From Restaurants to Reps: New CEO to Scale VASA Fitness Growth

GREENWOOD VILLAGE, CO – March 31, 2026 – VASA Fitness, a major player in the high-value, low-price (HVLP) gym sector, has appointed seasoned consumer brand executive Michael Osanloo as its new Chief Executive Officer. The move signals a strategic pivot towards accelerated growth, with Osanloo taking the helm from Rich Nelsen, who retires after an impactful eight-year tenure that transformed the company’s scale and identity.

Osanloo, who comes to VASA after leading restaurant chains Portillo's and P.F. Chang's through periods of significant expansion, is tasked with navigating the next chapter for the rapidly growing fitness brand. His appointment comes at a time when the HVLP fitness market is both booming with demand and crowded with fierce competitors, making strategic leadership more critical than ever.

A Recipe for Scaling a Consumer Brand

Michael Osanloo brings a formidable resume in scaling beloved consumer brands, a skill set VASA's backers are betting will translate from the world of fast-casual dining to fitness. Most recently as President and CEO of Portillo's, he orchestrated the Chicago-style hot dog chain's aggressive national expansion and steered it through a successful initial public offering (IPO) in 2021. Prior to that, as CEO of P.F. Chang's, he oversaw a global enterprise with more than 300 locations, driving its international footprint. His career also includes senior roles at Kraft Heinz and Caesars Entertainment, as well as a decade as a Partner at consultancy giant Bain & Company.

This experience in high-growth, operationally complex environments is precisely what VASA's ownership was seeking. "Michael is a highly accomplished operator with a track record of scaling category-defining consumer brands and delivering sustained, profitable growth," said Dan Gill, Managing Partner at Silver Oak Services Partners, the private equity firm that has backed VASA since 2014. "He brings a unique combination of strategic rigor, operational excellence, and a deep commitment to people and culture."

At Portillo's, Osanloo was known for his focus on disciplined development and simplifying operations to drive consistent traffic and value. His leadership style, which he has described as that of a "passionate servant leader," emphasizes empowering teams and fostering a strong culture—principles that align with VASA's mission. Osanloo himself acknowledged the strong base he inherits. "I'm honored to join VASA at such an exciting time in its journey," he stated. "Rich has built a strong foundation, and I have great respect for what he and the team have accomplished."

Flexing in a Crowded Fitness Arena

Osanloo joins a company that has already carved out a distinct identity in the fiercely competitive HVLP fitness landscape. VASA operates on a "mall of fitness" model, differentiating itself from rivals like Planet Fitness and the rapidly expanding EōS Fitness. While competitors often focus on a more streamlined, no-frills approach, VASA clubs offer a vast array of amenities under one roof—from top-of-the-line strength and cardio equipment to basketball courts, pools, and KidCare services—all while maintaining an accessible price point starting as low as $14.99 per month.

This model is designed to appeal to a broad demographic, from novice gym-goers to seasoned fitness enthusiasts. Under the leadership of his predecessor, VASA further enhanced this model by introducing boutique-style studio classes—STUDIO RED (HIIT), STUDIO FLOW (hot yoga), and STUDIO LFT (strength training)—effectively offering the experience of multiple specialized studios within a single membership.

The challenge for Osanloo will be to leverage this differentiated model for accelerated growth. With backing from Silver Oak Services Partners, which has a stated thesis of expanding VASA into a leading chain in the Western United States and beyond, the pressure to open new clubs and capture market share will be immense. Osanloo’s experience in managing rapid, multi-state rollouts and optimizing new unit economics will be directly applicable as VASA continues its push into new and existing territories across its current eight-state footprint.

Honoring a Legacy of Culture and Growth

While Osanloo's arrival heralds a new era, it is built upon the significant legacy of outgoing CEO Rich Nelsen. During his eight years, Nelsen oversaw VASA's explosive growth from 26 to 71 locations. He was the architect of the brand's boutique studio concepts and cultivated an internal culture that earned the company Great Place to Work® certification for three consecutive years. Under his watch, the company grew to more than 5,200 employees, with internal surveys showing a high degree of team member satisfaction.

Nelsen, who previously spent 13 years in senior roles at Starbucks, successfully applied lessons from the world of premium coffee to affordable fitness, focusing on customer experience and community building. This focus on creating an inclusive, welcoming environment has been a cornerstone of VASA's brand identity and a key factor in its success.

The transition poses a classic leadership challenge for Osanloo: how to inject his own brand of aggressive, data-driven growth without diluting the people-centric culture that Nelsen so carefully cultivated. Maintaining this balance will be crucial for retaining both talented employees and loyal members as the company scales.

"VASA is a truly differentiated brand in a dynamic and growing industry," Osanloo commented, signaling his intent to build upon, rather than replace, the existing framework. "I'm excited to work alongside the team to build on that momentum and lead the company into its next phase of growth." As VASA looks to the future, it will need to integrate new trends like AI-powered training, advanced recovery amenities like cold plunges and saunas, and connected fitness technology to stay ahead. Osanloo's challenge is to execute this evolution while ensuring VASA remains the fun, innovative, and affordable fitness destination that millions have come to rely on.