSI. She's

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still with us today, Peggy. And so I really just got to

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learn that over a period of time, and it really wasn't a big sprint.

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I would say the biggest things I got from private equity right out of the

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gate was the mindset change of, of,

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uh, being an independent operator where you just think differently. So

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I'll give you a couple of quick stories that, uh— Yeah, please. On that, I

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think it's kind of fun. One, one with Bob G. So, Bob sat down. We

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were opening our first gym in 2016.

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And, with our architect, I brought him in. I go, Bob, we're picking out the

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lights, we're picking out the flooring, we're picking out the colors, we're going through all

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this stuff. And, those of you that know Angel and Willie, and Willie specifically,

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every detail matters down. And, that's what

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made him so great. And so, that's what I'm doing because that's what I know.

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And, we're in this meeting for 2 or 3 hours and I look over at

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Bob and I go, Bob, Am I thinking about this too much? And he

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looks back over at me and he's like, yeah, if you don't

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like it, change it on the next one. Uh-huh. And

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it was like, you know what, a little bit of a, a big

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weight off of my back. And it wasn't that we didn't care, it wasn't that

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I wouldn't have thought to. He's just like, but you're going to paralyze yourself. You're

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not trying to open up just 1 or 2 gyms a year. There's a

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vision here to do more, and you, you have to get out of your own

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way. and move faster. So that was one with Bob.

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Uh, another one was with, uh, with him was around—

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if you remember, we— that, uh, it was a rocky start

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when we took— when the gyms changed names. I think you might have heard something

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about that, right, Pete? Yeah, yeah. I mean, it was a whole management, you know,

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it was crazy. And so I had this grand

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plan on, uh, improving those 16

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gyms. And let's just say the 16 gyms are all going to

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make $100,000 more, right? He's like—

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Bob's like, okay, that's great, or you can open one more

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gym, right? Right, right. And he wasn't saying it

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wasn't important to take care of the gyms behind me. He was just trying to

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get me out of that thought process of these are your 16

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babies, you have to make sure every one of these babies are healthy, and if

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they're not, you can't move past it. And in all fairness to someone like Angel

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and Willie as operators, that, that is their 16 babies and they did need

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to be taken care of in that, in that certain way. So it was just,

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just a different, different sort of viewpoint to it. Yeah.

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Um, I mean, I can keep going. I get like some of it with, with

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Bruce and, yeah, you know, Bruce would walk up

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to us and, and we'd talk about this kind of similar thing where we say,

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hey, uh, this gym isn't making any— it's only making $100

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grand a year. This is how we're going to make 15% more, right?

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He's like, okay, so you just made $15 grand more,

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right? That's a terrible gym and you're spending all your energy

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here. Why don't you— what about the gym that's making $1 million that you can

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make 15% more and that's going to equal

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$150,000 a year? That's probably a bet. If you

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have limited resources, limited ability to influence,

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Make sure that you're looking where the biggest opportunities are, not just looking at

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the worst, maybe the worst situation and trying to make that better.

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Yeah, yeah. Those are some great, great takeaways. And then

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I do have to give one more on Bruce though. Yes, please. Probably the most—

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this is probably the change EOS's trajectory forever was this one.

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Is in, uh, we opened those 2 gyms and crushed it in

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2016. Then we opened up those 3 gyms in

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2017 and crushed it. we had taken the original 16

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gyms and it's at the highest point it's ever been. And we're at our

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board meeting and at the end of the year, and I feel like a

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million bucks. And I'm with— I mean, we're like, I think just getting a glass

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of wine with Bob and Bruce. And Bruce

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says, you know, hey, are we gonna keep

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opening like 2 or 3 gyms a year? Because

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I'm 60-something and this is going to take a really long

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time to make this investment anything if we're going to keep doing this.

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And I was like, geez, that's a,

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that's a different way of looking at this thing. I mean, I'd never opened up

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more than 3 gyms ever in a year, right? Yeah. So I was feeling great.

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And so at that point, he's really just

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ingrained in me the importance of real estate. And I had a

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great team, still have a great team, and they knew exactly what they were

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doing. And so I just went to them and said, hey, Hey, guys, I'm

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going off on this journey here to figure this real estate thing out. You got

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this. And, off I went and they crushed it on their

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end. And, hopefully, I figured it out pretty well on my end. And,

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that was really the beginning of our sort of trajectory of going up.

