FSN Capital has signed an agreement to acquire Fitness World A/S from its founders and management, following an exclusive process. Founders and management will invest alongside FSN Capital and remain significant shareholders going forward.
Fitness World is the undisputed market leader in the Danish fitness market. The company has 450,000 members in Denmark spread across 152 clubs and a presence in Poland with 3,000 members across 5 clubs.
Founded in 2005, Fitness World has been a key driving force of the Danish fitness market over the past decade, and developed an exceptional leadership position with sales of c. DKK 1 billion.
Based in Copenhagen, Denmark, the company employs more than 3,300 people. Offering large, well-invested clubs and a broad array of group training classes at competitive prices, Fitness World has delivered sales and EBITDA growth of 29% and 25% CAGR over the last 5 years respectively. For more information, please visit: www.fitnessworld.dk
"Fitness World is not just another fitness operator, it has a solid market position in one of the world's most developed fitness markets, with clear cost leadership, a strong brand and continued tangible growth prospects in Denmark, coupled with an exciting potential roll-out of the concept in Poland", says Thomas Broe-Andersen, Partner at FSN Capital Partners.
Founder of Fitness World, Henrik Rossing, says: "We are excited by this new phase for Fitness World and we believe that in FSN Capital, we have found the right partner to internationalize and further professionalize Fitness World.
Deloitte, Kromann Reumert and Quartz&Co acted as advisors to FSN Capital in connection with the transaction. Financing is arranged by Danske Bank.
The transaction is subject to inter alia regulatory approvals from competition authorities.
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