Active IQ
Active IQ
Active IQ
Health Club Management

Health Club Management

Follow Health Club Management on Twitter Like Health Club Management on Facebook Follow Health Club Management on Google+ Join the discussion with Health Club Management on LinkedIn Subscribe to Health Club Management Get RSS alerts from Health Club Management magazine
Get the latest news, jobs and features in your inbox
Health Club Management

Health Club Management

News

Portuguese market leader Fitness Hut sold to Viva Gym

We’re very excited about the opportunity for low-cost fitness in Iberia and we look forward to working with our new partners to become the undisputed market leader in Spain and Portugal
– Nick Coutts, CEO, Fitness Hut

Spanish firm Viva Gym has announced the acquisition of Portuguese brand Fitness Hut, creating the largest low-cost fitness group in the Iberian Peninsula.

The sale of Fitness Hut means Viva Gym will grow to almost 200,000 members, with the groups’ combined revenues totalling more than €50m ($60.18m, £44.49m).

The combined group – which will be led by Viva Gym CEO Juan del Río Nieto, and will continue to operate under two separate brands – will initially have 48 sites.

Fitness Hut has 31 clubs, providing gym facilities and nutritional services to 110,000 members, and running 3,300 fitness classes a week.

“We’re very excited about the opportunity for low-cost fitness in Iberia and we look forward to working with our new partners to become the undisputed market leader in Spain and Portugal,” said Nick Coutts, CEO and co-founder of Fitness Hut.

Coutts, who first revealed plans to enter the fast-growing Spanish market in an interview with Health Club Management in September, said the deal represents “the next stage of growth” for his business.

In the interview, Coutts said: “We've had discussions about going to Spain, so that's quite likely. I’m realistic – there’s going to be continued consolidation over the next couple of years, and I imagine we’ll be part of that.

“But even if we’re acquired, it would be great if Fitness Hut brand could live on and be grown rather than be rebranded.”

The groups both launched in 2011, with Viva Gym founded by private equity firm Magenta Partners.

In 2015, Bridges acquired a majority stake in Viva Gym. The firm, which was responsible for launching the Gym Group, has also recently invested in Impact Fitness.

The sale of Fitness Hut was advised by Clearwater International and was made possible by an investment by Bridges, plus a co-investment from Magenta Partners, Hermes GPE and two other, unnamed, businesses.

Fitness Hut’s founding investor Edge Capital and subsequent investor Oxy Capital will exit as part of the deal.

Gareth Iley, partner and head of consumer at Clearwater International, said: “This cross-border transaction brings together two strong companies with exceptional management teams, to form an unrivalled Iberian market leader.

“With the increasing consumer demand for convenient, low-cost gyms that still maintain high quality, the growth potential is vast and we look forward to seeing this partnership thrive.”

Bridges investment director James Hurrell added: “There’s a clear opportunity for the two brands to improve their offering by sharing knowledge and best practice, and committed funding is in place to deliver an accelerated growth plan.”

Sign up for FREE ezines & magazines
Spanish firm Viva Gym has announced the acquisition of Portuguese brand Fitness Hut, creating the largest low-cost fitness group in the Iberian Peninsula.
HAF,PHR
Fitness Hut runs 3,300 fitness classes a week but the deal means it will become part of a bigger operation across Portugal and Spain
Dyaco International
Dyaco International