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Yeah. Speaking of real estate, I remember you and I had a conversation many

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years ago and you devoted a lot of time to educate the

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real estate developers and and the REIT market

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and groups that were opening up big centers, power centers, and said, you

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know, I want to be your anchor tenant. How did— how long did that

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take? How, you know, were you in the right place at the right time with

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the right size box, with the right balance sheet? How did that kind of

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evolve? Because, you know, some of it's like networking and personality

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and, you know, trust. And some of it's like, hey, you know, there's, there's a

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lot of development. And, you know, LA Fitness wasn't, you know, the belle of the

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ball anymore. Lifetime wasn't building boxes that would

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fit into those types of centers, and EOS kind of became like the

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go-to, you know, anchor tenant. How did that kind of evolve?

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It's just that it evolved, right? I mean, we, you know, lots of

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times on airplanes and vans and selling

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these developers and landlords and REITs the dream of who we were going to be

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one day. Yeah. And obviously we had some smaller

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you know, uh, you know, 2-gym, 3-gym openings and performance. But ultimately,

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like you said, we weren't first choice by any stretch of the imagination early

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on, and we didn't have a balance sheet that was blowing people away,

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right? And so it really just took a lot of relationship building and

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trust. And I'm always very appreciative of all those landlords and

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REITs who we work with today with just cookie-cutter deals, that they did take

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a chance on us back then And, um,

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yeah, it was just a, a lot of work, a lot of time. And it—

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I think it really didn't really flip until a few years ago,

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and where really you stopped having to tell the story and it really just became

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more about specific deals and, and how you're going to do—

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how you're going to do it. And it— that took a while too. I mean,

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you— when you look at real estate, to stay disciplined and do your deal and

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not worry about losing a deal necessarily because

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In the end, there's a deal across the street. There's a deal

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a mile away. And so I used to chuckle when I heard people say that

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we would stretch for deals because they thought we were because they were trying to

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figure out how we were getting it. It's like, well, no, you're paying more rent

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and you got less TI. And

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right. And then, then we were getting— and ultimately, if it's not our deal, we're

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going to step back. If it is our deal, we're going to do it. And

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if you get it, you get me on one, I'll get you on the other.

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And you just have to be disciplined to realize it's not a— you're not playing

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basketball here. You're signing $50 million leases.

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Yeah. You know, one of the things that struck me, and obviously

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I'm an ex kind of Gold's guy, you know, I was at the private equity

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fund back in '99. We did the deal, the original deal. And, you

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know, Dave Reisman used to be like the marketing assistant

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to Derek Barton. And, you know, Ginger Rogers was running like the

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GGFA. Mike Epstein was like my best friend, you know, who I could

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hang out with when I went to Paramus. you recruited all

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these people, you know, from, from the industry. And I think,

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you know, I see headlines. I don't want to like point anybody out, but, you

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know, bring some guy in from a coffee chain, bring some guy in from, you

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know, like a home improvement chain. And, you know, you kind of said, hey

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man, like, I know how to run this play. I know the team I need.

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I, you know, I gotta, you know, whether it's a soccer team, I got 11

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people and I actually can earmark who those 11 people are. How much has your

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experience in relationships kind of built the infrastructure

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of like this expanded base of players?

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Uh, it's everything. I mean, that absolutely— I mean, that's how I was able to

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get these people with relationships. Um, you know, being a gym rat, I think it's

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important in our space, Pete. I think we've seen it, like you said. There's— I'm

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not saying there's exceptions to the rule because I'm sure there's exceptions to the rule

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out there of an outsider coming in and being able to do what we do,

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but man, I don't know it off the top of my head. Yeah. Um, but

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we both can tell you a whole laundry list of those that don't. And it's

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just, I think it's different than running a restaurant. It's different than running a hotel.

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Um, there's a lot of nuances to it, and there's a lot of

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things that intuitively, if you're an outsider,

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you want to go chase, like attrition, right? You come in, it's like, why do

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I need to sell one more? I'll just save one more. So I'm

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gonna take all my money out of marketing and I'm gonna put it all into

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saving members and off to BK they go. Yeah,

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yeah. And, and so I think having the

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experience helps the day-to-day decision, the strategy.

