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Circle Opportunities acquires True Vibrations
Investment company Circle Opportunities has announced that it has completed the purchase of the company behind the TrueVibe fitness training platform, True Vibrations.
Circle Opportunities has acquired the remaining shares in True Vibrations from the majority shareholder and founder, Kevin Barclay-Webb, for a consideration of £450,000. Barclay-Webb, the personal trainer and fitness consultant, is thought to be among the first to introduce vibration training to the UK market more than a decade ago.
Under the terms of the acquisition, Barclay-Webb will now not be allowed to own more than 24.9 per cent of the issued share capital in True Vibrations but will remain with the business. During the past 10 months, the company launched its TrueVibe platform and has sold 30 of the machines, with a further 90 currently in production.
Circle Opportunities chair David Lloyd said: "We decided to invest and subsequently acquire True Vibrations as we see both value in the technology and an extensive market for it. "Kevin has been the leader in this type of training for over a decade now and his knowledge and experience will be invaluable to Circle, and we very much look forward to working closely with him to market the TrueVibe."