VivaGym Becomes Spain's Second Largest Gym Operator
Deal News | Nov 13, 2024 | Iberian Lawyer
VivaGym, a subsidiary of Providence Equity Partners, has announced the acquisition of the Spanish gym chain Altafit for over €150 million. This strategic acquisition includes 70 fully operational gyms in Spain and 8 in the pre-sale phase. As a result, VivaGym solidifies its position as the second largest sports operator in Spain, with a total of 207 gyms across the Iberian Peninsula and a burgeoning membership base nearing 500,000. The transaction highlights continued consolidation in the low-cost gym sector in Spain. Deloitte Legal assisted Providence Equity Partners with legal considerations for the deal.
Sectors
- Fitness and Wellness
- Private Equity & Investment
- Legal Services
Geography
- Spain – The primary location of the gyms involved in the acquisition is Spain, where VivaGym aims to consolidate its position in the gym market.
- Portugal – Part of the broader geographical region of the Iberian Peninsula, Portugal is where VivaGym operates a number of gyms, adding to their reach in Iberia.
Industry
- Fitness and Wellness – This industry includes health clubs, gyms, and fitness centers, focusing on providing exercise facilities and wellness services. The acquisition of Altafit is directly within this sector as it involves gym chains.
- Private Equity & Investment – This industry involves firms that provide capital and take ownership stakes in operating companies. In this case, Providence Equity Partners’ acquisition of Altafit represents a typical PE deal within the private equity investment industry.
- Legal Services – This industry covers the provision of specialized legal advice and representation. Deloitte Legal provided advisory services for the acquisition, showcasing the role of legal services in M&A transactions.
Financials
- >€150 million – Deal Price: The acquisition of Altafit by Providence Equity Partners through VivaGym is valued at over €150 million.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| VivaGym | Bidding Company (Buyer) | Company | A subsidiary of Providence Equity Partners, VivaGym is acquiring Altafit to expand its operations in the low-cost gym sector in Iberia. |
| Providence Equity Partners | Private Equity Firm | Company | An investment firm that owns VivaGym and is facilitating its acquisition of Altafit to strengthen its market position in the gym sector. |
| Altafit | Target Company | Company | A Spanish gym chain being acquired by VivaGym, contributing to the expansion plans in the Iberian Peninsula. |
| MCH | Selling Company (Vendor) | Company | An investment fund that has agreed to sell the gym chain Altafit to VivaGym. |
| Deloitte Legal | Legal Advisor | Company | The firm providing legal advisory services to Providence Equity Partners and VivaGym for the acquisition of Altafit. |