Fitness World sold to FSN Capital

Denmark's largest fitness chain Fitness World is taken over by Norwegian private equity fund FSN Capital. Founder Henrik Rossing, who had owned about three quarters of the shares before the transaction, will retain a minority stake in the company and will continue the strong growth of recent years together with the new partner.

"The first time we had looked for a new partner a few years ago. We had determined that we could not realize the desired growth on a stand-alone basis. In November last year we have started the sales process again. Now, we are excited by this new phase for Fitness World and we believe that in FSN Capital, we have found the right partner to internationalize and further professionalize Fitness World", said Henrik Rossing.

Currently, 450,000 Danes or almost ten percent of the population exercise in the 152 facilities of Fitness World. The company which also operates five clubs in Poland employs 3,300 people and has nearly doubled its revenue since 2010 reaching EUR 230 million in 2014.

FSN Capital acquires a majority stake in the company. "Fitness World is not just another fitness operator, it has an unrivalled market positions in one of the world's most developed fitness markets, with clear cost leadership, a strong brand and continued tangible growth prospects in Denmark, coupled with an exciting potential roll-out of the concept in Poland" comments Thomas Broe-Andersen, partner at FSN Capital the acquisition. For the fund, it is not the first engagement in the fitness industry. Until 2012, it was already invested in Actic, another leading health and fitness provider in the Scandinavian market.

Both parties agreed to not disclose any information on the realized purchase price. However, with an operating result of EURm 34 and a multiplier of 8-10x, the enterprise value could be expected to be around EURm 300.

Source: Fitness World, FSN Capital, business.dk
Picture: Fitness World

Subscribe to our newsletter now

... and stay up to date





  I agree that the operator and publisher may inform me about selected topics. My data is used exclusively for this purpose. In particular, no disclosure to unauthorized third parties. I am aware that I can revoke my consent at any time with effect for the future. The Privacy Policy applies, which also includes other information about how to correct, delete and block my data.


*) required.