Altafit Acquired by VivaGym for Over €150 Million
Deal News | Nov 12, 2024 | Finance Community ES 2 - Corporate M&A
VivaGym, a company backed by Providence Equity Partners, has reached an agreement with investment fund MCH to acquire Altafit, a Spanish low-cost gym chain. This strategic purchase, exceeding €150 million, includes 70 operational gyms across Spain and eight additional centers in pre-sale. The acquisition marks a significant step in the consolidation of the low-cost gym sector in Spain, creating the second-largest fitness operator in the country, boasting nearly 200 gyms and 350,000 members. With this acquisition, VivaGym will expand its presence to a total of 192 centers in Iberia, including 151 gyms and 15 more in the process of opening in Spain, and will operate an additional 41 gyms in Portugal, bringing its total to 207 gyms across the peninsula, serving nearly 500,000 members. This move underscores VivaGym's strategic growth ambitions in the Iberian fitness market, solidifying its position as a leading player.
Sectors
- Fitness and Wellness Industry
- Private Equity and Investment Management
Geography
- Spain – The primary geography is Spain, where the acquisition targets most of the gym locations.
- Portugal – Portugal is relevant as part of the acquired gym operations are located here.
- Iberia – The entire transaction impacts the Iberian Peninsula, encompassing Spain and Portugal, emphasizing the regional expansion.
Industry
- Fitness and Wellness Industry – The acquisition concerns the fitness and wellness industry as it involves a significant deal in the consolidation of a gym chain in Spain.
- Private Equity and Investment Management – Providence Equity Partners, a private equity firm, plays a major role in the acquisition, highlighting the investment aspect of the transaction.
Financials
- €150 Million – The acquisition deal value for the purchase of Altafit by VivaGym.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| VivaGym | Purchasing Company | Company | VivaGym is a fitness operator purchasing Altafit to expand its market share in the Iberian Peninsula. |
| Providence Equity Partners | Private Equity Firm | Company | Providence Equity Partners is the private equity firm backing VivaGym in its acquisition of Altafit. |
| Altafit | Target Company | Company | Altafit is a low-cost gym chain in Spain, which is being acquired by VivaGym. |
| MCH Private Equity | Selling Company | Company | MCH is the investment fund selling the Altafit gym chain to VivaGym. |
| Manuel Carrera | Participant | Person | Manuel Carrera is a partner involved in the transaction. |
| Vicente Blanco | Participant | Person | Vicente Blanco is a Senior Manager involved in the transaction. |
| Adrian Mata | Participant | Person | Adrian Mata is an Associate involved in the transaction. |