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Having, you know, the fact that we've had one team this entire run

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has been a huge part because it's not just me, right? It's the fact that,

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you know, our CMO, our COO, our CRO, our VP of Sales, our

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VP of— I mean, everyone's the same. Yep. Is, is a, is a

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huge part

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This is Pete Moore. Here's the last tip for you of the podcast.

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We are partnered up with a company called HigherDOSE,

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309
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saturating your market, having your members walk outta the club and going

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316
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happy, healthy, and sweating, and the recovery should be

317
00:19:45,225 --> 00:19:46,265
just as good as the workout.

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How has bringing in TSG as a new

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00:19:54,532 --> 00:19:58,217
partner I think it was $1.5 billion was the

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00:19:58,217 --> 00:20:00,939
announced valuation of the company, which is amazing.

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Obviously, private equity, for people listening to this, for them to

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00:20:05,949 --> 00:20:09,185
make a return, you got to double or triple the size of the business.

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And there aren't that many 500-unit health club

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chains that are successful in North America. So how do you kind

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of manage growth, manage

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private equity expectations, and have fun doing

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00:20:24,530 --> 00:20:28,158
it, you know, and go into markets that, that you're like, hey, this, this fits,

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and I'm gonna go and take over this. I'm not gonna go put a couple

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00:20:30,550 --> 00:20:33,841
clubs in Houston. I'm not gonna go put a couple clubs in Dallas. I'm likely

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to go and blanket these markets. Yeah, well, I think it starts

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with, you know, we were in a great situation when we went to market

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that we didn't have to sell, and we were able to kind of pick

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who we wanted to partner with. And it was an interview process both

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ways. And because of that, we

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were able to have our cake and eat it too. I mean, we, we, you

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know, TSG had done a fantastic job building relationship with us over the

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years. We knew who they were. This was a long journey, and

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ultimately, um, we knew we were aligned.

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And when I say that, I'm talking about, you know, like, I work with, you

340
00:21:10,253 --> 00:21:14,013
know, Michael Lehman and, and Adam and Alec

341
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and Jordan. They have these teams and they, they they blew me away with not

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just their, their IQ, which I expected them to have.

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They blew me away with their EQ. Mhm. And

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being— knowing how to work with management teams. And, you know, I was able to

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talk to like the Rondos of the world because they worked with Planet Fitness. They—

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from 400 gyms to 1,200 gyms, they, you know, they, they did it. And

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00:21:35,603 --> 00:21:39,439
they were very open to talk to their other CEOs and get to know

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them. And ultimately, I'm a You know, am I

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hardheaded? Probably a little bit, right? And

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I'm used to having that autonomy to be able to work decisions. And it was

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really important to have a partner that would support us and at the same time

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allow me to, and our team, to run our business. And so

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I feel like I'm pretty spoiled because I had BRS, who was just, again, I

354
00:22:01,590 --> 00:22:05,266
love Bruce Bruckman. I love Bob Rashad. Lifelong friends

355
00:22:05,298 --> 00:22:09,102
forever, right? And now I'm lucky enough I have this TSG Group who

356
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Just want to support, just want to be helpful and add value. And

357
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they came at the right time because, Pete, little mistakes are big

358
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now. Because it used to be 30 to 40 gyms, you make this

359
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move and it costs you $100 grand. Yeah. Now you make that move

360
00:22:25,094 --> 00:22:28,691
and it just costs you $2 million. Right. And they've got the

361
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support in finance and AI and IT and

362
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legal and all these different spots to where There's an army for

363
00:22:36,190 --> 00:22:39,885
us to tap into, and it, it's, uh, you know, not only

364
00:22:39,885 --> 00:22:43,275
just sort of saving us money by having these resources at our fingertips,

365
00:22:43,660 --> 00:22:47,420
it's just helping us making better decisions, um, with

366
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more better information before we do it. Yeah, I

367
00:22:51,340 --> 00:22:54,890
mean, one of the things that's, that's apparent about what you're building

368
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is you seem to be— whatever the trend is, you guys are already kind of

369
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on top of it, whether it's like allowing people to do You know,

370
00:23:02,703 --> 00:23:06,538
videos of themselves and, you know, posing rooms. You know,

371
00:23:06,910 --> 00:23:10,583
a lot of people say, I don't want anybody taking any videos because that's a

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risk to me. You know, you got people that are,

373
00:23:14,933 --> 00:23:18,482
you know, pulling things out instead of putting things in. So

374
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how do you kind of look at a box and say, you know, I'm

375
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going to overload this, but I know how to manage that and I'm

376
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not nervous about adding things instead of subtracting?

