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Life Fitness (UK) Ltd
Life Fitness (UK) Ltd
Life Fitness (UK) Ltd
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UNITING THE WORLD OF FITNESS
Health Club Management

Health Club Management

News

Basic-Fit raises €150m additional financing to weather COVID and drive expansion

Europe’s largest fitness chain, Basic-Fit, has secured a €150m bridge facility, which it says will provide it with the financial flexibility to weather the impact of the pandemic and to "recommence its growth strategy".

The group, which currently operates 905 clubs across the continent, revealed in October 2020 that it plans to open a further 337 clubs by the end of 2022.

In a statement, Basic-Fit said that the pandemic had resulted in widespread closures across its European estate, but that it expects to resume its expansion programme once lockdown restrictions are lifted.

"As a result of the government measures, following the second COVID-19 wave, we had to start closing clubs again at the end of September,"

"By mid-December, all our clubs in the Netherlands, Belgium and France were closed.

"We ended 2020 with a total network of 905 clubs (up 121 clubs year on year) of which 851 clubs are still closed, and 54 clubs (Spain and Luxembourg) remain open.

"We ended 2020 with 2.0 million members (2.2 million year-end 2019).

"With the continued uncertainty regarding the timing of reopening of our clubs in the countries where these are currently closed, the additional facility is expected to ensure ample liquidity for Basic-Fit during this pandemic and to keep us well positioned post-COVID-19 to resume our growth path.

"With our clubs being closed in our largest countries, we continue to manage our cash outflow by keeping capital expenditure at a minimum and operating with a reduced cost base."

ABN AMRO and Rabobank acted as Bookrunning Mandate Lead Arrangers on the bridge facility. Basic-Fit anticipates to refinance the committed bridge facility "with debt, equity or equity-linked instruments or a combination thereof".

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Europe’s largest fitness chain, Basic-Fit, has secured a €150m bridge facility, which it says will provide it with the financial flexibility to weather the impact of the pandemic and to 'recommence its growth strategy'.
HAF,FIT,IND,PTS
2021/THUMB347145_290429_747819.jpg
Latest News
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Catalogue Gallery
Click on a catalogue to view it online
Directory
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Crown Sports Lockers: Lockers/interior design
Spa software
SpaBooker: Spa software
Management software
Premier Software Solutions: Management software
Skincare
Comfort Zone - Davines S.p.A: Skincare
Architects/designers
Zynk Design Consultants: Architects/designers
Red Light Therapy
 Red Light Rising: Red Light Therapy
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Uniforms
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Hydrotherapy / spa fragrances
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Whole body cryotherapy
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Property & Tenders
Newport, Shropshire
Lilleshall Sports Academy
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Pendine Sands, Carmarthenshire
Carmarthenshire County Council
Property & Tenders
Diary dates
18-19 Sep 2021
Locations worldwide,
Diary dates
21-24 Sep 2021
Messe Stuttgart, Germany
Diary dates
13-14 Oct 2021
Online,
Diary dates
01-03 Feb 2022
Coventry Building Society Arena, Coventry, United Kingdom
Diary dates
07-10 Apr 2022
Exhibition Centre , Cologne, Germany
Diary dates
15-16 Jun 2022
ExCeL London, London, United Kingdom
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates

News

Basic-Fit raises €150m additional financing to weather COVID and drive expansion

Europe’s largest fitness chain, Basic-Fit, has secured a €150m bridge facility, which it says will provide it with the financial flexibility to weather the impact of the pandemic and to "recommence its growth strategy".

The group, which currently operates 905 clubs across the continent, revealed in October 2020 that it plans to open a further 337 clubs by the end of 2022.

In a statement, Basic-Fit said that the pandemic had resulted in widespread closures across its European estate, but that it expects to resume its expansion programme once lockdown restrictions are lifted.

"As a result of the government measures, following the second COVID-19 wave, we had to start closing clubs again at the end of September,"

"By mid-December, all our clubs in the Netherlands, Belgium and France were closed.

"We ended 2020 with a total network of 905 clubs (up 121 clubs year on year) of which 851 clubs are still closed, and 54 clubs (Spain and Luxembourg) remain open.

"We ended 2020 with 2.0 million members (2.2 million year-end 2019).

"With the continued uncertainty regarding the timing of reopening of our clubs in the countries where these are currently closed, the additional facility is expected to ensure ample liquidity for Basic-Fit during this pandemic and to keep us well positioned post-COVID-19 to resume our growth path.

"With our clubs being closed in our largest countries, we continue to manage our cash outflow by keeping capital expenditure at a minimum and operating with a reduced cost base."

ABN AMRO and Rabobank acted as Bookrunning Mandate Lead Arrangers on the bridge facility. Basic-Fit anticipates to refinance the committed bridge facility "with debt, equity or equity-linked instruments or a combination thereof".

Sign up here to get HCM's weekly ezine and every issue of HCM magazine free on digital.
Europe’s largest fitness chain, Basic-Fit, has secured a €150m bridge facility, which it says will provide it with the financial flexibility to weather the impact of the pandemic and to 'recommence its growth strategy'.
HAF,FIT,IND,PTS
2021/THUMB347145_290429_747819.jpg

