Afinum Siebte Beteiligungsgesellschaft mbH & Co. KG, advised by Afinum Management GmbH, has successfully exited its investment in Let’s Go Fitness Group („Let’s Go Fitness“ or the “Company”) to Naxicap Partners, an affiliate of Natixis Investment Managers, and the management team.
Let’s Go Fitness, based in Lausanne, is the largest operator of fitness centres in Frenchspeaking Switzerland. With its positioning in the upper mid-range segment, Let’s Go
Fitness serves the growing number of demanding and health-oriented customers by offering modern facilities, professional training support and extensive course programs as well as various spa treatments.
Together with Afinum Let’s Go Fitness was able to increase the number of centres from 28 to 52 and the number of members from c. 30,000 to more than 50,000 since September 2014. The expansion strategy was realized through organic but also inorganic growth initiatives. Since the Let’s Go Fitness acquisition 7 add-on transactions (Fit Plus, Physic Club, Physic 2000, Fit Heaven, Fitbudget, California Fitness and Atlantide) were completed adding a total of 14 centres to the Group. As a result, net sales could nearly be doubled at constantly high margins.
During the Afinum investment period the internal succession could successfully be resolved by broadening and strengthening the management structures. Also the financial
reporting and further systems (e.g. CRM) have been expanded and professionalized. Moreover, Afinum has successfully supported the Group in becoming the frontrunner in
new trends & digitalization in the Swiss fitness industry.
For the future, the management team has an ambitious agenda and it also participates again in the transaction. We are convinced that Let’s Go Fitness will be able to continue its successful growth strategy under new ownership with Naxicap Partners.
Please find further information under: www.letsgofitness.ch