377
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I think you have to have— you have to know who you are,

378
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and then you can run right at that. I think that's the key, is

379
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that we've, we've had a vision, we know who we are,

380
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and we don't get— if it matches us, then we, then

381
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we do it and try it. And if it doesn't, we stay away. I'll give

382
00:23:50,154 --> 00:23:53,380
you a couple examples that are public information, right? Sure. Like, I think we all

383
00:23:53,429 --> 00:23:56,915
know, if you think of, um, Let's use Lifetime.

384
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You know, Brom does a great job. He's openly said, I

385
00:24:01,756 --> 00:24:04,738
believe— I'm not trying to quote him, he didn't tell me these words, but this

386
00:24:04,738 --> 00:24:07,462
is how I hear it— they're a country club without a golf course.

387
00:24:08,921 --> 00:24:12,255
So when pickleball becomes a trend, what does he do?

388
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He doubles down and goes all in, and he's crushing it with it. It was

389
00:24:16,759 --> 00:24:20,430
brilliant. Now, I'm not saying he didn't lean more in his strength, or

390
00:24:20,446 --> 00:24:23,043
Lifetime didn't lean a little bit more in his strength, but they didn't go down

391
00:24:23,075 --> 00:24:26,688
that crazy rabbit hole that far, if they did at all.

392
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And so I think they know who they are, and they've— they made— and

393
00:24:31,748 --> 00:24:35,378
pickleball made sense. Most recently, I think Planet did a

394
00:24:35,442 --> 00:24:38,959
good job acknowledging they went too far down the strength rabbit hole.

395
00:24:39,473 --> 00:24:42,959
They got tempted by sort of Generation Alpha and where they were

396
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going, and not with the brand that they had built for

397
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3 decades around being

398
00:24:51,022 --> 00:24:53,093
the, uh, the people who didn't want to go to the gym but knew they

399
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had to go to the gym. And they did so much work on that— the

400
00:24:55,678 --> 00:24:59,355
pizza on Fridays, the donuts on Mondays, everything they could do to build a brand

401
00:24:59,387 --> 00:25:02,213
that was very inclusive for people who weren't gym rats.

402
00:25:03,144 --> 00:25:06,612
And, you know, I think they're right back on the right track again. But that's

403
00:25:06,612 --> 00:25:08,989
how you can be tempted, I think, to go down

404
00:25:10,145 --> 00:25:12,810
trends. So I, I guess what I'm saying to you, Pete, I think it's more

405
00:25:12,810 --> 00:25:16,268
important to know who you are And make sure that you

406
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stay disciplined to the trends that make sense to your brand

407
00:25:20,620 --> 00:25:23,395
and not just go with the flavor of ice cream of the day that's going.

408
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Because I've seen more gyms lose their identity

409
00:25:27,874 --> 00:25:31,561
trying to be like us, and we've lost nothing,

410
00:25:31,755 --> 00:25:35,358
and they've lost who they are, right? Yeah. And so really,

411
00:25:35,390 --> 00:25:38,831
that's, you know, my, my thing is just have, have a plan,

412
00:25:39,090 --> 00:25:42,761
have a strategy, know who you are. and then double down on that. And

413
00:25:42,841 --> 00:25:46,356
ultimately, there's a big pie out there. There's a lot of members for everybody.

414
00:25:47,014 --> 00:25:50,802
Yeah. So, you know, as you look at, you know, take your crystal

415
00:25:50,802 --> 00:25:54,413
ball over the next couple years, is there anything that you're

416
00:25:54,413 --> 00:25:57,590
concerned about? You know, I always tell people irrational

417
00:25:57,606 --> 00:26:01,282
development has been, you know, one of the biggest issues in this industry.

418
00:26:01,779 --> 00:26:05,535
Um, I think there was a time when people were concerned about, you

419
00:26:05,551 --> 00:26:09,220
know, boutique studios taking The business away, I think that's probably

420
00:26:09,220 --> 00:26:12,640
kind of played itself out. And, you know, I'd say we won. The

421
00:26:12,640 --> 00:26:15,960
boxes have won, or the health club operators have

422
00:26:15,960 --> 00:26:19,800
won. Yeah. I think workout recovery, the health clubs will win.

