LifeFit Group on track for growth with new investor Waterland

Frankfurt / Munich, 6 June 2024 – Blitz 24-73 GmbH (under change of name to Light AcquiCo GmbH), („AcquiCo“), an entity indirectly held by investment funds advised by Waterland Private Equity Investments („Waterland“) has signed an agreement to acquire Frankfurt-based LifeFit Group TopCo GmbH („LifeFit Group“) in a transaction that is expected to be completed during the second half of 2024 (the “Acquisition”). LifeFit Group thus continues the growth strategy it has pursued since its foundation in 2019 and strives to accelerate it with the support of the new investor Waterland. Since 2019 LifeFit Group‘s club portfolio has grown from approximately 50 clubs to more than 140 clubs in 2024, in which more than 400,000 people are training, making it one of the leading health and fitness platforms in Germany.

The European investment company Waterland was founded in 1999, operates 13 offices in eleven countries and possesses extensive experience in the fitness and health industry. From 2005 to 2013, Waterland invested in the Dutch Health City/Basic-Fit Group and developed it into the second largest fitness center operator in Europe. In addition, Waterland had a major stake in the Exercite Group (Hansefit) which developed into one of the largest corporate health and wellness benefit solutions providers in Germany and the Netherlands prior to its sale to the Epassi Group in February 2024. Waterland is still invested in the German gym chain FIT/One.

Waterland believes there is significant potential for growth in the fragmented European fitness market. The acquisition of LifeFit Group and subsequent expansion through targeted acquisitions aims at enabling the LifeFit Group to become one of the leading fitness and health platforms in the region. Thanks to Waterland’s extensive expertise and financial resources, LifeFit Group believes it is well-positioned to accelerate its positive development and further strengthen its brands.

The existing management team around CEO Martin Seibold will continue to lead the business of LifeFit Group and operate independently. Waterland sees itself as a partner advising the management on the strategic set up. Martin Seibold, CEO of LifeFit Group, is enthusiastic about the acquisition: “We are delighted to have such a competent and experienced investor as Waterland on board. With their expertise and financial support, we are absolutely certain that we will be able to continue along our chosen path. We will further strengthen our position in the market and expand our business”.

Jörg Dreisow, supervisory board member at Waterland, on the acquisition: “We are convinced of the quality and potential of LifeFit Group and look forward to working with the management team on the future of the business. We are confident that our resources and commitment will further accelerate the growth of LifeFit Group”.

Waterland is acquiring LifeFit Group from its previous majority owner, funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and certain minority shareholders. The Acquisition is subject to customary closing conditions as well as a successful issuing of senior secured bonds in private placements with institutional investors through which AcquiCo is planning to partly finance the acquisition.

About LifeFit Group
LifeFit Group is a leading fitness and health platform in Germany, uniting several fitness brands under one roof. The Group is committed to inspiring and supporting its customers to improve their lives through personalized, varied and purposeful health and fitness experiences. Fitness First is LifeFit Group’s best -known and largest brand. With Fitness First BLACK, the gym chain offers upscale benefits and services, while Fitness First RED offers a special workout space concept for a wide range of customers with an appealing modular pricing. Elbgym complements the multi-brand offering as an exclusive performance fitness provider with its unique and strong community. The fitness concepts of Barry’s, the pioneer of indoor high-intensity interval training, The Gym Society, the innovative compact studio concept from the Netherlands, as well as the Club Pilates brand and YogaSix from Xponential Fitness complete the LifeFit Group portfolio.

Waterland press contact:
IWK Communication Partner
Florian Bergmann
T +49 89 2000 30 30