ST. PETERSBURG – Local business leaders Michael and Beth Vivio are the new owners of Corporate Fitness Works.
CFW offers wellness solutions to more than 80 companies such as Sprint, American Strategic Insurance and Tech Data in 24 states, through health and wellness programming, among other services. This includes working with employees to address their personal health and fitness needs, as well as employer challenges with health-related costs and talent retention.
The St. Petersburg-based company, which launched in 1988, had $15.7 million in revenues last year.
Terms of the deal were not disclosed.
Michael Vivio may be best known as the former CEO of Valpak Direct Marketing, the St. Petersburg-based direct mail company, and publisher of the Austin American-Statesman in Austin, Texas. He said that after he left Valpak last year, he didn’t want another corporate job and wanted to stay in the area.
"Beth and I made the decision as a family to look for a company to buy and operate, one that has a very stable base, one that has a fantastic product that we can believe in and one that offers opportunity for us to apply our talents and go all in," he said in an interview with the Tampa Bay Times.
"For both of us, it was really important that we found a company that we believe in the mission," Beth Vivio added.
She previously was executive director of a 13-county Girl Scout council in Texas that served more than 6,000 girls and 1,600 volunteers. The company’s women-owned status will be continued with Beth Vivio retaining majority ownership.
CFW was founded by Brenda Loube and Sheila Drohan. Loube will continue working with the company’s transition while maintaining its relationship with the Women’s Business Enterprise National Council. Drohan will serve as a consultant for CFW.
"Sheila and I are extremely proud of what we’ve built from scratch, and the amazing team that helped get us to where we are today," Loube said. "Our people are our greatest asset, so it was a priority to sell the company to people who value our culture and services. The Vivios were a natural fit for us."
The transition in ownership was effective Aug. 1. CFW’s name, services and team will stay the same.
Michael Vivio predicted "aggressive growth" for CFW, but did not elaborate.
Contact Hannah Denham at [email protected] Follow @hannah_denham1.