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Alter Capital takes majority stake in Wifit Gyms to drive growth
By Kath Hudson
The founders of IFitness are now building another brand – WiFit Credit: Shutterstock AI
Wifit Gyms gets further investment from Alter Capital Desarrollo
The private equity firm is now the majority shareholder
After a year of operation the company has five sites in Spain and 9,000 members
The investment will be used to roll out more clubs
Spanish private equity firm, Alter Capital Desarrollo, has increased its investment in Spanish operator, Wifit Gyms, becoming the majority shareholder, with a 55 per cent stake, having made a minority investment last year.
Founders, José Luis Torrecilla and Íñigo Moreno-Luque both retain minority stakes.
They previously founded IFitness, which they sold to the Altafit group – now part of US megafund, Providence Equity Partners.
Wifit Gyms offers gyms and studio classes and currently operates five Spanish clubs, mostly in Madrid. The investment will accelerate expansion across the Iberian Peninsula. There are plans for five more locations this year.
Footnote
The Spanish market is currently one of the most hotly contested in Europe, with a battle for market leadership and market share between major operators such as Basic-Fit and VivaGym.
See Juan del Rio, CEO of VivaGym, keynote at the HCM Summit 2025 on 23 October in London. Click hereto secure your place.
HCM Summit 2025 speaker lineup
Humphrey Cobbold, chair, PureGym (HCM Summit chair)Russell Barnes, CEO, David Lloyd
Greg Oliver, CEO, Fitness and Lifestyle Group, AsiaNeil Randall, CEO, Urban Gym Group
Martin Seibold, CEO, LifeFit GroupRebecca Passmore, COO, PureGym
Juan del Rio, CEO, VivaGymAnna Bjurstam, senior strategic adviser, Six Senses
Oliver Patrick, co-founder, Future Practice Marc Magliacano, managing partner, L.Catterton
Sophie Lawler, CEO, Total FitnessPeter Bunday, CEO, GLL
Spanish private equity firm, Alter Capital Desarrollo, has increased its stake in Spanish
operator,
Wifit Gyms, and become the majority shareholder with a 55 per cent stake.
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