News

Industry body ukactive has joined the chorus of organisations across a number of sectors calling
German fitness operator BestFit Group has acquired regional gym chain EuroFit for an undisclosed sum.
The US fitness industry lost around 58 per cent of its revenues during 2020, due
Speaking exclusive to HCM, Ralph Scholz and Nathalie Smeeman have confirmed that B2B trade show
The Pingdemic of people receiving notifications on their phones, telling them to self-isolate because of
Xponential Fitness has completed its initial public offering (IPO), becoming the second major franchised operator
Life Fitness (UK) Ltd
Life Fitness (UK) Ltd
Post pandemic, technology continues to shape the way consumers access fitness. Apps and wearables are
The Gym Group has extended its partnership with digital fitness platform Fiit, becoming the first
The world's largest fitness trade fair, FIBO, has been rescheduled again and will now take
Rainer Schaller, founder of budget gym megabrand McFIT, says that the global fitness industry will
The most high-risk and controversial Olympics of modern times begin today (23 July) in Tokyo,
Further research into the levels of positive COVID-19 cases among those to have visited fitness
Planning approval has been granted to what is set to become one of the first
Innovatise UK Ltd
Innovatise UK Ltd
During lockdown clients have had more time to self-reflect than ever before. As a result,
Digital fitness content provider, Wexer, is launching a new wellness resource on its connected Web
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KA Leisure has appointed industry veteran Malcolm McPhail as its interim chief executive. McPhail, who
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Crown Sport Lockers (UK) Ltd
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HCM Magazine
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Every gym design project should be designed from the floor up, says Physical Company’s James Anderson. He tells HCM why
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HCM Magazine
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Game designers have figured out how to keep people unhealthily addicted to games. If only you could be the hero in a game that levelled up your life
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‘After the rain comes the sunshine,’ says the founder and CEO of the RSG Group. He talks to Kate Cracknell about acquiring Gold’s Gym, continuing the global expansion of John Reed, and learning to live with COVID-19
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Training
Six months on from the launch of its Kickstart programme, The Gym Group is hiring the majority of trainees, as Liz Terry reports
HCM Magazine
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The results from the first Moving Communities Customer Experience survey present a positive picture of overall satisfaction with local authority facilities, explains Mike Hill
HCM magazine
Premier Global NASM is setting personal trainers up for sustainable success with the launch of its online training bundle and app
HCM magazine
With local authority facility management companies and councils under financial pressure due to the pandemic and issues emerging around health inequalities, will we see a trend towards councils insourcing the management of facilities? Kath Hudson rounds up views
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“A great atmosphere is just as important to the fitness journey as the right workout routine, says LEDSnaps’ CEO, Ian Kirby
HCM magazine
HCM People

Stelian Iacob

Stelian Iacob, CEO and senior VP, Therme Group
We’re seeing a much greater focus on the need to integrate healthy living into daily life and reconnect with nature and each other
HCM magazine
The pandemic has disrupted everything and as businesses across the leisure industry reshape themselves to survive and thrive, new competition is emerging that will change the sector
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GM Active has launched a training programme to create a new generation of transformational leaders, as Liz Terry reports
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Rigs have been central to gyms for years. Now suppliers tell us how they’re evolving to meet the changing needs of clubs and clients
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A new study claims being physically active for 30 minutes a day, five days a week, is not enough for those who spend the rest of their time being sedentary
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Featured supplier news
Featured supplier news: Cryotherapy specialists, L&R Kältetechnik, launch new artofcryo.com division
L&R Kältetechnik has launched a new division, named artofcryo.com, after 30 years’ experience with -110 °C electrical solutions.
Featured supplier news
Featured supplier news: A new world for memberships
During lockdown clients have had more time to self-reflect than ever before. As a result, many are prioritising mental health and incorporating activity into their day to improve overall wellbeing.
Featured operator news
Featured operator news: Being active helps Parkwood Leisure customers save the NHS £16m
Parkwood Leisure, one of the UK’s leading public leisure facilities operators, helped prevent more than 7,000 cases of stroke, dementia, depression and type 2 diabetes in 2019, saving the NHS £16 million, a new social value report has shown.
Featured operator news
Featured operator news: Everyone Active bolsters Everyone on Demand and enters second year with five new partnerships
Everyone Active has signed a number of new deals which will see the operator strengthen its digital product offering, Everyone on Demand.
Company profiles
Company profile: RISE Fitness Franchise
RISE is a brand-new franchise created to fill an emerging gap. Outdoor workouts have become ...
Company profiles
Company profile: Les Mills UK
For over 50 years Les Mills has been leading the way in fitness to inspire ...
Catalogue Gallery
Click on a catalogue to view it online
Directory
Lockers/interior design
Crown Sports Lockers: Lockers/interior design
Spa software
SpaBooker: Spa software
Management software
Premier Software Solutions: Management software
Skincare
Comfort Zone - Davines S.p.A: Skincare
Architects/designers
Zynk Design Consultants: Architects/designers
Red Light Therapy
 Red Light Rising: Red Light Therapy
Independent service & maintenance
Servicesport UK Limited: Independent service & maintenance
Uniforms
Service Sport: Uniforms
Hydrotherapy / spa fragrances
Kemitron GmbH: Hydrotherapy / spa fragrances
Whole body cryotherapy
Art of Cryo: Whole body cryotherapy
Property & Tenders
Newport, Shropshire
Lilleshall Sports Academy
Property & Tenders
Pendine Sands, Carmarthenshire
Carmarthenshire County Council
Property & Tenders
Diary dates
18-19 Sep 2021
Locations worldwide,
Diary dates
21-24 Sep 2021
Messe Stuttgart, Germany
Diary dates
13-14 Oct 2021
Online,
Diary dates
01-03 Feb 2022
Coventry Building Society Arena, Coventry, United Kingdom
Diary dates
07-10 Apr 2022
Exhibition Centre , Cologne, Germany
Diary dates
15-16 Jun 2022
ExCeL London, London, United Kingdom
Diary dates
01-07 Dec 2022
tbc, Dunedin, New Zealand
Diary dates
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Life Fitness (UK) Ltd
Life Fitness (UK) Ltd