423
00:26:19,940 --> 00:26:23,130
There's not a reason to have a standalone recovery,

424
00:26:23,920 --> 00:26:27,600
you know, 3,000-square-foot, you know, studio next to

425
00:26:27,600 --> 00:26:31,360
an EOS or next to another location. It's not gonna get the traffic and you

426
00:26:31,360 --> 00:26:35,160
can bundle it in. So in closing here, we already got

427
00:26:35,160 --> 00:26:37,160
some great quotes and some stories here, but

428
00:26:39,129 --> 00:26:42,583
Anything that you want to share, you know, as a quote or anything that you

429
00:26:42,599 --> 00:26:45,908
live by or something that your team's like, that's a, you know, it's a

430
00:26:45,973 --> 00:26:49,250
Drenbergism? Oh boy. They

431
00:26:49,266 --> 00:26:52,302
might be a little bit better off

432
00:26:53,025 --> 00:26:56,800
giving you those than me for sure. You know, listen,

433
00:26:57,041 --> 00:27:00,768
I would say if there's something that I look for is, you know, for

434
00:27:00,768 --> 00:27:04,608
my job is I like to make things better as a

435
00:27:04,608 --> 00:27:08,093
CEO. solve problems, and then

436
00:27:08,462 --> 00:27:11,658
kind of watch what the kids are doing in the gyms to see what the

437
00:27:11,658 --> 00:27:15,046
next trends are. So those are really my 3 focuses as a CEO,

438
00:27:15,431 --> 00:27:18,322
along with all the other stuff that goes along with it. But that's probably what

439
00:27:18,322 --> 00:27:21,919
I have the most fun with. All right, well, look, I'm glad everything

440
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worked out the way it did. Congrats on the success, uh, you've earned it.

441
00:27:25,708 --> 00:27:29,514
And, um, it's a great story and a great business that you guys

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00:27:29,514 --> 00:27:32,758
have built, and, uh, one that we could all be proud of in the industry.

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00:27:32,806 --> 00:27:36,483
So wave the Halo flag. There's no— if there's no Pete, no Halo,

444
00:27:36,579 --> 00:27:39,791
no, no EOS, right? Like, that deal never happens.

445
00:27:40,240 --> 00:27:43,997
Richard Pyle did. Peggy used to work for Richard Pyle, by the way. So

446
00:27:44,013 --> 00:27:47,594
that's how that connection came to be as well. Thank you, Pete. So thank you.

447
00:27:47,947 --> 00:27:51,624
All right, man. Well, appreciate you coming on. This has been The Exclusive with Rich

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00:27:51,656 --> 00:27:54,001
Trenberg.

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00:27:59,443 --> 00:28:03,197
This is Pete Moore on Halo Talks,

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your captain speaking. I am the founder and managing partner at Integrity

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00:28:06,903 --> 00:28:10,529
Square. We've been around now for 15 and a half

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00:28:10,577 --> 00:28:14,266
years. We have been helping people like yourselves get

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00:28:14,266 --> 00:28:17,715
capital, do mergers and acquisitions, consulting, strategic

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00:28:17,715 --> 00:28:21,116
advice in the health, active lifestyle, and outdoor

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00:28:21,405 --> 00:28:24,838
halo sector, trying to help as many entrepreneurs as

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00:28:24,870 --> 00:28:28,412
possible get to the next level and take that inflection point

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00:28:28,893 --> 00:28:32,563
and be the force behind your growth. We are helping companies that are—

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00:28:32,563 --> 00:28:36,136
have at least $3 million of EBITDA, around $10

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00:28:36,168 --> 00:28:39,918
million of revenue, and we are positioned to help you get

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00:28:39,950 --> 00:28:42,947
institutional growth capital or to

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00:28:43,059 --> 00:28:46,264
negotiate deals with strategic partners. If you go to

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00:28:46,264 --> 00:28:49,292
integritysq.com/ISQ, you can see

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00:28:49,725 --> 00:28:53,249
our capabilities deck. Happy to set up a consultation at any

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00:28:53,314 --> 00:28:56,818
time. That is free of charge, and we look forward to

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00:28:56,947 --> 00:29:00,788
helping solve obesity, loneliness, and diabetes.

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Go Halo!