Harris Williams Advises Fitness World on its Pending Sale to PureGym
December 12 2019 - 09:51AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces that it is advising Fitness
World, a portfolio company of FSN Capital, on its pending sale to
PureGym, a portfolio company of Leonard Green & Partners (LGP)
and the UK's largest gym operator. Fitness World is a leading
fitness operator in Europe. The transaction, being led by Ed Arkus,
Danielius Uznys and Krishna Patel of the Harris Williams Consumer
Group, extends the firm’s experience in the fitness space. Recent
Harris Williams fitness transactions include advising PureGym on
its sale to LGP, Taymax on its sale to Trilantic North America and
Impact Fitness on an investment by Morgan Stanley Capital Partners,
among other transactions.
“We are delighted to have worked alongside Fitness World’s
shareholders and management team on this transaction. CEO Steen
Albrechtslund and his team have firmly established Fitness World as
the largest operator in Denmark, while building a pan-European
presence through expansion in Poland and Switzerland,” said Ed
Arkus, a managing director at Harris Williams. “Fitness World’s
partnership with PureGym represents a hugely exciting phase for
both businesses and we look forward to following their next chapter
together.”
Fitness World is the largest fitness provider in Denmark, with
operations in both Switzerland and Poland. Founded in 2005, it has
grown to become one of Europe’s leading value fitness providers,
with over 230 gyms and more than 600,000 members. Fitness World
sites offer members affordable, flexible and high-quality fitness
facilities, most of which are available 24/7. Opening its first
site in Copenhagen, Fitness World has increased its market share of
the European value market both organically and through the
acquisition of Condizione in Poland in 2015 and then Basefit in
Switzerland in 2018. In addition to its international estate of
gyms, Fitness World also has its own sports nutrition brand,
Functional Nutrition, and bespoke member fitness app.
Established in 1999, FSN Capital is a leading private equity
advisor in the Northern European region with more than €2 billion
under management. FSN Capital focuses on making control investments
in companies operating in the Northern European region with
enterprise values between €50 million and €300 million.
PureGym is the UK's largest gym operator, providing low-cost and
high-quality fitness facilities for over one million members spread
across 253 sites (with an additional 10 sites expected to open by
the end of this year). PureGym was launched in 2009 and pioneered
the model for affordable, flexible, high-quality fitness clubs in
the UK. Members pay monthly and have no contractual commitment.
Most of its gyms are open 24/7 and offer a full range of
top-of-the-line equipment, including cardiovascular equipment,
fixed-resistance and free weights.
Founded in 1989 and based in Los Angeles, LGP partners with
experienced management teams and often with founders to invest in
market-leading companies. Since inception, LGP has invested in over
90 companies in the form of traditional buyouts, going-private
transactions, recapitalizations, growth equity and selective public
equity and debt positions. LGP primarily focuses on companies
providing services, including consumer, business, and healthcare
services, as well as retail, distribution, and industrials.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Consumer Group has completed more than 60
transactions in recent years across a variety of verticals,
including branded consumer products; consumer services; food,
beverage and agribusiness; and restaurant and retail. For more
information on the Harris Williams Consumer Group and other recent
transactions, visit the Consumer Group’s section of the Harris
Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
For media inquiries, please contact Katie Langemeier, associate
brand manager, at +1 (804) 915-0179.
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version on businesswire.com: https://www.businesswire.com/news/home/20191212005480/en/
Katie Langemeier, associate brand manager, +1 (804) 915-0179
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