News

Mark Verstegen, founder and CEO of human performance specialist EXOS, has said that health clubs
Fitness tech firm Myzone has signed a deal with Snap Fitness which will see the
Global fitness company Les Mills has launched a search for an experienced manager to lead
American fitness giant Core Health & Fitness has signed a strategic partnership with Danish tech
Boutique fitness operator Boom Cycle will launch its fifth site next year. Scheduled to open
David Lloyd Leisure (DLL) will invest more than £15m in rolling out its new hi-tech,
Focus Training
Focus Training
Mark Verstegen, founder and CEO of human performance specialist EXOS, has said that health clubs
More than £346m in "wasted" childcare funding should be used to get children more active
A new boutique fitness concept has entered the booming London fitness market today (18 September).
Simon Devane, CEO of sports injury clinic Pure Sports Medicine, has revealed plans to take
Developer Moda has signed a pioneering partnership with wellness company Hero, which will look to
A new report has called for a "major culture shift" in order to get older
Ukactive chair Tanni Grey-Thompson has made a passionate call for the government to finally recognise
Global Wellness Summit
Global Wellness Summit
Mark Verstegen, founder and CEO of human performance specialist EXOS, has said that health clubs
A boutique indoor rowing and personal training studio – described as the first of its
Jetts Fitness has opened a club in Skipton, Yorkshire, making it the fifth location the
Work could soon begin on what has been described as one of the first developments
Dyaco International
Dyaco International
1 - 15 of 10,462
Features
feature
Simon Sinek cites ‘15-18 per cent market penetration’ as the tipping point that must be reached to achieve mass market success and acceptance of an idea
Features
feature
Calisthenics: is it just for hardmen, or is it an alternative activity that could appeal to your crossfitters or those in your free weights area? Kath Hudson reports
Features
feature
The IHRSA European Congress, which takes place next month in Lisbon, Portugal, is a must-attend, must-experience event for industry leaders doing business in Europe says IHRSA’s Kristen Walsh
Features
Supplier showcase
GoCardless & Speedflex
Features
People
people
We need to create intelligent fitness centres, with structured offerings across mindset, nutrition, movement and recovery
People
people
The ultimate goal of WHO’s Global Action Plan on Physical Activity is a 15 per cent reduction in the global prevalence of inactivity by 2030
People
people
We’re offering members the convenience of having a workout and a chance to shop in a lively, welcoming environment
People
people
The drive behind everything we do is to help our patients get better. Whether that means climbing Everest, or climbing the stairs
People
Interview
Our large-format clubs require a high population density, so we created a small box model at 5,000 - 8,000sq ft to create a vibrant, friendly, local gym concept - Francine Davis
People
People profile
There’s no doubt in my mind that training outdoors is a huge mood booster, and a better mood will always result in a better workout
People
People profile
Aerial is tough initially, but people get addicted because of the results they see and because it makes you completely switch off
People
Interview
Having a service proposition that stands clearly above the benchmark against which the market is judged motivates us much more than just growing our estate and building more clubs
People
Interview
I want to build a social lifestyle brand that combines music and wellness to create something that inspires people. I want to change the way people think of working out, so it’s like going to a club or a concert
People
Catalogue Gallery
Click on a catalogue to view it online
Featured suppliers
Featured supplier: Escape launches Master Trainer programme
In a first of its kind event, Escape Fitness has launched its worldwide Master Trainer programme.
Featured suppliers
Featured supplier: Alliance Leisure launches new training and marketing brand
In response to the continued success of Alliance Leisure’s client support services, the organisation has relaunched this part of the business under a new brand.
Company profiles
Company profile: Netpulse
Founded in 2001, Netpulse is the world’s number one provider of branded mobile apps for ...
Company profiles
Company profile: MiE FitQuest
FitQuest (MiE Medical Research) are specialists in the field of human performance measurement. We have ...
Directory
Direct debit solutions
Debit Finance Collections: Direct debit solutions
Clothing/promotional merchandise
Taylor Made Designs: Clothing/promotional merchandise
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Exercise equipment
Origin Fitness: Exercise equipment
Member access schemes
Move GB: Member access schemes
Lockers
Fitlockers: Lockers
Fitness equipment
Dyaco International: Fitness equipment
Flooring
Gerflor Ltd: Flooring
Computer solutions
Gantner Electronics Ltd: Computer solutions
Property & Tenders
White Rocks, Hastings
GVA
Property & Tenders
Diary dates
22-23 Sep 2018
Worldwide,
Diary dates
24-27 Sep 2018
Omni La Costa Resort & Spa, Carlsbad, United States
Diary dates
Job search
Active IQ
Active IQ