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44-strong Paris/Swiss gym estate up for sale
By Kate Cracknell
President Franck Gueguen has led the company through a period of strong growth
Core Motion Group is up for sale, according to sources close to Health Club Management.
The health club group – which owns and operates 44 clubs in Paris and Switzerland – is currently owned by private equity fund 21 Centrale Partners, which has been instrumental in its expansion over recent years. This has included the acquisition of the Swiss clubs and the growth of the Paris chain, including the launch of a new premium club in the Opéra Bastille area of the city.
However, the investment is coming towards the end of its expected seven-year term, and Health Club Management understands that Core Motion Group is now in negotiations with a number of US, French and other European funds. It’s understood that UK health club groups – backed by investment funds – are among the interested parties.
Core Motion Group – which is led by president Franck Gueguen – encompasses 22 clubs in Paris under the CMG Sports Club brand (formerly Club Med Gym), and 22 clubs in Switzerland under the Silhouette brand. All 44 clubs are up for sale; Gueguen has yet to confirm if he will remain at the company after the sale or pursue other opportunities.
Core Motion Group is up for sale, according to sources close to Health Club
Management.
HAF
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