Harris Williams, a global investment bank specializing in M&A advisory services, announces that it is advising Fitness World, a portfolio company of FSN Capital, on its pending sale to PureGym, a portfolio company of Leonard Green & Partners (LGP) and the UK’s largest gym operator. Fitness World is a leading fitness operator in Europe. The transaction, being led by Ed Arkus, Danielius Uznys and Krishna Patel of the Harris Williams Consumer Group, extends the firm’s experience in the fitness space. Recent Harris Williams fitness transactions include advising PureGym on its sale to LGP, Taymax on its sale to Trilantic North America and Impact Fitness on an investment by Morgan Stanley Capital Partners, among other transactions.
“We are delighted to have worked alongside Fitness World’s shareholders and management team on this transaction. CEO Steen Albrechtslund and his team have firmly established Fitness World as the largest operator in Denmark, while building a pan-European presence through expansion in Poland and Switzerland,” said Ed Arkus, a managing director at Harris Williams. “Fitness World’s partnership with PureGym represents a hugely exciting phase for both businesses and we look forward to following their next chapter together.”
Fitness World is the largest fitness provider in Denmark, with operations in both Switzerland and Poland. Founded in 2005, it has grown to become one of Europe’s leading value fitness providers, with over 230 gyms and more than 600,000 members. Fitness World sites offer members affordable, flexible and high-quality fitness facilities, most of which are available 24/7. Opening its first site in Copenhagen, Fitness World has increased its market share of the European value market both organically and through the acquisition of Condizione in Poland in 2015 and then Basefit in Switzerland in 2018. In addition to its international estate of gyms, Fitness World also has its own sports nutrition brand, Functional Nutrition, and bespoke member fitness app.
Established in 1999, FSN Capital is a leading private equity advisor in the Northern European region with more than €2 billion under management. FSN Capital focuses on making control investments in companies operating in the Northern European region with enterprise values between €50 million and €300 million.
