Orange and Egosistema: VAM Investments' Latest Acquisition

VAM Investments, a prominent Italian private equity firm, has finalized its acquisition of the Orange and Egosistema fitness groups, creating a new entity called Gym Nation Italia. The deal, first announced in November, was supported by a coalition of banks including Banco BPM, Banca Popolare di Sondrio, Banca IFIS, Banca del Fucino, illimity, and Banca Sella. The complex transaction involved a variety of advisory and due diligence teams. EQUITA Mid Cap Advisory and Finerre served as M&A advisors, with financial due diligence handled by EY and Grant Thornton, and various other due diligence aspects covered by firms like EY Parthenon and Molinari Agostinelli. Legal structuring was overseen by Legance, with debt advisory from Fineurop Soditic. Orange is the leading fitness center operator in Turin, known for its flexible membership model, while Egosistema operates 11 centers with 26,000 members across Italian cities such as Rome, Milan, and Bologna, offering mid-market to premium fitness options.