Report: 24 Hour Fitness Looking to Sell, For $2 Billion

A private equity firm has put San Ramon-based  on the auction block and are looking for about $2 billion for the fitness center giant, the San Francisco Chronicle reported Thursday.

Fortsman Little, the firm that owns 24 Hour Fitness, is going out of business after it founder Ted Forstman died last November.

If $2 billion sounds like too big a price tag, maybe not. The Chronicle reports: 

...The $2 billion shouldn't be too hard to attain, given that the company has more than 419 outlets in the United States and Asia, including 60 in the Bay Area and Northern California, and is a veritable cash machine.

24 Hour Fitness currently has 3.8 million members, 22,000 workers and is bringing in about $1 billion in revenue a year.

Do you have 24 Hour Fitness membership? Are you happy with their service? Could new ownership entice you to become a member, or are you happy at your current gym? Concerned this might mean 24 Hour Fitness will leave San Ramon? Tell us in the comments section.