Year of investment: 2009 Seller: Founders/management Exit year: 2018 Buyer: Bencis Capital Partners (PE)
Fit for Free / Sportcity is the second largest fitness chain in the Netherlands with around 400.000 members and 100 locations. Sportcity (#18 locations) focuses on the medium price segment, whereas Fit for Free (#82 locations) is a market leader in the budget segment.
Acquiring Fit-for-Free (# 21 locations) together with the management of Sportcity (#18 locations) with the strategy to aggressively roll out the budget concept in the Netherlands and abroad. The number of Fit-for-free locations has increased from 21 to around 82 while becoming active in 5 countries. Next to opening new clubs, substantial investments have been made in refurbishing existing clubs with innovative formats, highest quality equipment and digitalization of the company’s membership and IT infrastructure. The organisation has been strengthened and professionalized through development of marketing, human capital, site selection and management, and strong day-to-day operational management. The company was successfully sold to Bencis who will continue the growth strategy.